CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current Assets
Cash and equivalents	$ 892,814	$ 971,650
Accounts receivable, net of allowances of $24.4 million and $26.3 million in 2015 and 2014, respectively	1,145,099	1,094,452
Inventories	587,521	561,755
Prepaid expenses and other current assets	571,429	559,074
Total current assets	3,196,863	3,186,931
Noncurrent Assets
Property, plant, and equipment, net	741,147	737,869
Goodwill	1,384,520	1,392,925
Other noncurrent assets	1,230,159	1,404,258
Total Assets	6,552,689	6,721,983
Current Liabilities
Short-term borrowings	16,914	0
Current portion of long-term debt	300,000	0
Accounts payable	651,681	430,259
Inventories	658,225	639,844
Income taxes payable	18,752	18,783
Total current liabilities	1,645,572	1,088,886
Noncurrent Liabilities
Long-term debt	1,800,000	2,100,000
Other noncurrent liabilities	473,863	584,026
Total noncurrent liabilities	$ 2,273,863	$ 2,684,026
Commitments and Contingencies
Stockholders' Equity
Common stock $1.00 par value, 1.0 billion shares authorized; 441.4 million shares issued	$ 441,369	$ 441,369
Additional paid-in capital	1,789,870	1,767,096
Treasury stock at cost: 101.7 million shares and 103.3 million shares in 2015 and 2014, respectively	(2,494,901)	(2,533,566)
Retained earnings	3,745,815	3,896,261
Accumulated other comprehensive loss	(848,899)	(622,089)
Total stockholders’ equity	2,633,254	2,949,071
Total Liabilities and Stockholders’ Equity	$ 6,552,689	$ 6,721,983

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.