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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 67.0 $ 76.9
Accounts receivable less allowances for discounts and doubtful accounts of $16.0 and Accounts receivable less allowances for discounts, doubtful accounts and returns of $18.1, respectively 428.4 469.3
Inventories 340.6 254.2
Other current assets 44.2 29.2
Total current assets 880.2 829.6
Total property, plant and equipment 618.7 645.2
Less: accumulated depreciation (355.0) (366.7)
Property, plant and equipment, net [1] 263.7 278.5
Deferred income taxes 115.1 137.9
Goodwill 708.9 670.3
Identifiable intangibles, net of accumulated amortization of $236.4 and $203.7, respectively 787.0 839.9
Other non-current assets 31.5 42.9
Total assets 2,786.4 2,799.1
Current liabilities:    
Current portion of long-term debt 39.5 43.2
Accounts payable 274.6 178.2
Accrued compensation 41.6 60.9
Accrued customer program liabilities 114.5 141.1
Accrued interest 1.2 1.2
Other current liabilities 127.8 113.8
Total current liabilities 599.2 538.4
Long-term debt, net of debt issuance costs of $5.5 and $7.1, respectively 843.0 889.2
Deferred income taxes 176.2 177.1
Pension and post-retirement benefit obligations 257.2 275.5
Other non-current liabilities 121.1 144.8
Total liabilities 1,996.7 2,025.0
Stockholders' equity:    
Preferred stock, $0.01 par value, 25,000,000 shares authorized; none issued and outstanding 0.0 0.0
Common stock, $0.01 par value, 200,000,000 shares authorized; 106,249,322 and 109,597,197 shares issued and 102,748,700 and 106,684,084 outstanding, respectively 1.1 1.1
Treasury stock, 3,500,622 and 2,913,113 shares, respectively (33.9) (26.4)
Paid-in capital 1,941.0 1,999.7
Accumulated other comprehensive loss (461.7) (461.1)
Accumulated deficit (656.8) (739.2)
Total stockholders' equity 789.7 774.1
Total liabilities and stockholders' equity $ 2,786.4 $ 2,799.1
[1] Net property, plant and equipment as of December 31, 2018 and 2017 contained $51.9 million and $42.1 million, respectively of computer software assets, respectively, which are classified within machinery and equipment and construction in progress. Amortization expense for software was $8.2 million, $7.1 million and $7.0 million for the years ended December 31, 2018, 2017 and 2016, respectively.