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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 282.5 $ 371.8
Trade receivables, net of allowance for credit losses of $12.5 in 2025 and $12.6 in 2024 490.6 443.1
Income tax receivables 69.0 25.0
Other receivables 101.1 135.9
Inventories, net of inventory reserves of $51.0 in 2025 and $45.4 in 2024 (Note 6) 825.1 722.2
Prepaid expenses and other current assets 214.6 193.8
Total current assets 1,982.9 1,891.8
Property and equipment, net (Note 7) 1,431.1 1,397.9
Goodwill (Note 8) 2,899.8 2,878.5
Identifiable intangible assets, net (Note 8) 344.1 381.6
Deferred taxes 55.1 112.0
Operating lease right-of-use-assets (Note 4) 86.4 98.0
Other non-current assets 284.8 262.3
Total assets 7,084.2 7,022.1
Current liabilities:    
Short-term borrowings (Note 13) 154.2 140.5
Current portion of long-term debt (Note 13) 47.6 64.6
Current portion of operating lease liabilities (Note 4) 31.1 29.7
Accounts payable 779.0 771.0
Accrued restructuring costs (Note 12) 34.0 42.6
Income tax payable 11.4 53.3
Other current liabilities 481.9 533.8
Total current liabilities 1,539.2 1,635.5
Long-term debt, less current portion (Note 13) 3,971.8 4,198.8
Long-term operating lease liabilities, less current portion (Note 4) 63.7 74.8
Deferred taxes 27.8 26.1
Other non-current liabilities 291.4 462.4
Total liabilities 5,893.9 6,397.6
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2025 and 2024 0.0 0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 155,175,199 in 2025 and 154,610,375 in 2024; shares outstanding: 147,120,890 in 2025 and 145,731,673 in 2024 15.5 15.5
Additional paid-in capital 1,456.0 1,445.7
Retained earnings 1,015.7 643.4
Common stock in treasury, 8,054,309 shares in 2025 and 8,878,702 shares in 2024 (366.6) (404.2)
Accumulated other comprehensive loss, net of taxes (Note 20) (930.3) (1,075.9)
Total stockholders’ equity 1,190.3 624.5
Total liabilities and stockholders’ equity $ 7,084.2 $ 7,022.1