CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 271.4	$ 202.8
Trade accounts receivable, less allowances of $28.1 at September 30, 2026 and December 31, 2025	1,709.6	1,503.9
Inventories	1,048.2	975.8
Other current assets	354.5	307.8
Total current assets	3,383.7	2,990.3
Property, plant and equipment, net	1,558.7	1,607.7
Goodwill	2,261.8	2,272.5
Other intangibles resulting from business acquisitions, net	751.1	827.5
Deferred tax assets	140.1	125.3
Other assets	1,073.0	978.4
Total assets	9,168.4	8,801.7
Current liabilities:
Short-term borrowings and current portion of long-term debt and finance leases	440.8	522.9
Accounts payable	1,465.9	1,261.7
Accrued payroll and employee benefits	279.7	232.7
Other current liabilities	728.6	636.3
Total current liabilities	2,915.0	2,653.6
Long-term debt and finance leases	3,174.2	3,210.0
Long-term retirement benefits and other liabilities	416.3	432.0
Deferred tax liabilities and income taxes payable	274.3	264.0
Commitments and contingencies (see Note 11)
Shareholders’ equity:
Common stock, $1 par value per share, authorized – 400,000,000 shares at September 30, 2026 and December 31, 2025; issued – 124,126,624 shares at September 30, 2026 and December 31, 2025; outstanding – 75,604,192 and 76,877,487 shares at September 30, 2026 and December 31, 2025, respectively	124.1	124.1
Capital in excess of par value	831.5	834.3
Retained earnings	5,944.1	5,597.5
Treasury stock at cost, 48,522,432 shares and 47,249,137 shares at September 30, 2026 and December 31, 2025, respectively	(4,144.4)	(3,904.1)
Accumulated other comprehensive loss	(366.7)	(409.7)
Total shareholders’ equity	2,388.6	2,242.1
Total liabilities and shareholders’ equity	$ 9,168.4	$ 8,801.7

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.