CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Current Assets
Cash and equivalents	$ 317,803	$ 892,814	$ 300,455
Accounts receivable, net	794,600	1,145,099	803,111
Inventories	891,816	587,521	853,795
Prepaid expenses and other current assets	361,673	375,625	372,905
Total current assets	2,365,892	3,001,059	2,330,266
Noncurrent Assets
Property, plant, and equipment, net	736,476	741,147	733,002
Goodwill	1,394,101	1,384,520	1,393,147
Other noncurrent assets	1,435,098	1,408,417	1,620,772
Total Assets	5,931,567	6,535,143	6,077,187
Current Liabilities
Short-term borrowings	67,000	16,914	0
Current portion of long-term debt	300,000	300,000	0
Accounts payable	565,930	651,681	396,760
Accrued liabilities	431,622	658,182	484,971
Income taxes payable	8,680	18,752	7,787
Total current liabilities	1,373,232	1,645,529	889,518
Noncurrent Liabilities
Long-term debt	1,786,133	1,784,721	2,083,309
Other noncurrent liabilities	461,915	471,639	539,887
Total noncurrent liabilities	2,248,048	2,256,360	2,623,196
Stockholders’ Equity
Common stock $1.00 par value, 1.0 billion shares authorized; 441.4 million shares issued	441,369	441,369	441,369
Additional paid-in capital	1,804,356	1,789,870	1,788,993
Treasury stock at cost: 100.8 million shares, 102.8 million shares, and 101.7 million shares, respectively	(2,470,107)	(2,494,901)	(2,521,703)
Retained earnings	3,396,027	3,745,815	3,566,687
Accumulated other comprehensive loss	(861,358)	(848,899)	(710,873)
Total stockholders’ equity	2,310,287	2,633,254	2,564,473
Total Liabilities and Stockholders’ Equity	$ 5,931,567	$ 6,535,143	$ 6,077,187

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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Balance Type:	credit
Period Type:	instant

- 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.