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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Current assets:      
Cash and cash equivalents $ 161.8 $ 155.5 $ 204.2
Accounts receivable, less allowance 2,088.9 2,018.8 2,104.6
Inventories:      
Finished goods 1,509.6 1,426.4 1,356.5
Work in process and raw materials 380.0 388.9 386.0
Total inventory 1,889.6 1,815.3 1,742.5
Other current assets 491.4 354.9 355.7
Total current assets 4,631.7 4,344.5 4,407.0
Property, plant and equipment:      
Land 242.1 244.6 254.7
Buildings 1,044.2 979.1 962.1
Machinery and equipment 2,952.1 2,668.5 2,573.0
Construction in progress 144.0 147.9 177.0
Total gross property, plant and equipment 4,382.4 4,040.1 3,966.8
Less allowances for depreciation 2,547.2 2,263.3 2,089.7
Total net property, plant and equipment 1,835.2 1,776.8 1,877.1
Goodwill 7,004.8 6,956.7 6,814.3
Intangible assets 4,734.5 5,201.6 6,002.4
Operating lease right-of-use assets 1,685.6    
Deferred pension assets 43.0 270.7 296.7
Other assets 561.4 584.0 502.0
Total Assets 20,496.2 19,134.3 19,899.5
Current liabilities:      
Short-term borrowings 204.7 328.4 633.7
Accounts payable 1,876.3 1,799.4 1,791.5
Compensation and taxes withheld 552.7 504.5 508.2
Accrued taxes 85.7 80.8 79.9
Current portion of long-term debt 429.8 307.2 1.2
California litigation accrual 12.0 136.3
Current portion of operating lease liabilities 371.6    
Other accruals 989.1 1,141.1 972.7
Total current liabilities 4,521.9 4,297.7 3,987.2
Long-term debt 8,050.7 8,708.1 9,885.7
Postretirement benefits other than pensions 263.0 257.6 274.7
Deferred income taxes 969.9 1,130.9 1,419.6
Long-term operating lease liabilities 1,370.7    
Other long-term liabilities 1,196.7 1,009.3 684.4
Shareholders’ equity:      
Common stock - $1.00 par value: 92,144,839, 93,116,762 and 93,883,645 shares outstanding at December 31, 2019, 2018 and 2017, respectively 119.4 118.4 117.6
Other capital 3,153.0 2,896.4 2,723.2
Retained earnings 7,366.9 6,246.5 5,458.4
Treasury stock, at cost (5,836.5) (4,900.7) (4,266.4)
Accumulated other comprehensive loss (679.5) (629.9) (384.9)
Total shareholders’ equity 4,123.3 3,730.7 3,647.9
Total Liabilities and Shareholders’ Equity $ 20,496.2 $ 19,134.3 $ 19,899.5