v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 350.4 $ 506.5
Accounts receivable, net of allowance for doubtful accounts of $16.3 as of June 30, 2026 and $8.4 as of December 31, 2025 487.6 358.7
Inventories, net:    
Finished goods 83.0 58.6
Work in process 155.8 106.6
Raw materials 268.4 211.3
Inventories, net 507.2 376.5
Other current assets 134.0 106.4
Total current assets 1,479.2 2,571.4
Property, plant and equipment:    
Cost 860.5 746.0
Less: accumulated depreciation 483.9 467.2
Property, plant and equipment, net 376.6 278.8
Long-term deferred tax assets 12.8 3.5
Other assets 169.6 166.3
Intangible assets, net 652.4 149.5
Goodwill 1,340.2 683.9
Total assets 4,030.8 3,853.4
Current liabilities:    
Accounts payable 185.7 189.6
Accrued liabilities 324.8 269.3
U.S. and foreign taxes on income 5.7 6.3
Total current liabilities 527.5 465.2
Long-term debt, net 1,087.1 1,148.2
Accrued pension, postretirement benefits and post-employment benefits 42.4 43.0
Long-term deferred tax liability 105.8 45.9
Other liabilities 88.1 87.7
Total liabilities 1,850.9 1,790.0
Commitments and contingencies (Note 12)
Equity:    
Common shares, par value $1.00; 66,475,307 shares authorized; $57,798,435 and $57,607,816 shares issued and outstanding, respectively 57.8 57.6
Capital surplus 458.0 452.0
Retained earnings 1,665.1 1,531.5
Accumulated other comprehensive (loss) income (3.3) 20.0
Total shareholders’ equity 2,177.6 2,061.1
Noncontrolling interests 2.3 2.3
Total equity 2,179.9 2,063.4
Total liabilities and equity 4,030.8 3,853.4
Restricted Cash, Current 0.0 1,223.3
Short-term borrowings $ 11.3 $ 0.0