Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and Cash Equivalents, at Cost, Which Approximates Fair Value $ 467.8 $ 595.6
Less: Restricted Cash 11.1 12.9
Short-Term Investments in Marketable Securities 0.8 4.5
Total Cash and Short-Term Investments in Marketable Securities 479.7 613.0
Accounts and Notes Receivable, Less Allowances of $11.3 and $9.2 493.2 543.0
Inventories    
Finished Goods 932.0 836.1
Work-In-Process 181.6 209.1
Raw Materials 363.2 426.2
Net Inventories 1,476.8 1,471.4
Prepaid Expenses and Other 60.0 67.8
Current Assets 2,509.7 2,695.2
Property    
Land 44.1 42.4
Buildings and Improvements 619.7 564.4
Equipment 1,551.5 1,488.1
Total Land, Buildings and Improvements and Equipment 2,215.3 2,094.9
Accumulated Depreciation (1,135.5) (1,051.4)
Net Land, Buildings and Improvements and Equipment 1,079.8 1,043.5
Unamortized Product Tooling Costs 236.0 227.3
Net Property 1,315.8 1,270.8
Other Assets    
Goodwill 1,030.7 967.6
Other Intangibles, Net 978.0 997.4
Equity Investments 38.7 54.0
Deferred Revenue 186.8 203.3
Operating lease assets 152.2 114.8
Other long-term assets 18.6 18.2
Other Assets 2,405.0 2,355.3
Total Assets 6,230.5 6,321.3
Current Liabilities    
Short-Term Debt and Current Maturities of Long-Term Debt 454.7 89.0
Accounts Payable 558.0 662.6
Accrued Expenses 739.4 738.3
Current Liabilities 1,752.1 1,489.9
Long-Term Liabilities    
Debt 1,975.7 2,420.0
Non-Current Operating Lease Liabilities 133.9 97.8
Deferred Income Taxes and Other Tax Liabilities, Noncurrent 12.4 60.7
Postretirement Benefits 52.5 49.5
Other 216.5 161.1
Long-Term Liabilities 2,391.0 2,789.1
Shareholders' Equity    
Common Stock; Authorized: 200,000,000 Shares, $0.75 Par Value; Issued: 102,538,000 Shares; Outstanding: 86,757,000 and 87,537,000 Shares 76.9 76.9
Additional Paid-In Capital 392.0 391.3
Retained Earnings 3,596.9 3,288.5
Treasury Stock, at Cost: 15,781,000 and 15,001,000 Shares (1,952.7) (1,684.9)
Accumulated Other Comprehensive Loss, Net of Tax:    
Foreign Currency Translation (49.5) (71.3)
Prior Service Credits (7.4) (4.1)
Net Actuarial Losses 7.9 9.7
Unrealized Gain (Loss) on Investments 0.2 0.2
Unrealized Losses on Derivatives 23.1 36.0
Total Accumulated Other Comprehensive Loss, Net of Tax (25.7) (29.5)
Shareholders' Equity 2,087.4 2,042.3
Total Liabilities and Shareholders' Equity $ 6,230.5 $ 6,321.3
Common Stock, Shares Authorized (in Shares) 200,000,000 200,000,000
Common Stock, Par Value (in Dollars per Share) $ 0.75 $ 0.75
Common Stock, Shares Outstanding 68,227,000 71,365,000
Common Stock, Shares Issued (in Shares) 102,538,000 102,538,000
Treasury Stock, Shares (in Shares) 34,311,000 31,173,000
Accounts and Notes Receivable, Allowances $ 10.8 $ 10.2