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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 36.6 $ 27.8
Accounts receivable less allowances for discounts and doubtful accounts of $25.5 and $16.4, respectively 356.0 453.7
Inventories 305.1 283.3
Other current assets 30.5 41.2
Total current assets 728.2 806.0
Total property, plant and equipment 657.8 651.7
Less: accumulated depreciation (416.4) (384.6)
Property, plant and equipment, net [1] 241.4 267.1
Right of use asset, leases 89.2 101.9
Deferred income taxes 136.5 119.0
Goodwill 827.4 718.6
Identifiable intangibles, net of accumulated amortization of $307.4 and $271.9, respectively 977.0 758.6
Other non-current assets 49.0 17.4
Total assets 3,048.7 2,788.6
Current liabilities:    
Notes payable 5.7 3.7
Current portion of long-term debt 70.8 29.5
Accounts payable 180.2 245.7
Accrued compensation 41.0 48.5
Accrued customer program liabilities 91.4 99.7
Operating Lease, Liability, Current 22.6 21.8
Other current liabilities 145.2 139.9
Total current liabilities 556.9 588.8
Long-term debt, net of debt issuance costs of $5.5 and $5.6, respectively 1,054.6 777.2
Long-term lease liabilities 76.5 89.8
Deferred income taxes 170.6 177.5
Pension and post-retirement benefit obligations 317.1 283.2
Other non-current liabilities 130.3 98.4
Total liabilities 2,306.0 2,014.9
Stockholders' equity:    
Preferred stock, $0.01 par value, 25,000,000 shares authorized; none issued and outstanding 0.0 0.0
Common stock, $0.01 par value, 200,000,000 shares authorized; 99,129,455 and 100,412,933 shares issued and 94,942,565 and 96,445,488 outstanding, respectively 1.0 1.0
Treasury stock, 4,186,890 and 3,967,445 shares, respectively (39.9) (38.2)
Paid-in capital 1,883.1 1,890.8
Accumulated other comprehensive loss (564.2) (505.7)
Accumulated deficit (537.3) (574.2)
Total stockholders' equity 742.7 773.7
Total liabilities and stockholders' equity $ 3,048.7 $ 2,788.6
[1] Net property, plant and equipment as of December 31, 2020 and 2019 contained $65.8 million and $68.5 million of computer software assets, respectively, which are classified within machinery and equipment and construction in progress. Depreciation expense for software was $11.4 million, $8.9 million and $8.2 million for the years ended December 31, 2020, 2019 and 2018, respectively.