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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 388.6 $ 346.1
Trade receivables, net of allowance for credit losses of $14.8 in 2024 and $14.9 in 2023 471.5 442.6
Income tax receivables 20.5 44.9
Other receivables 96.7 94.2
Advances and deposits 70.2 72.8
Inventories, net of inventory reserves of $51.1 in 2024 and $43.3 in 2023 (Note 7) 806.1 774.3
Prepaid expenses and other current assets 197.3 188.4
Total current assets 2,050.9 1,963.3
Property and equipment, net (Note 8) 1,416.7 1,416.4
Goodwill (Note 9) 2,884.1 2,892.5
Identifiable intangible assets, net (Note 9) 409.9 439.0
Deferred taxes 135.3 130.8
Operating lease right-of-use-assets (Note 4) 97.2 86.5
Other non-current assets 274.3 272.1
Total assets 7,268.4 7,200.6
Current liabilities:    
Short-term borrowings (Note 13) 134.7 140.7
Current portion of long-term debt (Note 13) 50.6 35.7
Current portion of operating lease liabilities (Note 4) 28.1 29.2
Accounts payable 836.6 764.6
Accrued restructuring costs (Note 12) 18.9 23.1
Income tax payable 30.5 28.7
Other current liabilities 474.7 487.0
Total current liabilities 1,574.1 1,509.0
Long-term debt, less current portion (Note 13) 4,429.6 4,513.9
Long-term operating lease liabilities, less current portion (Note 4) 77.3 66.7
Deferred taxes 34.8 35.8
Other non-current liabilities 502.5 525.7
Total liabilities 6,618.3 6,651.1
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2024 and 2023 0.0 0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 154,518,689 in 2024 and 154,054,011 in 2023; shares outstanding: 145,639,987 in 2024 and 144,467,719 in 2023 15.5 15.4
Additional paid-in capital 1,431.4 1,429.5
Retained earnings 617.8 496.5
Common stock in treasury, 8,878,702 shares in 2024 and 9,586,292 shares in 2023 (404.2) (436.4)
Accumulated other comprehensive loss, net of taxes (Note 20) (1,010.4) (955.5)
Total stockholders’ equity 650.1 549.5
Total liabilities and stockholders’ equity $ 7,268.4 $ 7,200.6