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Condensed Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Sep. 30, 2019
Current assets:      
Cash and cash equivalents $ 282.7 $ 220.9 $ 177.4
Receivables, net 714.9 760.4 849.9
Income taxes receivable 22.0 13.9 17.5
Inventories, net 608.4 695.7 700.7
Other current assets 44.5 23.1 24.1
Total current assets 1,672.5 1,714.0 1,769.6
Property, plant and equipment (less accumulated depreciation of $3,602.4, $3,268.1 and $3,112.4) 3,179.8 3,323.8 3,367.0
Operating lease assets, net 376.0 377.8 314.6
Deferred income taxes 36.3 35.3 30.3
Other assets 1,177.0 1,169.1 1,170.1
Intangible assets, net 404.9 448.1 461.9
Goodwill 1,420.1 2,119.7 2,119.1
Total assets 8,266.6 9,187.8 9,232.6
Current liabilities:      
Current installments of long-term debt 1.2 2.1 1.1
Accounts payable 614.7 651.9 647.7
Income taxes payable 14.2 19.8 9.8
Current operating lease liabilities 76.2 79.3 71.2
Accrued liabilities 335.8 329.1 347.4
Total current liabilities 1,042.1 1,082.2 1,077.2
Long-term debt 3,959.5 3,338.7 3,339.0
Operating lease liabilities 305.0 303.4 248.2
Accrued pension liability 766.5 797.7 622.4
Deferred income taxes 410.9 454.5 515.5
Other liabilities 313.5 793.8 765.6
Total liabilities 6,797.5 6,770.3 6,567.9
Commitments and contingencies
Shareholders’ equity:      
Common stock, $1.00 par value per share: authorized, 240.0 shares; issued and outstanding, 157.9, 157.7 and 159.7 shares 157.9 157.7 159.7
Additional paid-in capital 2,129.9 2,122.1 2,128.6
Accumulated other comprehensive loss (728.2) (803.4) (672.7)
Retained earnings (accumulated deficit) (90.5) 941.1 1,049.1
Total shareholders’ equity 1,469.1 2,417.5 2,664.7
Total liabilities and shareholders’ equity $ 8,266.6 $ 9,187.8 $ 9,232.6