v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 355.4 $ 506.5
Accounts receivable, net of allowance for doubtful accounts of $13.0 as of March 31, 2026 and $8.4 as of December 31, 2025 493.8 358.7
Inventories, net:    
Finished goods 86.0 58.6
Work in process 157.6 106.6
Raw materials 263.5 211.3
Inventories, net 507.1 376.5
Other current assets 125.4 106.4
Total current assets 1,481.7 2,571.4
Property, plant and equipment:    
Cost 841.7 746.0
Less: accumulated depreciation 474.0 467.2
Property, plant and equipment, net 367.7 278.8
Long-term deferred tax assets 15.1 3.5
Other assets 173.5 166.3
Intangible assets, net 667.3 149.5
Goodwill 1,346.4 683.9
Total assets 4,051.7 3,853.4
Current liabilities:    
Accounts payable 211.2 189.6
Accrued liabilities 288.0 269.3
U.S. and foreign taxes on income 15.4 6.3
Total current liabilities 520.2 465.2
Long-term debt, net 1,192.6 1,148.2
Accrued pension, postretirement benefits and post-employment benefits 41.7 43.0
Long-term deferred tax liability 106.0 45.9
Other liabilities 92.0 87.7
Total liabilities 1,952.5 1,790.0
Commitments and contingencies (Note 12)
Equity:    
Common shares, par value $1.00; 66,475,307 shares authorized; $57,743,867 and $57,607,816 shares issued and outstanding, respectively 57.7 57.6
Capital surplus 451.5 452.0
Retained earnings 1,583.9 1,531.5
Accumulated other comprehensive loss 3.8 20.0
Total shareholders’ equity 2,096.9 2,061.1
Noncontrolling interests 2.3 2.3
Total equity 2,099.2 2,063.4
Total liabilities and equity 4,051.7 3,853.4
Restricted Cash, Current 0.0 1,223.3
Short-term borrowings $ 5.6 $ 0.0