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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 576.2 $ 840.6
Restricted cash 10.6 10.6
Accounts and notes receivable, net 1,029.8 937.5
Inventories 764.0 669.7
Prepaid expenses and other current assets 135.7 117.2
Total current assets 2,516.3 2,575.6
Property, plant and equipment, net 1,184.4 1,186.2
Goodwill 1,574.4 1,592.7
Identifiable intangibles, net 1,237.5 1,278.2
Other assets 568.9 584.5
Total assets 7,081.5 7,217.2
Current liabilities:    
Accounts payable 748.0 657.4
Current portion of borrowings 76.1 79.7
Other accrued liabilities 520.9 597.8
Total current liabilities 1,345.0 1,334.9
Long-term borrowings 3,739.2 3,749.9
Accrued pensions 261.4 269.3
Deferred income taxes 165.5 174.7
Other liabilities 149.2 149.7
Total liabilities 5,660.3 5,678.5
Commitments and contingent liabilities (Note 6)
Shareholders’ equity:    
Common shares, $1.00 par, 1,000.0 shares authorized, 252.2 and 251.8 shares issued at March 31, 2022 and December 31, 2021, respectively 252.2 251.8
Capital in excess of par 1,518.2 1,515.5
Retained earnings 868.7 827.2
Treasury shares, at cost, 30.8 and 24.4 shares at March 31, 2022 and December 31, 2021, respectively (862.3) (687.2)
Accumulated other comprehensive loss (401.4) (414.4)
Total Axalta shareholders’ equity 1,375.4 1,492.9
Noncontrolling interests 45.8 45.8
Total shareholders’ equity 1,421.2 1,538.7
Total liabilities and shareholders’ equity $ 7,081.5 $ 7,217.2