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Condensed Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Current assets:      
Cash and cash equivalents $ 197.9 $ 180.5 $ 259.9
Receivables, net 1,181.2 1,106.5 963.7
Income taxes receivable 1.2 0.3 13.4
Inventories, net 909.2 868.3 679.5
Other current assets 148.9 92.7 96.5
Total current assets 2,438.4 2,248.3 2,013.0
Property, plant and equipment (less accumulated depreciation of $4,182.0, $4,076.5 and $3,804.4) 2,827.0 2,913.6 3,073.4
Operating lease assets, net 362.5 372.4 383.6
Deferred income taxes 95.3 99.3 11.1
Other assets 1,116.3 1,131.8 1,171.0
Intangible assets, net 314.5 331.7 381.0
Goodwill 1,420.7 1,420.6 1,420.1
Total assets 8,574.7 8,517.7 8,453.2
Current liabilities:      
Current installments of long-term debt 201.2 201.1 42.1
Accounts payable 791.5 847.7 716.6
Income taxes payable 184.9 98.4 13.4
Current operating lease liabilities 75.4 76.8 78.7
Accrued liabilities 382.1 458.1 367.4
Total current liabilities 1,635.1 1,682.1 1,218.2
Long-term debt 2,578.9 2,578.2 3,706.0
Operating lease liabilities 293.7 302.0 310.5
Accrued pension liability 355.9 381.9 699.8
Deferred income taxes 577.2 558.9 492.3
Other liabilities 348.0 362.4 329.8
Total liabilities 5,788.8 5,865.5 6,756.6
Commitments and contingencies
Shareholders’ equity:      
Common stock, $1.00 par value per share:  authorized, 240.0 shares; issued and outstanding, 151.8, 156.8 and 159.2 shares 151.8 156.8 159.2
Additional paid-in capital 1,719.3 1,969.6 2,164.3
Accumulated other comprehensive loss (461.2) (488.0) (683.7)
Retained earnings 1,376.0 1,013.8 56.8
Total shareholders’ equity 2,785.9 2,652.2 1,696.6
Total liabilities and shareholders’ equity $ 8,574.7 $ 8,517.7 $ 8,453.2