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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Sep. 29, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 824.2 $ 606.9
Trade accounts receivable, less allowance for credit losses of $16.0 and $16.2, respectively 417.1 393.5
Inventories, net 278.8 300.8
Prepaid expenses and other current assets 120.6 123.4
Total current assets 1,640.7 1,424.6
Property, plant and equipment, net 304.0 293.6
Operating lease right-of-use assets 126.6 131.8
Other long-term assets 152.9 153.7
Goodwill 3,458.2 3,496.6
Other intangible assets, net 1,001.4 1,086.7
Total assets 6,683.8 6,587.0
Current liabilities:    
Short-term debt 115.1 510.0
Trade accounts payable 168.6 228.3
Accrued expenses and other liabilities 433.7 471.4
Operating lease liabilities 29.4 27.0
Total current liabilities 746.8 1,236.7
Operating lease liabilities 112.3 121.4
Other long-term liabilities 150.5 151.3
Long-term debt 1,381.0 870.7
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued or outstanding at September 29, 2023 and December 31, 2022 0.0 0.0
Common stock - $0.01 par value, 500.0 million shares authorized; 173.2 million shares issued and 171.3 million shares outstanding at September 29, 2023; 163.7 million shares issued and 163.2 million shares outstanding at December 31, 2022 1.7 1.6
Additional paid-in capital 3,749.7 3,699.0
Retained earnings 848.6 731.4
Accumulated other comprehensive loss (306.8) (225.1)
Total stockholders’ equity 4,293.2 4,206.9
Total liabilities and stockholders’ equity $ 6,683.8 $ 6,587.0