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New Accounting Standards (Tables)
9 Months Ended
Sep. 30, 2018
Accounting Changes And Error Corrections [Abstract]  
Summary of Impact of Adoption of New Accounting Standards

 

Balance Sheet

(Dollars in millions)

 

Balance at

December 31, 2017

 

 

Adjustments due

to ASC 606

 

 

Balance at

January 1, 2018

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Inventories, net1)

 

$

859.1

 

 

$

(17.3

)

 

$

841.8

 

Other current assets1)

 

 

228.9

 

 

 

22.0

 

 

 

250.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

Retained Earnings1)

 

 

4,079.2

 

 

 

3.3

 

 

 

4,082.5

 

1) Impact at adoption which included both continuing and discontinued operations.

 

 

 

 

 

 

 

 

 

 

 

 

Three months period ended September 30, 2018

 

 

Nine months period ended September 30, 2018

 

Income Statement

(Dollars in millions)

 

As Reported

 

 

Balances

without

adoption of

ASC 606

 

 

Effect of Changes

 

 

As Reported

 

 

Balances

without

adoption of

ASC 606

 

 

Effect of Changes

 

Net sales

 

$

2,033.0

 

 

$

2,032.4

 

 

$

0.6

 

 

$

6,485.4

 

 

$

6,481.2

 

 

$

4.2

 

Cost of sales

 

 

(1,646.9

)

 

 

(1,646.5

)

 

 

(0.4

)

 

 

(5,199.3

)

 

 

(5,195.7

)

 

 

(3.6

)

Operating income

 

 

192.5

 

 

 

192.5

 

 

 

0.0

 

 

 

665.0

 

 

 

664.3

 

 

 

0.7

 

 

 

 

As of September 30, 2018

 

Balance Sheet

(Dollars in millions)

 

As Reported

 

 

Balances without

adoption of

ASC 606

 

 

Effect of Changes

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Inventories, net

 

$

758.7

 

 

$

774.1

 

 

$

(15.4

)

Other current assets

 

 

271.2

 

 

 

251.9

 

 

 

19.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

Retained Earnings

 

 

2,189.7

 

 

 

2,187.0

 

 

 

2.7