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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 585.2 $ 606.9
Trade accounts receivable, less allowance for credit losses of $16.0 and $16.2, respectively 401.8 393.5
Inventories, net 307.2 300.8
Prepaid expenses and other current assets 120.1 123.4
Total current assets 1,414.3 1,424.6
Property, plant and equipment, net 297.6 293.6
Operating lease right-of-use assets 132.9 131.8
Other long-term assets 158.3 153.7
Goodwill 3,506.4 3,496.6
Other intangible assets, net 1,065.5 1,086.7
Total assets 6,575.0 6,587.0
Current liabilities:    
Short-term debt 510.8 510.0
Trade accounts payable 186.8 228.3
Accrued expenses and other liabilities 423.6 471.4
Operating lease liabilities 28.4 27.0
Total current liabilities 1,149.6 1,236.7
Operating lease liabilities 121.3 121.4
Other long-term liabilities 151.3 151.3
Long-term debt 873.8 870.7
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued or outstanding at March 31, 2023 and December 31, 2022 0.0 0.0
Common stock - $0.01 par value, 500.0 million shares authorized; 164.4 million shares issued and 163.7 million shares outstanding at March 31, 2023; 163.7 million shares issued and 163.2 million shares outstanding at December 31, 2022 1.6 1.6
Additional paid-in capital 3,712.8 3,699.0
Retained earnings 775.2 731.4
Accumulated other comprehensive loss (210.6) (225.1)
Total stockholders’ equity 4,279.0 4,206.9
Total liabilities and stockholders’ equity $ 6,575.0 $ 6,587.0