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CONSOLIDATED AND CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Current assets:      
Cash and cash equivalents $ 175.5 $ 227.2  
Accounts receivable, net of allowance for credit losses of $10.5 as of June 30, 2024 and $11.8 as of December 31, 2023 225.4 214.9  
U.S. and foreign taxes on income 5.1   $ 0.0
Inventories, net:      
Finished goods 45.3 35.6  
Finished parts and subassemblies 24.3 22.7  
Work in process 12.9 6.4  
Raw materials 88.5 92.4  
Inventories, net 171.0 157.1  
Other current assets 54.9 45.2  
Total current assets 631.9 644.4  
Property, plant and equipment:      
Cost 585.9 564.1  
Less: accumulated depreciation 314.7 302.9  
Property, plant and equipment, net 271.2 261.2  
Long-term deferred tax assets 3.7 2.7  
Intangible assets, net 443.6 308.9  
Goodwill 950.4 841.2  
Other assets 86.7 71.0  
Total assets 2,387.5 2,129.4  
Current liabilities:      
Short-term borrowings 220.2 4.6  
Accounts payable 101.3 106.5  
Accrued liabilities 205.4 210.5  
U.S. and foreign taxes on income 0.0 12.8  
Total current liabilities 526.9 334.4  
Long-term debt 638.9 640.3  
Accrued pension and postretirement benefits 21.9 22.5  
Long-term deferred tax liability 132.2 104.5  
Other liabilities 77.8 63.7  
Total liabilities 1,397.7 1,165.4  
Commitments and contingencies (Note 12)  
Equity:      
Preferred shares, par value $0.01; 5,000,000 shares authorized 0.0 0.0  
Common shares, par value $1.00; 200,000,000 shares authorized, 72,441,647 shares issued 72.4 72.4  
Capital surplus 1,716.8 1,728.1  
Retained earnings 182.0 120.9  
Accumulated other comprehensive loss (154.8) (118.6)  
Treasury stock (826.6) (838.8)  
Total equity 989.8 964.0 $ 855.2
Total liabilities and equity $ 2,387.5 $ 2,129.4  
Share data:      
Common shares issued (in shares) 72,441,647 72,441,647  
Less: Common shares held in treasury (in shares) 15,306,094 15,544,190  
Common shares outstanding (in shares) 57,135,553 56,897,457