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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2014
Current assets:      
Cash and cash equivalents $ 75,068 $ 40,732 $ 267,198
Accounts receivable, less allowance 1,454,045 1,130,565 1,402,803
Inventories:      
Finished goods 945,918 841,784 892,488
Work in process and raw materials 186,058 191,743 198,694
Total net inventory 1,131,976 1,033,527 1,091,182
Deferred income taxes 107,902 109,087 102,733
Other current assets 236,137 252,869 244,202
Total current assets 3,005,128 2,566,780 3,108,118
Goodwill 1,151,720 1,158,346 1,174,654
Intangible assets 273,882 289,127 306,985
Deferred pension assets 251,684 250,144 304,582
Other assets 446,931 420,625 440,365
Property, plant and equipment:      
Land 122,503 125,691 131,234
Buildings 696,426 698,202 711,079
Machinery and equipment 1,980,796 1,952,037 1,916,103
Construction in progress 69,274 59,330 40,313
Total gross property, plant and equipment 2,868,999 2,835,260 2,798,729
Less allowances for depreciation 1,863,680 1,814,230 1,792,433
Total net property, plant and equipment 1,005,319 1,021,030 1,006,296
Total Assets 6,134,664 5,706,052 6,341,000
Current liabilities:      
Short-term borrowings 1,159,284 679,436 64,739
Accounts payable 1,253,894 1,042,182 1,244,574
Compensation and taxes withheld 267,352 360,458 264,652
Accrued taxes 193,834 86,744 190,368
Current portion of long-term debt 3,179 3,265 502,125
Other accruals 479,696 508,581 458,826
Total current liabilities 3,357,239 2,680,666 2,725,284
Long-term debt 1,122,756 1,122,715 1,122,420
Postretirement benefits other than pensions 279,650 277,892 272,095
Other long-term liabilities 617,677 628,309 696,242
Shareholders’ equity:      
Common stock - $1.00 par value 93,210,645, 94,704,173 and 97,787,954 shares outstanding at June 30, 2015, December 31, 2014 and June 30, 2014 respectively 115,394 114,525 114,001
Preferred stock - convertible, no par value: 5,722 shares outstanding at June 30, 2014 0 0 5,722
Unearned ESOP compensation 0 0 (5,722)
Other capital 2,241,197 2,079,639 1,980,760
Retained earnings 2,780,764 2,424,674 2,072,118
Treasury stock, at cost (3,863,351) (3,150,410) (2,326,404)
Cumulative other comprehensive loss (516,662) (471,958) (315,516)
Total shareholders' equity 757,342 996,470 1,524,959
Total Liabilities and Shareholders’ Equity $ 6,134,664 $ 5,706,052 $ 6,341,000