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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 594.0 $ 333.7
Trade receivables, net of allowance for doubtful accounts of $6.5 in 2017 and $8.4 in 2016 552.4 460.5
Income tax receivables 85.1 11.5
Other receivables 90.2 72.7
Inventories, net of inventory reserves of $15.5 in 2017 and $13.4 in 2016 506.8 456.7
Assets held for sale 4.0 825.7
Prepaid expenses and other current assets 33.9 54.5
Total current assets 1,866.4 2,215.3
Property and equipment, net 998.4 889.6
Goodwill 1,939.8 1,882.9
Identifiable intangible assets, net 83.6 40.1
Deferred taxes [1] 176.2 197.1
Non-current assets held for sale [1] 0.0 2,015.1
Other non-current assets 215.9 175.4
Total assets 5,280.3 7,415.5
Current liabilities:    
Short-term borrowings 25.3 83.0
Current portion of long-term debt 2.2 297.0
Accounts payable 723.8 539.2
Current liabilities held for sale 2.2 683.3
Accrued restructuring costs 15.4 44.8
Income tax payable 47.3 48.3
Other current liabilities 562.0 423.4
Total current liabilities 1,378.2 2,119.0
Long-term debt, less current portion 3,230.5 3,762.6
Deferred taxes 28.5 4.9
Non-current liabilities held for sale [1] 0.0 517.2
Other non-current liabilities 490.8 402.1
Total liabilities 5,128.0 6,805.8
Commitments and Contingencies - Note 17
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2017 and 2016 0.0 0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 230,080,944 in 2017 and 227,638,738 in 2016; shares outstanding: 168,595,521 in 2017 and 193,482,383 in 2016 23.0 22.8
Additional paid-in capital 1,939.6 1,974.1
Retained earnings 1,735.2 1,040.0
Common stock in treasury, 61,485,423 shares in 2017 and 34,156,355 shares in 2016 (2,700.6) (1,478.1)
Accumulated other comprehensive loss, net of taxes:    
Unrecognized pension items (103.4) (276.7)
Cumulative translation adjustment (694.4) (701.9)
Unrealized net (loss) gain on derivative instruments for net investment hedge (46.8) 21.0
Unrealized net (loss) gain on derivative instruments for cash flow hedge (0.3) 8.5
Total accumulated other comprehensive loss, net of taxes (844.9) (949.1)
Total stockholders’ equity 152.3 609.7
Total liabilities and stockholders’ equity $ 5,280.3 $ 7,415.5
[1] As of December 31, 2016, $27.2 million of amounts which were previously classified as $10.9 million of non-current assets held for sale and $16.3 million of non-current liabilities held for sale were reclassified to deferred tax assets since the amounts were not transferred as part of the sale of Diversey.