CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2017	Jun. 30, 2016
Current assets:
Cash and cash equivalents	$ 66.3	$ 82.0
Accounts receivable, net of allowance for doubtful accounts of $2.6 million and $4.1 million at June 30, 2017 and 2016, respectively	290.4	253.6
Inventories	690.4	628.7
Other current assets	46.5	46.4
Total current assets	1,093.6	1,010.7
Property, plant and equipment, net	1,316.8	1,351.4
Goodwill	263.4	244.8
Other intangibles, net	64.9	63.2
Deferred income taxes	7.6	8.2
Other assets	131.8	116.0
Total assets	2,878.1	2,794.3
Current liabilities:
Current portion of long term debt	55.0	0.0
Accounts payable	201.1	159.6
Accrued liabilities	139.9	139.2
Total current liabilities	396.0	298.8
Long-term debt, net of current portion	550.0	611.3
Accrued pension liabilities	378.3	509.3
Accrued postretirement benefits	122.6	116.6
Deferred income taxes	184.8	102.4
Other liabilities	47.8	51.0
Total liabilities	1,679.5	1,689.4
Contingencies and commitments (see Note 11)
STOCKHOLDERS’ EQUITY
Common stock — authorized 100,000,000 shares; issued 55,349,658 shares at June 30, 2017 and 55,254,569 shares at June 30, 2016; outstanding 46,753,180 shares at June 30, 2017 and 46,600,125 shares at June 30, 2016	276.7	276.3
Capital in excess of par value	284.8	273.5
Reinvested earnings	1,321.8	1,308.9
Common stock in treasury (8,596,478 shares and 8,654,444 shares at June 30, 2017 and 2016, respectively), at cost	(341.6)	(343.9)
Accumulated other comprehensive loss	(343.1)	(409.9)
Total equity	1,198.6	1,104.9
Total liabilities and equity	$ 2,878.1	$ 2,794.3

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

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.