Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 179.9	$ 55.2
Receivables, less allowances for credit losses of $28.2 million at December 31, 2021, and $33.8 million at December 31, 2020	362.0	399.1
Inventories	226.2	170.2
Prepaid expenses and other current assets	41.0	54.7
Total current assets	809.1	679.2
Property, plant and equipment—net	727.0	884.2
Operating lease right-of-use assets—net	125.7	81.0
Goodwill	86.4	103.0
Other intangible assets—net	75.3	104.3
Equity method investment in unconsolidated entity	0.0	2.6
Other long-term assets	66.5	73.4
Total assets	1,890.0	1,927.7
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	367.3	320.0
Other current liabilities	314.3	310.8
Short-term debt and current portion of long-term debt	245.6	20.7
Current portion of finance lease obligations	1.8	2.8
Current portion of operating lease obligations	28.1	28.4
Total current liabilities	957.1	682.7
Long-term debt	554.9	902.7
Finance lease obligations	1.4	2.0
Operating lease obligations	99.8	54.5
Deferred income taxes	11.9	4.2
Other long-term liabilities	128.1	196.8
Total liabilities	1,753.2	1,842.9
Commitments and contingencies (Note 11)
Shareholders’ equity (Note 19)
Additional paid-in capital	839.3	833.1
Treasury stock, at cost, 1.4 million shares at December 31, 2021, and 0.8 million shares at December 31, 2020	(14.9)	(13.1)
Accumulated deficit	(527.8)	(566.0)
Accumulated other comprehensive loss	(161.2)	(171.3)
Quad’s shareholders’ equity	136.8	84.1
Noncontrolling interests	0.0	0.7
Total shareholders’ equity and noncontrolling interests	136.8	84.8
Total liabilities and shareholders’ equity	1,890.0	1,927.7
Preferred Stock
Shareholders’ equity (Note 19)
Preferred stock, $0.01 par value; Authorized: 0.5 million shares; Issued: None	0.0	0.0
Common Class A
Shareholders’ equity (Note 19)
Common stock, value, issued	1.0	1.0
Common Class B
Shareholders’ equity (Note 19)
Common stock, value, issued	0.4	0.4
Common Class C
Shareholders’ equity (Note 19)
Common stock, value, issued	$ 0.0	$ 0.0

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).