CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 29, 2025	Dec. 28, 2024
Current assets:
Cash and cash equivalents	$ 195.9	$ 329.1
Trade accounts receivable, less allowances of $28.9 and $29.0 at March 29, 2025 and December 28, 2024, respectively	1,518.0	1,466.2
Inventories	1,017.5	978.1
Other current assets	299.0	305.3
Total current assets	3,030.4	3,078.7
Property, plant and equipment, net	1,583.0	1,586.7
Goodwill	1,991.4	1,976.2
Other intangibles resulting from business acquisitions, net	734.7	755.3
Deferred tax assets	119.0	110.0
Other assets	896.2	897.3
Total assets	8,354.7	8,404.2
Current liabilities:
Short-term borrowings and current portion of long-term debt and finance leases	877.5	592.3
Accounts payable	1,272.6	1,340.7
Accrued payroll and employee benefits	192.8	288.9
Other current liabilities	609.9	640.7
Total current liabilities	2,952.8	2,862.6
Long-term debt and finance leases	2,581.6	2,559.9
Long-term retirement benefits and other liabilities	430.8	434.6
Deferred tax liabilities and income taxes payable	219.0	234.8
Commitments and contingencies (see Note 10)
Shareholders’ equity:
Common stock, $1 par value per share, authorized – 400,000,000 shares at March 29, 2025 and December 28, 2024; issued – 124,126,624 shares at March 29, 2025 and December 28, 2024; outstanding – 78,552,144 shares and 79,800,396 shares at March 29, 2025 and December 28, 2024, respectively	124.1	124.1
Capital in excess of par value	817.7	840.6
Retained earnings	5,276.5	5,151.2
Treasury stock at cost, 45,574,480 shares and 44,326,228 shares at March 29, 2025 and December 28, 2024, respectively	(3,598.6)	(3,347.5)
Accumulated other comprehensive loss	(449.2)	(456.1)
Total shareholders’ equity	2,170.5	2,312.3
Total liabilities and shareholders’ equity	$ 8,354.7	$ 8,404.2

This element represents both deferred and payable income taxes. deferred income taxes are defined as the amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Noncurrent refundable income taxes are defined as the carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due beyond one year or the operating cycle, whichever is longer. Alternate captions include income taxes payable.

No definition available.