Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets    
Cash and cash equivalents, at cost, which approximates market $ 356.5 $ 284.3
Short-term investments in marketable securities 12.7 92.3
Total cash, cash equivalents and short-term investments in marketable securities 369.2 376.6
Restricted cash 6.5 13.0
Accounts and notes receivable, less allowances of $22.0 and $27.1 364.6 349.2
Inventories    
Finished goods 379.9 363.3
Work-in-process 146.1 142.4
Raw materials 73.3 70.1
Net inventories 599.3 575.8
Deferred income taxes 137.6 18.8
Prepaid expenses and other 31.4 26.7
Current assets held for sale 0 0
Current assets 1,508.6 1,360.1
Property    
Land 79.3 80.6
Buildings and improvements 538.6 564.3
Equipment 1,013.9 997.4
Total land, buildings and improvements and equipment 1,631.8 1,642.3
Accumulated depreciation (1,094.7) (1,131.4)
Net land, buildings and improvements and equipment 537.1 510.9
Unamortized product tooling costs 80.7 70.5
Net property 617.8 581.4
Other assets    
Goodwill 291.7 291.7
Other intangibles, net 35.4 38.1
Long-term investments in marketable securities 0 52.1
Equity investments 41.3 42.4
Non-current deferred tax asset 377.0 (92.7)
Other long-term assets 44.0 58.4
Long-term assets held for sale 0 0
Other assets 789.4 482.7
Total assets 2,915.8 2,424.2
Current liabilities    
Short-term debt, including $6.4 and $6.5 of current maturities of long-term debt 6.4 8.2
Accounts payable 315.6 334.4
Accrued expenses 561.1 576.2
Current liabilities held for sale 0 18.4
Current liabilities 883.1 937.2
Long-term liabilities    
Debt 453.4 563.6
Deferred income taxes   92.7
Postretirement benefits 347.3 552.6
Other 193.6 197.5
Long-term liabilities held for sale 0 2.9
Long-term liabilities 994.3 1,409.3
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 393.0 440.8
Retained earnings 1,263.3 503.2
Treasury stock, at cost: 10,129,000 and 12,907,000 shares (293.3) (388.1)
Accumulated other comprehensive income (loss), net of tax:    
Foreign currency translation 11.0 18.4
Prior service (costs) credits (2.6) 4.4
Net actuarial losses (398.6) (567.2)
Unrealized investment losses 0 0
Unrealized losses on derivatives (11.3) (10.7)
Total accumulated other comprehensive loss (401.5) (555.1)
Shareholders' equity 1,038.4 77.7
Total liabilities and shareholders' equity $ 2,915.8 $ 2,424.2