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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 28, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,036.2 $ 940.0
Trade accounts receivable, less allowance for credit losses of $27.7 and $17.3, respectively 380.6 407.5
Inventories, net 263.8 258.8
Prepaid expenses and other current assets 141.3 137.4
Total current assets 1,821.9 1,743.7
Property, plant and equipment, net 290.8 309.6
Operating lease right-of-use assets 125.0 125.1
Other long-term assets 218.6 180.5
Goodwill, net 2,283.7 3,292.2
Other intangible assets, net 698.1 954.0
Total assets 5,438.1 6,605.1
Current liabilities:    
Short-term debt 115.7 115.3
Trade accounts payable 172.4 179.5
Accrued expenses and other liabilities 498.8 455.7
Operating lease liabilities 34.5 30.3
Total current liabilities 821.4 780.8
Operating lease liabilities 103.8 109.9
Other long-term liabilities 147.5 142.4
Long-term debt 1,388.7 1,398.1
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued or outstanding at June 28, 2024 and December 31, 2023 0.0 0.0
Common stock, $0.01 par value, 500.0 million shares authorized; 173.9 million shares issued and 171.9 million shares outstanding at June 28, 2024; 173.3 million shares issued and 171.5 million shares outstanding at December 31, 2023 1.7 1.7
Additional paid-in capital 3,773.4 3,758.2
Accumulated (deficit) earnings (496.8) 631.2
Accumulated other comprehensive loss (301.6) (217.2)
Total stockholders’ equity 2,976.7 4,173.9
Total liabilities and stockholders’ equity $ 5,438.1 $ 6,605.1