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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 315.7 $ 358.4 [1]
Trade receivables, net of allowance for doubtful accounts of $24.6 in 2016 and $24.9 in 2015 787.6 758.4 [1]
Income tax receivables 25.3 22.7 [1]
Other receivables 141.8 124.8 [1]
Inventories, net of inventory reserves of $25.6 in 2016 and $21.9 in 2015 736.5 660.8 [1]
Assets held for sale 3.5 10.3 [1]
Prepaid expenses and other current assets 308.7 280.2 [1]
Total current assets 2,319.1 2,215.6 [1]
Property and equipment, net 954.4 930.7 [1]
Goodwill 2,929.4 2,909.5 [1]
Intangible assets, net 783.6 784.3 [1]
Non-current deferred taxes 201.6 204.7 [1]
Other non-current assets [1] 351.2 345.2
Total assets 7,539.3 7,390.0 [1]
Current liabilities:    
Short-term borrowings 353.1 241.9 [1]
Current portion of long-term debt 61.6 46.6 [1]
Accounts payable 719.7 675.3 [1]
Accrued restructuring costs 61.2 53.6 [1]
Other current liabilities 704.3 789.7 [1]
Total current liabilities 1,899.9 1,807.1 [1]
Long-term debt, less current portion [1] 4,280.0 4,266.8
Non-current deferred taxes 63.6 75.0 [1]
Other non-current liabilities 734.7 714.0 [1]
Total liabilities $ 6,978.2 $ 6,862.9 [1]
Commitments and contingencies - Note 15 [1]
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2016 and 2015 [1]
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 227,151,277 in 2016 and 225,625,636 in 2015; shares outstanding: 197,157,078 in 2016 and 196,013,299 in 2015 $ 22.7 $ 22.6 [1]
Additional paid-in capital 1,936.6 1,915.0 [1]
Retained earnings 740.8 675.2 [1]
Common stock in treasury, 29,994,199 shares in 2016 and 29,612,337 shares in 2015 (1,284.7) (1,265.7) [1]
Accumulated other comprehensive loss, net of taxes (854.3) [2] (820.0) [1]
Total stockholders’ equity 561.1 527.1 [1]
Total liabilities and stockholders’ equity $ 7,539.3 $ 7,390.0 [1]
[1] As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs. Refer to Note 2, “Recently Issued Accounting Standards” of the notes to the condensed consolidated financial statements for further details.
[2] The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(19.4) million as of March 31, 2016 and $68.7 million as of March 31, 2015.