CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Current Assets
Cash and equivalents	$ 275,395	$ 869,531	$ 317,803
Accounts receivable, net	917,652	1,115,217	794,600
Inventories	935,933	613,798	891,816
Prepaid expenses and other current assets	373,648	341,518	361,673
Total current assets	2,502,628	2,940,064	2,365,892
Noncurrent Assets
Property, plant, and equipment, net	807,796	773,965	736,476
Goodwill	1,394,464	1,387,628	1,394,101
Other noncurrent assets	1,462,994	1,392,137	1,435,098
Total Assets	6,167,882	6,493,794	5,931,567
Current Liabilities
Short-term borrowings	506,769	192,168	67,000
Current portion of long-term debt	250,000	0	300,000
Accounts payable	549,319	664,857	565,930
Accrued liabilities	452,032	628,826	431,622
Income taxes payable	4,380	19,722	8,680
Total current liabilities	1,762,500	1,505,573	1,373,232
Noncurrent Liabilities
Long-term debt	1,885,693	2,134,271	1,786,133
Other noncurrent liabilities	452,284	446,168	461,915
Total noncurrent liabilities	2,337,977	2,580,439	2,248,048
Stockholders’ Equity
Common stock $1.00 par value, 1.0 billion shares authorized; 441.4 million shares issued	441,369	441,369	441,369
Additional paid-in capital	1,809,843	1,790,832	1,804,356
Treasury stock at cost: 98.7 million shares, 100.8 million shares, and 99.0 million shares, respectively	(2,416,804)	(2,426,749)	(2,470,107)
Retained earnings	3,114,931	3,545,359	3,396,027
Accumulated other comprehensive loss	(881,934)	(943,029)	(861,358)
Total stockholders’ equity	2,067,405	2,407,782	2,310,287
Total Liabilities and Stockholders’ Equity	$ 6,167,882	$ 6,493,794	$ 5,931,567

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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- 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.