Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents, at cost, which approximates fair value $ 657.3 $ 552.7
Short-term investments in marketable securities 11.5 83.2
Total cash, cash equivalents and short-term investments in marketable securities 668.8 635.9
Restricted cash 12.7 15.6
Accounts and notes receivable, less allowances of $13.8 and $16.3 398.1 386.5
Inventories    
Finished goods 444.4 434.9
Work-in-process 88.4 82.1
Raw materials 152.2 135.3
Net inventories 685.0 652.3
Deferred income taxes 180.5 208.0
Prepaid expenses and other 39.8 39.5
Current assets held for sale 0.0 30.0
Current assets 1,984.9 1,967.8
Property    
Land 24.2 23.6
Buildings and improvements 351.8 335.6
Equipment 886.8 847.2
Total land, buildings and improvements and equipment 1,262.8 1,206.4
Accumulated depreciation (861.4) (844.1)
Net land, buildings and improvements and equipment 401.4 362.3
Unamortized product tooling costs 103.8 98.0
Net property 505.2 460.3
Other assets    
Goodwill 298.7 296.9
Other intangibles, net 55.1 45.5
Equity investments 21.5 19.0
Non-current deferred tax asset 239.7 290.9
Other long-term assets 47.4 37.5
Long-term assets held for sale 0.0 12.6
Other assets 662.4 702.4
Total assets 3,152.5 3,130.5
Current liabilities    
Current maturities of long-term debt 6.0 5.5
Accounts payable 339.1 317.4
Accrued expenses 563.0 561.5
Current liabilities held for sale 0.0 15.7
Current liabilities 908.1 900.1
Long-term liabilities    
Debt 442.5 446.3
Deferred income taxes 12.3 3.2
Postretirement benefits 347.5 398.2
Other 160.8 203.0
Long-term liabilities held for sale 0.0 8.2
Long-term liabilities 963.1 1,058.9
Shareholders' equity    
Common stock; authorized: 200,000,000 shares, $0.75 par value; issued: 102,538,000 shares; outstanding: 90,813,000 and 92,694,000 shares 76.9 76.9
Additional paid-in capital 408.0 395.0
Retained earnings 1,660.4 1,467.3
Treasury stock, at cost: 11,725,000 and 9,844,000 shares (389.9) (287.2)
Accumulated other comprehensive income (loss), net of tax:    
Foreign currency translation (56.4) (14.5)
Prior service costs (4.7) (3.9)
Net actuarial losses (407.1) (456.6)
Unrealized losses on derivatives (5.9) (5.5)
Total accumulated other comprehensive loss (474.1) (480.5)
Shareholders' equity 1,281.3 1,171.5
Total liabilities and shareholders' equity $ 3,152.5 $ 3,130.5