Balance Sheet Information (Tables)

12 Months Ended

Dec. 31, 2011

Balance Sheet Information (Tables) [Abstract]

Balance sheet information

	December 31,
(millions of dollars)	2011			2010
Receivables, net:
Customers	$	1,037.4		$	859.5
Other	149.9			168.4
Gross receivables	1,187.3			1,027.9
Bad debt allowance(a)	(4.3		)	(4.0		)
Total receivables, net	$	1,183.0		$	1,023.9
Inventories, net:
Raw material and supplies	$	254.4		$	244.0
Work in progress	90.9			88.1
Finished goods	124.3			111.7
FIFO inventories	469.6			443.8
LIFO reserve	(15.3		)	(13.2		)
Total inventories, net	$	454.3		$	430.6
Prepayments and other current assets:
Prepaid tooling	$	23.5		$	21.8
Product liability insurance asset	28.8			25.8
Derivatives	2.7			2.7
Prepaid taxes	0.8			5.8
Other	26.6			23.6
Total prepayments and other current assets	$	82.4		$	79.7
Property, plant and equipment, net:
Land	$	71.2		$	67.9
Buildings	616.7			601.4
Machinery and equipment	2,006.9			1,961.2
Capital leases	2.3			2.3
Construction in progress	206.8			128.2
Property, plant and equipment, gross	2,903.9			2,761.0
Accumulated depreciation	(1,343.9		)	(1,308.0		)
Property, plant & equipment, net, excluding tooling	1,560.0			1,453.0
Tooling, net of amortization	104.3			89.6
Property, plant & equipment, net	$	1,664.3		$	1,542.6
Investments and advances:
Investment in equity affiliates	$	217.4		$	205.2
Other investments and advances	127.9			102.7
Total investments and advances	$	345.3		$	307.9
Other non-current assets:
Product liability insurance asset	$	32.9		$	24.8
Deferred income taxes	313.9			305.5
Other intangible assets	243.3			168.8
Other	34.9			32.0
Total other non-current assets	$	625.0		$	531.1

	December 31,
(millions of dollars)	2011		2010
Accounts payable and accrued expenses:
Trade payables	$	820.7	$	737.7
Trade payables for capital expenditures	48.9		28.9
Payroll and employee related	201.9		190.2
Product warranties	38.6		37.0
Retirement related	30.9		34.7
Customer related	29.9		32.5
Product liability	28.8		25.8
Interest	14.2		14.3
Dividends payable to noncontrolling shareholders	11.7		4.2
Insurance	10.5		11.9
Legal and professional fees	6.8		8.6
Current deferred income taxes	6.5		18.4
Severance	5.6		4.6
Environmental	3.4		21.0
Derivatives	2.4		3.3
Other	37.0		51.0
Total accounts payable and accrued expenses	$	1,297.8	$	1,224.1
Other non-current liabilities:
Deferred income taxes	$	120.2	$	113.7
Cross currency swaps and derivatives	85.5		78.8
Product warranties	34.1		29.8
Product liability	32.9		24.8
Deferred revenue	26.0		23.4
Environmental	8.1		8.2
Other	85.1		84.2
Total other non-current liabilities	$	391.9	$	362.9

(a) Bad debt allowance:	2011			2010			2009
Beginning balance, January 1	$	(4.0	)	$	(4.3	)	$	(5.7	)
Provision	(1.4		)	(1.1		)	0.1
Write-offs	1.0			2.5			1.4
Translation adjustment and other	0.1			(1.1		)	(0.1		)
Ending balance, December 31	$	(4.3	)	$	(4.0	)	$	(4.3	)

Summarized financial data for NSK-Warner

	November 30,
(millions of dollars)	2011		2010
Balance sheets:
Cash and securities	$	119.4	$	109.1
Current assets, including cash and securities	344.1		310.2
Non-current assets	182.0		174.9
Current liabilities	172.1		151.4
Non-current liabilities	45.3		41.9
Total equity	308.7		291.8
	Year Ended November 30,
(millions of dollars)	2011		2010		2009
Statements of operations:
Net sales	$	655.2	$	634.7	$	494.5
Gross profit	128.5		131.9		89.2
Net income	61.6		68.3		35.8