BALANCE SHEET INFORMATION

12 Months Ended

Dec. 31, 2023

BALANCE SHEET INFORMATION

BALANCE SHEET INFORMATION

5. BALANCE SHEET INFORMATION

	December 31		December 31
(millions)	2023		2022
Accounts receivable, net
Accounts receivable		$2,983.2		$2,829.0
Allowance for expected credit losses and other accruals		(149.0)		(130.9)
Total		$2,834.2		$2,698.1
Inventories
Finished goods		$911.4		$1,122.7
Raw materials and parts		704.7		849.2
Inventories at FIFO cost		1,616.1		1,971.9
FIFO cost to LIFO cost difference		(118.9)		(179.1)
Total		$1,497.2		$1,792.8
Other current assets
Prepaid assets		$143.9		$123.9
Taxes receivable		186.9		184.1
Derivative assets		3.3		57.5
Other		59.1		39.2
Total		$393.2		$404.7
Property, plant and equipment, net
Land		$155.6		$161.3
Buildings and leasehold improvements		1,171.0		1,126.9
Machinery and equipment		2,113.8		1,966.3
Merchandising and customer equipment		2,758.4		2,635.5
Capitalized software		985.9		962.1
Construction in progress		470.1		403.8
		7,654.8		7,255.9
Accumulated depreciation		(4,180.2)		(3,962.5)
Total		$3,474.6		$3,293.4
Other intangible assets, net
Intangible assets not subject to amortization
Trade names		$1,230.0		$1,230.0
Intangible assets subject to amortization
Customer relationships		3,385.1		3,292.8
Patents		503.6		497.0
Trademarks		406.5		404.0
Other technologies		551.2		518.8
		4,846.4		4,712.6
Accumulated amortization
Customer relationships		(1,805.0)		(1,581.7)
Patents		(319.4)		(292.3)
Trademarks		(238.0)		(202.5)
Other technologies		(220.5)		(185.4)
		(2,582.9)		(2,261.9)
Net intangible assets subject to amortization		2,263.5		2,450.7
Total		$3,493.5		$3,680.7
Other assets
Deferred income taxes		$119.3		$108.1
Pension		118.4		118.4
Derivative asset		23.6		44.5
Other		271.4		264.1
Total		$532.7		$535.1

	December 31		December 31
(millions)	2023		2022
Other current liabilities
Discounts and rebates		$438.8		$357.8
Dividends payable		162.7		150.8
Interest payable		68.5		58.7
Taxes payable, other than income		153.2		162.9
Derivative liability		3.7		21.9
Restructuring		48.9		100.6
Contract liability		110.9		116.5
Operating lease liabilities		126.1		108.3
Other		222.1		208.4
Total		$1,334.9		$1,285.9
Accumulated other comprehensive income (loss)
Unrealized (loss) gain on derivative financial instruments, net of tax		($4.1)		$3.7
Unrecognized pension and postretirement benefit expense, net of tax		(534.7)		(467.4)
Cumulative translation, net of tax		(1,311.6)		(1,262.9)
Total		($1,850.4)		($1,726.6)