Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current assets    
Cash and cash equivalents, at cost, which approximates market $ 338.2 $ 551.4
Short-term investments in marketable securities 76.7 84.7
Total cash, cash equivalents and short-term investments in marketable securities 414.9 636.1
Restricted cash 20.0 0
Accounts and notes receivable, less allowances of $31.0 and $38.0 346.2 327.3
Inventories    
Finished goods 292.0 276.9
Work-in-process 167.2 164.0
Raw materials 73.4 86.6
Net inventories 532.6 527.5
Deferred income taxes 14.8 17.0
Prepaid expenses and other 27.6 27.9
Current assets 1,356.1 1,535.8
Property    
Land 83.6 88.9
Buildings and improvements 606.8 651.3
Equipment 1,055.1 1,079.3
Total land, buildings and improvements and equipment 1,745.5 1,819.5
Accumulated depreciation (1,229.0) (1,250.3)
Net land, buildings and improvements and equipment 516.5 569.2
Unamortized product tooling costs 69.0 61.0
Net property 585.5 630.2
Other assets    
Goodwill 290.3 290.9
Other intangibles, net 49.2 56.7
Long-term investments in marketable securities 92.9 21.0
Equity investments 47.7 53.7
Other long-term assets 72.3 89.7
Other assets 552.4 512.0
Total assets 2,494.0 2,678.0
Current liabilities    
Short-term debt, including $1.5 and $1.7 of current maturities of long-term debt 2.4 2.2
Accounts payable 282.0 288.2
Accrued expenses 623.7 661.2
Current liabilities 908.1 951.6
Long-term liabilities    
Debt 690.4 828.4
Deferred income taxes 81.8 71.6
Postretirement benefits 592.6 548.9
Other 190.2 207.1
Long-term liabilities 1,555.0 1,656.0
Shareholders' equity    
Common stock; authorized: 200,000,000 shares, $0.75 par value; issued: 102,538,000 shares 76.9 76.9
Additional paid-in capital 434.6 424.6
Retained earnings 457.7 390.3
Treasury stock, at cost: 13,434,000 and 13,877,000 shares (397.5) (405.9)
Accumulated other comprehensive income (loss), net of tax:    
Foreign currency translation 12.0 32.4
Defined benefit plans:    
Prior service credits 11.7 11.5
Net actuarial losses (560.1) (459.8)
Unrealized investment gains (losses) (0.1) 0.7
Unrealized losses on derivatives (4.3) (0.3)
Total accumulated other comprehensive loss (540.8) (415.5)
Shareholders' equity 30.9 70.4
Total liabilities and shareholders' equity $ 2,494.0 $ 2,678.0