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Condensed Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Sep. 30, 2018
Current assets:      
Cash and cash equivalents $ 177.4 $ 178.8 $ 156.7
Receivables, net 849.9 776.3 1,009.2
Income taxes receivable 17.5 5.9 12.8
Inventories, net 700.7 711.4 724.4
Other current assets 24.1 35.0 35.2
Total current assets 1,769.6 1,707.4 1,938.3
Property, plant and equipment (less accumulated depreciation of $3,112.4, $2,781.0 and $2,651.2) 3,367.0 3,482.1 3,456.7
Operating lease assets, net 314.6 0.0 0.0
Deferred income taxes 30.3 26.3 24.8
Other assets 1,170.1 1,150.4 1,159.6
Intangible assets, net 461.9 511.6 528.3
Goodwill 2,119.1 2,119.6 2,119.6
Total assets 9,232.6 8,997.4 9,227.3
Current liabilities:      
Current installments of long-term debt 1.1 125.9 0.9
Accounts payable 647.7 636.5 709.4
Income taxes payable 9.8 22.6 22.1
Current operating lease liabilities 71.2 0.0 0.0
Accrued liabilities 347.4 333.3 341.3
Total current liabilities 1,077.2 1,118.3 1,073.7
Long-term debt 3,339.0 3,104.4 3,336.4
Operating lease liabilities 248.2 0.0 0.0
Accrued pension liability 622.4 674.3 589.6
Deferred income taxes 515.5 518.9 548.6
Other liabilities 765.6 749.3 756.1
Total liabilities 6,567.9 6,165.2 6,304.4
Commitments and contingencies
Shareholders’ equity:      
Common stock, $1.00 par value per share: authorized, 240.0 shares; issued and outstanding, 159.7, 165.3 and 166.8 shares 159.7 165.3 166.8
Additional paid-in capital 2,128.6 2,247.4 2,276.9
Accumulated other comprehensive loss (672.7) (651.0) (571.3)
Retained earnings 1,049.1 1,070.5 1,050.5
Total shareholders’ equity 2,664.7 2,832.2 2,922.9
Total liabilities and shareholders’ equity $ 9,232.6 $ 8,997.4 $ 9,227.3