Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 92.9	$ 78.7
Receivables, less allowance for credit losses of $33.8 million at September 30, 2020, and $25.0 million at December 31, 2019	370.1	456.1
Inventories	218.3	210.5
Prepaid expenses and other current assets	49.0	109.0
Current assets of discontinued operations	20.8	56.6
Total current assets	751.1	910.9
Property, plant and equipment—net	953.6	1,036.5
Operating lease right-of-use assets—net	83.5	97.9
Goodwill	103.0	103.0
Other intangible assets—net	113.3	137.2
Equity method investment in unconsolidated entity	1.7	3.6
Other long-term assets	95.2	127.5
Long-term assets of discontinued operations	0.0	0.5
Total assets	2,101.4	2,417.1
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	320.6	416.7
Other current liabilities	282.7	303.0
Short-term debt and current portion of long-term debt	56.8	40.0
Current portion of finance lease obligations	3.0	7.7
Current portion of operating lease obligations	27.1	30.2
Current liabilities of discontinued operations	5.4	15.8
Liabilities, Current, Total	695.6	813.4
Long-term debt	969.1	1,058.5
Finance lease obligations	2.3	6.0
Operating lease obligations	58.4	70.4
Deferred income taxes	3.7	2.8
Other long-term liabilities	207.2	221.1
Long-term liabilities of discontinued operations	0.6	0.6
Liabilities, Total	1,936.9	2,172.8
Commitments and contingencies (Note 10)
Shareholders’ equity
Preferred stock	0.0	0.0
Additional paid-in capital	830.6	847.4
Treasury stock, at cost	(13.0)	(31.5)
Accumulated deficit	(472.0)	(423.5)
Accumulated other comprehensive loss	(183.2)	(167.2)
Quad’s shareholders’ equity	163.8	226.6
Noncontrolling interests	0.7	17.7
Total shareholders’ equity and noncontrolling interests	164.5	244.3
Total liabilities and shareholders’ equity	2,101.4	2,417.1
Common Class A
Shareholders’ equity
Common stock	1.0	1.0
Common Class B
Shareholders’ equity
Common stock	0.4	0.4
Common Class C
Shareholders’ equity
Common stock	$ 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).