Balance Sheet Information (Tables)

12 Months Ended

Dec. 31, 2017

Balance Sheet Related Disclosures [Abstract]

Balance sheet information

	December 31,
(millions of dollars)	2017			2016
Receivables, net:
Customers	$	1,735.7		$	1,448.3
Indirect taxes	152.1			99.1
Other	136.8			144.8
Gross receivables	2,024.6			1,692.2
Bad debt allowance(a)	(5.7		)	(2.9		)
Total receivables, net	$	2,018.9		$	1,689.3
Inventories, net:
Raw material and supplies	$	469.7		$	378.6
Work in progress	126.7			102.9
Finished goods	183.0			174.9
FIFO inventories	779.4			656.4
LIFO reserve	(13.1		)	(15.2		)
Total inventories, net	$	766.3		$	641.2
Prepayments and other current assets:
Prepaid tooling	$	81.9		$	77.5
Prepaid taxes	5.3			8.0
Other	58.2			51.9
Total prepayments and other current assets	$	145.4		$	137.4
Property, plant and equipment, net:
Land and land use rights	$	115.7		$	111.0
Buildings	783.5			670.6
Machinery and equipment	2,734.4			2,371.2
Capital leases	1.5			3.9
Construction in progress	410.5			338.2
Property, plant and equipment, gross	4,045.6			3,494.9
Accumulated depreciation	(1,391.7		)	(1,137.5		)
Property, plant & equipment, net, excluding tooling	2,653.9			2,357.4
Tooling, net of amortization	209.9			144.4
Property, plant & equipment, net	$	2,863.8		$	2,501.8
Investments and other long-term receivables:
Investment in equity affiliates	$	239.6		$	218.9
Other long-term receivables	307.8			283.3
Total investments and other long-term receivables	$	547.4		$	502.2
Other non-current assets:
Deferred income taxes	$	121.2		$	424.0
Asbestos insurance asset	127.7			178.7
Other	209.8			150.7
Total other non-current assets	$	458.7		$	753.4

	December 31,
(millions of dollars)	2017		2016
Accounts payable and accrued expenses:
Trade payables	$	1,545.6	$	1,259.4
Payroll and employee related	239.7		206.4
Indirect taxes	111.0		63.9
Product warranties	69.0		63.9
Customer related	75.7		52.8
Asbestos-related liability	52.5		51.7
Interest	22.9		22.9
Retirement related	17.2		18.1
Dividends payable to noncontrolling shareholders	17.7		15.7
Unrecognized tax benefits	0.8		15.5
Insurance	10.1		7.8
Severance	5.8		6.4
Derivatives	5.0		1.2
Other	97.3		61.6
Total accounts payable and accrued expenses	$	2,270.3	$	1,847.3
Other non-current liabilities:
Deferred income taxes	$	61.4	$	54.2
Deferred revenue	52.4		33.5
Product warranties	42.5		31.4
Other	199.2		156.6
Total other non-current liabilities	$	355.5	$	275.7

(a) Bad debt allowance:	2017			2016			2015
Beginning balance, January 1	$	(2.9	)	$	(1.9	)	$	(2.3	)
Provision	(2.7		)	(3.2		)	(0.5		)
Write-offs	0.1			0.2			0.7
Business divestiture	—			2.0			—
Translation adjustment and other	(0.2		)	—			0.2
Ending balance, December 31	$	(5.7	)	$	(2.9	)	$	(1.9	)

Summarized financial data for NSK-Warner

			November 30,
(millions of dollars)			2017		2016
Balance sheets:
Cash and securities			$	104.6	$	98.6
Current assets, including cash and securities			289.2		256.3
Non-current assets			231.9		194.5
Current liabilities			154.9		122.6
Non-current liabilities			68.1		48.2
Total equity			298.1		280.0
	Year Ended November 30,
(millions of dollars)	2017		2016		2015
Statements of operations:
Net sales	$	669.6	$	601.8	$	519.0
Gross profit	149.2		134.1		118.6
Net earnings	85.2		71.7		73.3