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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Current assets:      
Cash and cash equivalents $ 94,393 $ 155,505 $ 158,613
Accounts receivable, less allowance 2,339,551 2,018,768 2,326,411
Inventories:      
Finished goods 1,618,404 1,426,366 1,510,534
Work in process and raw materials 375,033 388,909 432,186
Total net inventory 1,993,437 1,815,275 1,942,720
Other current assets 387,763 354,939 400,249
Total current assets 4,815,144 4,344,487 4,827,993
Property, plant and equipment:      
Land 243,686 244,608 248,613
Buildings 984,349 979,140 955,376
Machinery and equipment 2,670,902 2,668,492 2,604,311
Construction in progress 142,881 147,931 171,416
Total gross property, plant and equipment 4,041,818 4,040,171 3,979,716
Less allowances for depreciation 2,278,820 2,263,332 2,139,711
Total net property, plant and equipment 1,762,998 1,776,839 1,840,005
Goodwill 6,956,394 6,956,702 6,819,976
Intangible assets 5,127,133 5,201,579 5,956,301
Operating lease right-of-use assets 1,663,444
Deferred pension assets 35,997 270,664 298,455
Other assets 600,531 584,008 566,046
Total assets 20,961,641 19,134,279 20,308,776
Current liabilities:      
Short-term borrowings 824,833 328,403 920,010
Accounts payable 1,894,005 1,799,424 1,975,323
Compensation and taxes withheld 400,795 504,547 417,316
Accrued taxes 128,944 80,766 113,023
Current portion of long-term debt 303,896 307,191 1,179
California litigation accrual 136,333 136,333
Current portion of operating lease liabilities 356,457
Other accruals 955,293 1,141,083 900,301
Total current liabilities 5,000,556 4,297,747 4,327,152
Long-term debt 8,702,630 8,708,057 9,891,017
Postretirement benefits other than pensions 258,736 257,621 275,735
Deferred income taxes 1,128,804 1,130,872 1,480,066
Long-term operating lease liabilities 1,371,437
Other long-term liabilities 1,039,417 1,009,237 689,075
Shareholders’ equity:      
Common stock 118,672 118,373 117,875
Other capital 2,945,521 2,896,448 2,761,206
Retained earnings 6,386,948 6,246,548 5,630,323
Treasury stock, at cost (5,358,887) (4,900,690) (4,528,018)
Cumulative other comprehensive loss (632,193) (629,934) (335,655)
Total shareholders' equity 3,460,061 3,730,745 3,645,731
Total liabilities and shareholders’ equity $ 20,961,641 $ 19,134,279 $ 20,308,776