CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current Assets
Cash and equivalents	$ 869,531	$ 892,814
Accounts receivable, net of allowances of $21.4 million and $24.4 million in 2016 and 2015, respectively	1,115,217	1,145,099
Inventories	613,798	587,521
Prepaid expenses and other current assets	341,518	375,625
Total current assets	2,940,064	3,001,059
Noncurrent Assets
Property, plant, and equipment, net	773,965	741,147
Goodwill	1,387,628	1,384,520
Other noncurrent assets	1,392,137	1,408,417
Total Assets	6,493,794	6,535,143
Current Liabilities
Short-term borrowings	192,168	16,914
Current portion of long-term debt	0	300,000
Accounts payable	664,857	651,681
Inventories	628,826	658,182
Income taxes payable	19,722	18,752
Total current liabilities	1,505,573	1,645,529
Noncurrent Liabilities
Long-term debt	2,134,271	1,784,721
Other noncurrent liabilities	446,168	471,639
Total noncurrent liabilities	2,580,439	2,256,360
Commitments and Contingencies
Stockholders' Equity
Common stock $1.00 par value, 1.0 billion shares authorized; 441.4 million shares issued	441,369	441,369
Additional paid-in capital	1,790,832	1,789,870
Treasury stock at cost: 99.0 million shares and 101.7 million shares in 2016 and 2015, respectively	(2,426,749)	(2,494,901)
Retained earnings	3,545,359	3,745,815
Accumulated other comprehensive loss	(943,029)	(848,899)
Total stockholders’ equity	2,407,782	2,633,254
Total Liabilities and Stockholders’ Equity	$ 6,493,794	$ 6,535,143

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.