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CONSOLIDATED AND CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Current assets:      
Cash and cash equivalents $ 165.1 $ 227.2  
Accounts receivable, net of allowance for credit losses of $9.5 as of September 30, 2024 and $11.8 as of December 31, 2023 215.2 214.9  
U.S. and foreign taxes on income 18.0   $ 0.0
Inventories, net:      
Finished goods 30.7 35.6  
Finished parts and subassemblies 25.8 22.7  
Work in process 13.8 6.4  
Raw materials 99.5 92.4  
Inventories, net 169.8 157.1  
Other current assets 62.5 45.2  
Total current assets 630.6 644.4  
Property, plant and equipment:      
Cost 609.1 564.1  
Less: accumulated depreciation 331.1 302.9  
Property, plant and equipment, net 278.0 261.2  
Long-term deferred tax assets 0.9 2.7  
Intangible assets, net 440.2 308.9  
Goodwill 965.4 841.2  
Other assets 95.5 71.0  
Total assets 2,410.6 2,129.4  
Current liabilities:      
Short-term borrowings 155.0 4.6  
Accounts payable 108.4 106.5  
Accrued liabilities 183.1 210.5  
U.S. and foreign taxes on income 9.9 12.8  
Total current liabilities 456.4 334.4  
Long-term debt 638.2 640.3  
Accrued pension and postretirement benefits 22.6 22.5  
Long-term deferred tax liability 130.8 104.5  
Other liabilities 91.9 63.7  
Total liabilities 1,339.9 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 1,718.2 1,728.1  
Retained earnings 220.0 120.9  
Accumulated other comprehensive loss (115.6) (118.6)  
Treasury stock (824.3) (838.8)  
Total equity 1,070.7 964.0 $ 872.6
Total liabilities and equity $ 2,410.6 $ 2,129.4  
Share data:      
Common shares issued (in shares) 72,441,647 72,441,647  
Less: Common shares held in treasury (in shares) 15,263,435 15,544,190  
Common shares outstanding (in shares) 57,178,212 56,897,457