Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 69.5	$ 64.4
Receivables, less allowances for doubtful accounts of $27.6 million at December 31, 2018, and $28.9 million at December 31, 2017	528.7	552.5
Inventories	300.6	246.5
Prepaid expenses and other current assets	47.8	45.1
Total current assets	946.6	908.5
Property, plant and equipment—net	1,257.4	1,377.6
Goodwill	54.6	0.0
Other intangible assets—net	112.6	43.4
Equity method investment in unconsolidated entity	4.0	3.6
Other long-term assets	93.9	119.3
Total assets	2,469.1	2,452.4
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	511.0	381.6
Accrued liabilities	292.3	316.7
Short-term debt and current portion of long-term debt	42.9	42.0
Current portion of capital lease obligations	5.1	5.6
Total current liabilities	851.3	745.9
Long-term debt	882.6	903.5
Capital lease obligations	10.3	13.7
Deferred income taxes	32.1	41.9
Other long-term liabilities	232.6	225.0
Total liabilities	2,008.9	1,930.0
Commitments and contingencies (Note 10)
Shareholders’ equity (Note 18)
Additional paid-in capital	861.3	861.1
Treasury stock, at cost, 2.7 million shares at December 31, 2018, and 2.3 million shares at December 31, 2017	(56.6)	(52.8)
Accumulated deficit	(211.4)	(162.9)
Accumulated other comprehensive loss	(152.2)	(124.4)
Quad’s shareholders’ equity	442.5	522.4
Noncontrolling interests	17.7	0.0
Total shareholders’ equity and noncontrolling interests	460.2	522.4
Total liabilities and shareholders’ equity	2,469.1	2,452.4
Preferred Stock
Shareholders’ equity (Note 18)
Preferred stock, $0.01 par value; Authorized: 0.5 million shares; Issued: None	0.0	0.0
Common Class A
Shareholders’ equity (Note 18)
Common stock, Class C, $0.025 par value; Authorized: 20.0 million shares; Issued: 0.5 million shares at December 31, 2018 and 2017	1.0	1.0
Common Class B
Shareholders’ equity (Note 18)
Common stock, Class C, $0.025 par value; Authorized: 20.0 million shares; Issued: 0.5 million shares at December 31, 2018 and 2017	0.4	0.4
Common Class C
Shareholders’ equity (Note 18)
Common stock, Class C, $0.025 par value; Authorized: 20.0 million shares; Issued: 0.5 million shares at December 31, 2018 and 2017	$ 0.0	$ 0.0

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).