Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jul. 01, 2023
Dec. 31, 2022
Jul. 02, 2022
Current Assets      
Cash and Cash Equivalents, at Cost, Which Approximates Fair Value $ 477.5 $ 595.6 $ 566.7
Restricted cash 11.0 12.9 11.9
Short-Term Investments in Marketable Securities 0.8 4.5 37.0
Total Cash and Short-Term Investments in Marketable Securities 489.3 613.0 615.6
Accounts and Notes Receivable, less Allowances of $12.0, $8.5 and $8.1 614.5 543.0 611.0
Inventories      
Finished Goods 839.8 836.1 746.0
Work-In-Process 208.9 209.1 201.4
Raw Materials 435.5 426.2 425.0
Net Inventories 1,484.2 1,471.4 1,372.4
Prepaid Expenses and Other 84.8 67.8 86.4
Current Assets 2,672.8 2,695.2 2,685.4
Property      
Land 42.8 42.4 37.1
Buildings and Improvements 596.4 564.4 520.0
Equipment 1,527.3 1,488.1 1,420.8
Total Land, Buildings and Improvements and Equipment 2,166.5 2,094.9 1,977.9
Accumulated Depreciation (1,094.6) (1,051.4) (1,016.1)
Net Land, Buildings and Improvements and Equipment 1,071.9 1,043.5 961.8
Unamortized Product Tooling Costs 242.2 227.3 202.6
Net Property 1,314.1 1,270.8 1,164.4
Other Assets      
Goodwill 974.6 967.6 966.7
Other Intangibles, Net 979.4 997.4 1,038.2
Operating Lease Assets 121.1 114.8 103.0
Deferred Income Tax Asset 149.8 203.3 128.6
Equity Investments 60.0 54.0 48.0
Other Long-Term Assets 18.3 18.2 32.2
Other Assets 2,303.2 2,355.3 2,316.7
Total Assets 6,290.1 6,321.3 6,166.5
Current Liabilities      
Short-Term Debt and Current Maturities of Long-Term Debt 88.3 89.0 3.0
Accounts Payable 549.4 662.6 644.0
Accrued Expenses 756.3 738.3 700.7
Current Liabilities 1,394.0 1,489.9 1,347.7
Long-Term Liabilities      
Debt 2,422.0 2,420.0 2,499.0
Operating Lease Liabilities 105.4 97.8 86.1
Postretirement Benefits 47.2 49.5 64.0
Other 207.5 161.1 162.4
Long-Term Liabilities 2,794.7 2,789.1 2,814.2
Shareholders' equity      
Common Stock; Authorized: 200,000,000 Shares, $0.75 Par Value; Issued: 102,538,000 Shares; Outstanding: 79,114,000, 79,569,000 and 87,063,000 Shares 76.9 76.9 76.9
Additional Paid-In Capital 383.8 391.3 380.8
Retained Earnings 3,478.7 3,288.5 3,036.2
Treasury Stock, at Cost: 23,424,000, 22,969,000 and 15,475,000 Shares (1,809.2) (1,684.9) (1,455.4)
Accumulated Other Comprehensive Loss (28.8) (29.5) (33.9)
Shareholders' Equity 2,101.4 2,042.3 2,004.6
Total Liabilities and Shareholders' Equity $ 6,290.1 $ 6,321.3 $ 6,166.5
Common Stock, Shares Authorized (in Shares) 200,000,000 200,000,000 200,000,000
Common Stock, Par Value (in Dollars per Share) $ 0.75 $ 0.75 $ 0.75
Common Stock, Shares Issued (in Shares) 102,538,000 102,538,000 102,538,000
Accounts and Notes Receivable, Allowances $ 10.5 $ 10.2 $ 9.3
Common Stock, Shares Outstanding (in Shares) 70,005,000 71,365,000 74,472,000
Treasury Stock, Shares (in Shares) 32,533,000 31,173,000 28,066,000
Deferred Income Taxes and Other Tax Liabilities, Noncurrent $ 12.6 $ 60.7 $ 2.7