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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 273.8 $ 427.0
Accounts receivable, net of allowance for doubtful accounts of $10.0 as of September 30, 2023 and $8.0 as of December 31, 2022 323.5 269.7
Inventories, net:    
Finished goods 64.5 57.2
Finished parts and subassemblies 52.6 47.7
Work in process 41.3 27.2
Raw materials 192.5 162.1
Inventories, net 350.9 294.2
Other current assets 110.5 135.1
Current assets of discontinued operations 0.0 625.9
Total current assets 1,058.7 1,751.9
Property, plant and equipment:    
Cost 751.4 729.2
Less: accumulated depreciation 498.0 480.9
Property, plant and equipment, net 253.4 248.3
Long-term deferred tax assets 4.1 3.1
Other assets 118.9 120.8
Intangible assets, net 67.4 71.7
Goodwill 689.4 690.9
Long-term assets of discontinued operations 0.0 1,504.9
Total assets 2,191.9 4,391.6
Current liabilities:    
Short-term borrowings 0.0 399.6
Accounts payable 150.5 179.2
Accrued liabilities 238.4 260.5
U.S. and foreign taxes on income 26.7 34.2
Current liabilities of discontinued operations 0.0 614.7
Total current liabilities 415.6 1,488.2
Long-term debt, net 250.3 0.0
Accrued pension and postretirement benefits 112.0 132.0
Long-term deferred tax liability 29.8 55.3
Other liabilities 97.7 85.2
Long-term liabilities of discontinued operations 0.0 726.9
Total liabilities 905.4 2,487.6
Commitments and contingencies (Note 11)
Equity:    
Common shares, par value $1.00; 66,475,672 and 200,000,000 shares authorized, respectively 56.8 72.4
Capital surplus 387.7 373.8
Retained earnings 921.6 2,822.8
Accumulated other comprehensive loss (82.0) (503.3)
Treasury stock 0.0 (864.3)
Total shareholders’ equity 1,284.1 1,901.4
Noncontrolling interests 2.4 2.6
Total equity 1,286.5 1,904.0
Total liabilities and equity $ 2,191.9 $ 4,391.6
Share data:    
Common shares issued (in shares) 56,798,744 72,426,389
Less: Common shares held in treasury (in shares) 0 16,101,007
Common shares outstanding (in shares) 56,798,744 56,325,382