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Condensed Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Current assets:      
Cash and cash equivalents $ 105.7 $ 178.8 $ 109.1
Receivables, net 808.3 776.3 835.6
Income taxes receivable 6.3 5.9 17.5
Inventories, net 717.5 711.4 675.6
Other current assets 46.7 35.0 61.2
Total current assets 1,684.5 1,707.4 1,699.0
Property, plant and equipment (less accumulated depreciation of $2,892.4, $2,781.0 and $2,444.2) 3,433.5 3,482.1 3,539.4
Operating lease assets, net 275.1 0.0 0.0
Deferred income taxes 31.7 26.3 39.4
Deferred income taxes 31.7 26.3 39.4
Other assets 1,131.4 1,150.4 1,197.0
Intangible assets, net 494.2 511.6 565.1
Goodwill 2,119.5 2,119.6 2,120.3
Total assets 9,169.9 8,997.4 9,160.2
Current liabilities:      
Current installments of long-term debt 126.1 125.9 0.7
Accounts payable 637.0 636.5 698.2
Income taxes payable 13.0 22.6 16.0
Current operating lease liabilities 69.4 0.0 0.0
Accrued liabilities 294.4 333.3 256.1
Total current liabilities 1,139.9 1,118.3 971.0
Long-term debt 3,067.2 3,104.4 3,534.7
Operating lease liabilities 206.0 0.0 0.0
Accrued pension liability 660.2 674.3 628.7
Deferred income taxes 525.9 518.9 498.4
Other liabilities 733.1 749.3 764.3
Total liabilities 6,332.3 6,165.2 6,397.1
Commitments and contingencies
Shareholders’ equity:      
Common stock, par value $1 per share: authorized, 240.0 shares; issued and outstanding, 164.9, 165.3 and 167.2 shares 164.9 165.3 167.2
Additional paid-in capital 2,239.2 2,247.4 2,285.0
Accumulated other comprehensive loss (656.9) (651.0) (552.8)
Retained earnings 1,090.4 1,070.5 863.7
Total shareholders’ equity 2,837.6 2,832.2 2,763.1
Total liabilities and shareholders’ equity $ 9,169.9 $ 8,997.4 $ 9,160.2