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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 297.5 $ 358.4 [1]
Trade receivables, net of allowance for doubtful accounts of $22.6 in 2016 and $24.9 in 2015 839.9 758.4 [1]
Income tax receivables 24.0 22.7 [1]
Other receivables 153.6 124.8 [1]
Inventories, net of inventory reserves of $27.4 in 2016 and $21.9 in 2015 748.0 660.8 [1]
Assets held for sale 3.4 10.3 [1]
Prepaid expenses and other current assets 293.6 280.2 [1]
Total current assets 2,360.0 2,215.6 [1]
Property and equipment, net 980.0 930.7 [1]
Goodwill 2,906.8 2,909.5 [1]
Intangible assets, net 764.4 784.3 [1]
Deferred taxes 170.3 204.7 [1]
Other non-current assets [1] 345.2 345.2
Total assets 7,526.7 7,390.0 [1]
Current liabilities:    
Short-term borrowings 281.0 241.9 [1]
Current portion of long-term debt 76.6 46.6 [1]
Accounts payable 777.6 675.3 [1]
Accrued restructuring costs 44.5 53.6 [1]
Other current liabilities 713.7 789.7 [1]
Total current liabilities 1,893.4 1,807.1 [1]
Long-term debt, less current portion [1] 4,259.1 4,266.8
Deferred taxes 61.4 75.0 [1]
Other non-current liabilities 725.8 714.0 [1]
Total liabilities 6,939.7 6,862.9 [1]
Commitments and contingencies - Note 15 [1]
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2016 and 2015 [1]
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 227,148,951 in 2016 and 225,625,636 in 2015; shares outstanding: 196,719,612 in 2016 and 196,013,299 in 2015 22.7 22.6 [1]
Additional paid-in capital 1,953.9 1,915.0 [1]
Retained earnings 758.6 675.2 [1]
Common stock in treasury, 30,429,339 shares in 2016 and 29,612,337 shares in 2015 (1,304.7) (1,265.7) [1]
Accumulated other comprehensive loss, net of taxes (843.5) [2] (820.0) [1]
Total stockholders’ equity 587.0 527.1 [1]
Total liabilities and stockholders’ equity $ 7,526.7 $ 7,390.0 [1]
[1] As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs. Refer to Note 2, “Recently Issued Accounting Standards” of the notes to the condensed consolidated financial statements for further details.
[2] The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(23.3) million as of June 30, 2016 and $36.6 million as of June 30, 2015.