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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 386.0 $ 346.1
Trade receivables, net of allowance for credit losses of $14.2 in 2024 and $14.9 in 2023 478.7 442.6
Income tax receivables 19.7 44.9
Other receivables 95.6 94.2
Advances and deposits 67.4 72.8
Inventories, net of inventory reserves of $53.6 in 2024 and $43.3 in 2023 (Note 7) 807.3 774.3
Prepaid expenses and other current assets 204.8 188.4
Total current assets 2,059.5 1,963.3
Property and equipment, net (Note 8) 1,438.0 1,416.4
Goodwill (Note 9) 2,896.8 2,892.5
Identifiable intangible assets, net (Note 9) 397.6 439.0
Deferred taxes 151.8 130.8
Operating lease right-of-use-assets (Note 4) 97.5 86.5
Other non-current assets 279.9 272.1
Total assets 7,321.1 7,200.6
Current liabilities:    
Short-term borrowings (Note 13) 139.7 140.7
Current portion of long-term debt (Note 13) 58.1 35.7
Current portion of operating lease liabilities (Note 4) 29.1 29.2
Accounts payable 800.9 764.6
Accrued restructuring costs (Note 12) 17.9 23.1
Income tax payable 47.5 28.7
Other current liabilities 499.7 487.0
Total current liabilities 1,592.9 1,509.0
Long-term debt, less current portion (Note 13) 4,334.0 4,513.9
Long-term operating lease liabilities, less current portion (Note 4) 75.0 66.7
Deferred taxes 36.0 35.8
Other non-current liabilities 512.0 525.7
Total liabilities 6,549.9 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: 154,566,194 in 2024 and 154,054,011 in 2023; shares outstanding: 145,687,492 in 2024 and 144,467,719 in 2023 15.5 15.4
Additional paid-in capital 1,438.3 1,429.5
Retained earnings 680.1 496.5
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) (958.5) (955.5)
Total stockholders’ equity 771.2 549.5
Total liabilities and stockholders’ equity $ 7,321.1 $ 7,200.6