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Balance Sheet Information (Tables) | 12 Months Ended
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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 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 + Details
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