Balance Sheet
| Year Ending Dec 2025 (Update) | Year Ending Dec 2024 (Update) | Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | |
|---|---|---|---|---|
| Cash & Equivalents | 201.70 | 329.10 | 215.00 | 167.20 |
| Short Term Investments | 48.00 | 0.00 | 0.00 | 0.00 |
| Cash and Short Term Investments | 249.70 | 329.10 | 215.00 | 167.20 |
| Accounts Receivable - Trade, Gross | 1,532.00 | 1,495.20 | 1,449.30 | 1,408.80 |
| Provision for Doubtful Accounts | -28.10 | -29.00 | -34.40 | -34.40 |
| Accounts Receivable - Trade, Net | 1,503.90 | 1,466.20 | 1,414.90 | 1,374.40 |
| Receivables - Other | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Receivables, Net | 1,503.90 | 1,466.20 | 1,414.90 | 1,374.40 |
| Inventories - Finished Goods | 345.70 | 318.20 | 267.10 | 297.20 |
| Inventories - Work In Progress | 242.50 | 224.90 | 238.20 | 255.10 |
| Inventories - Raw Materials | 387.60 | 435.00 | 415.40 | 457.60 |
| Total Inventory | 975.80 | 978.10 | 920.70 | 1,009.90 |
| Discontinued Operations - Current Asset | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 260.90 | 305.30 | 245.40 | 230.50 |
| Other Current Assets, Total | 260.90 | 305.30 | 245.40 | 230.50 |
| Total Current Assets | 2,990.30 | 3,078.70 | 2,796.00 | 2,782.00 |
| Buildings - Gross | 903.50 | 852.30 | 817.90 | 781.00 |
| Land/Improvements - Gross | 37.40 | 35.10 | 35.90 | 29.30 |
| Machinery/Equipment - Gross | 3,192.60 | 2,903.40 | 2,799.50 | 2,667.80 |
| Construction in Progress - Gross | 138.40 | 202.70 | 317.10 | 269.60 |
| Other Property/Plant/Equipment - Gross | 215.80 | 227.50 | 200.20 | 161.70 |
| Property/Plant/Equipment, Total - Gross | 4,487.70 | 4,221.00 | 4,170.60 | 3,909.40 |
| Accumulated Depreciation, Total | -2,664.20 | -2,406.80 | -2,344.60 | -2,207.50 |
| Property/Plant/Equipment, Total - Net | 1,823.50 | 1,814.20 | 1,826.00 | 1,701.90 |
| Goodwill, Net | 2,272.50 | 1,976.20 | 2,013.60 | 1,862.40 |
| Intangibles - Gross | 1,937.70 | 1,726.00 | 1,739.10 | 1,677.00 |
| Accumulated Intangible Amortization | -992.60 | -860.00 | -785.50 | -728.40 |
| Intangibles, Net | 945.10 | 866.00 | 953.60 | 948.60 |
| LT Investment - Affiliate Companies | 58.00 | 45.00 | 71.00 | 70.00 |
| LT Investments - Other | 1.10 | 0.00 | 0.00 | 0.00 |
| Long Term Investments | 59.10 | 45.00 | 71.00 | 70.00 |
| Deferred Income Tax - Long Term Asset | 125.30 | 110.00 | 115.70 | 115.10 |
| Other Long Term Assets | 585.90 | 514.10 | 433.90 | 470.50 |
| Other Long Term Assets, Total | 711.20 | 624.10 | 549.60 | 585.60 |
| Total Assets | 8,801.70 | 8,404.20 | 8,209.80 | 7,950.50 |
| Accounts Payable | 1,261.70 | 1,340.70 | 1,277.10 | 1,339.30 |
| Accrued Expenses | 455.60 | 496.40 | 401.20 | 444.70 |
| Notes Payable/Short Term Debt | 0.00 | 0.00 | 1.00 | 2.40 |
| Current Portion of Long Term Debt/Capital Leases | 522.90 | 592.30 | 621.20 | 596.20 |
| Customer Advances | 16.20 | 15.50 | 18.10 | 22.20 |
| Income Taxes Payable | 86.10 | 74.70 | 57.60 | 76.20 |
| Other Current Liabilities | 311.10 | 343.00 | 323.30 | 318.80 |
| Other Current liabilities, Total | 413.40 | 433.20 | 399.00 | 417.20 |
| Total Current Liabilities | 2,653.60 | 2,862.60 | 2,699.50 | 2,799.80 |
| Long Term Debt | 3,199.00 | 2,550.80 | 2,615.10 | 2,495.30 |
| Capital Lease Obligations | 11.00 | 9.10 | 7.00 | 8.20 |
| Total Long Term Debt | 3,210.00 | 2,559.90 | 2,622.10 | 2,503.50 |
| Total Debt | 3,732.90 | 3,152.20 | 3,244.30 | 3,102.10 |
| Deferred Income Tax - Long Term Liability | 264.00 | 234.80 | 260.00 | 247.90 |
| Deferred Income Tax | 264.00 | 234.80 | 260.00 | 247.90 |
| Pension Benefits - Underfunded | 262.80 | 257.30 | 346.70 | 251.40 |
| Other Long Term Liabilities | 169.20 | 177.30 | 153.60 | 115.70 |
| Other Liabilities, Total | 432.00 | 434.60 | 500.30 | 367.10 |
| Total Liabilities | 6,559.60 | 6,091.90 | 6,081.90 | 5,918.30 |
| Common Stock | 124.10 | 124.10 | 124.10 | 124.10 |
| Common Stock, Total | 124.10 | 124.10 | 124.10 | 124.10 |
| Additional Paid-In Capital | 834.30 | 840.60 | 854.50 | 879.30 |
| Retained Earnings (Accumulated Deficit) | 5,597.50 | 5,151.20 | 4,691.80 | 4,414.60 |
| Treasury Stock - Common | -3,904.10 | -3,347.50 | -3,134.40 | -3,021.80 |
| Cumulative Translation Adjustment | -359.00 | -375.50 | -328.60 | -314.00 |
| Minimum Pension Liability Adjustment | -49.20 | -78.00 | -77.50 | -51.30 |
| Other Comprehensive Income | -1.50 | -2.60 | -2.00 | 1.30 |
| Other Equity, Total | -409.70 | -456.10 | -408.10 | -364.00 |
| Total Equity | 2,242.10 | 2,312.30 | 2,127.90 | 2,032.20 |
| Total Liabilities & Shareholders' Equity | 8,801.70 | 8,404.20 | 8,209.80 | 7,950.50 |
| Shares Outstanding – Common Stock Primary Issue | 76.88 | 79.80 | 80.50 | 80.81 |
| Total Common Shares Outstanding | 76.88 | 79.80 | 80.50 | 80.81 |
| Treasury Shares – Common Primary Issue | 47.25 | 44.33 | 43.63 | 43.32 |
| Employees | 35,000.00 | 35,000.00 | 35,000.00 | 36,000.00 |
| Number of Common Shareholders | 3,130.00 | 3,391.00 | 3,600.00 | 3,799.00 |
| Accumulated Intangible Amortization | 992.60 | 860.00 | 785.50 | 728.40 |
| Deferred Revenue - Current | 16.20 | 15.50 | 18.10 | 22.20 |
| Deferred Revenue - Long Term | 1.60 | 1.20 | 1.30 | 2.10 |
| Total Current Assets less Inventory | 2,014.50 | 2,100.60 | 1,875.30 | 1,772.10 |
| Quick Ratio | 0.76 | 0.73 | 0.69 | 0.63 |
| Current Ratio | 1.13 | 1.08 | 1.04 | 0.99 |
| Net Debt | 3,483.20 | 2,823.10 | 3,029.30 | 2,934.90 |
| Tangible Book Value | -975.50 | -529.90 | -839.30 | -778.80 |
| Tangible Book Value per Share | -12.69 | -6.64 | -10.43 | -9.64 |
| Total Long Term Debt, Supplemental | 3,223.80 | 3,122.40 | 2,933.40 | 2,762.60 |
| Long Term Debt Maturing within 1 Year | 0.00 | 551.20 | 300.00 | 250.00 |
| Long Term Debt Maturing in Year 2 | 0.00 | 0.00 | 583.40 | 300.00 |
| Long Term Debt Maturing in Year 3 | 500.00 | 0.00 | 166.67 | 562.60 |
| Long Term Debt Maturing in Year 4 | 0.00 | 500.00 | 166.67 | 0.00 |
| Long Term Debt Maturing in Year 5 | 500.00 | 0.00 | 166.67 | 0.00 |
| Long Term Debt Maturing in 2-3 Years | 500.00 | 0.00 | 750.07 | 862.60 |
| Long Term Debt Maturing in 4-5 Years | 500.00 | 500.00 | 333.33 | 0.00 |
| Long Term Debt Maturing in Year 6 & Beyond | 2,223.80 | 2,071.20 | 1,550.00 | 1,650.00 |
| Interest Costs | -1.70 | -1.60 | -1.50 | -0.60 |
| Total Capital Leases | 16.20 | 13.30 | 13.30 | 13.60 |
| Capital Lease Payments Due in Year 1 | 6.00 | 5.30 | 6.90 | 5.80 |
| Capital Lease Payments Due in Year 2 | 5.00 | 3.60 | 3.50 | 5.40 |
| Capital Lease Payments Due in Year 3 | 3.30 | 2.80 | 1.90 | 2.10 |
| Capital Lease Payments Due in Year 4 | 2.30 | 1.80 | 1.30 | 0.70 |
| Capital Lease Payments Due in Year 5 | 1.00 | 0.90 | 0.60 | 0.20 |
| Capital Lease Payments Due in 2-3 Years | 8.30 | 6.40 | 5.40 | 7.50 |
| Capital Lease Payments Due in 4-5 Years | 3.30 | 2.70 | 1.90 | 0.90 |
| Capital Lease Payments Due in Year 6 & Beyond | 0.30 | 0.50 | 0.60 | 0.00 |
| Total Operating Leases | 220.70 | 225.70 | 197.70 | 156.00 |
| Operating Lease Payments Due in Year 1 | 59.70 | 55.60 | 50.30 | 45.80 |
| Operating Lease Payments Due in Year 2 | 46.90 | 47.80 | 41.00 | 35.40 |
| Operating Lease Payments Due in Year 3 | 33.60 | 37.00 | 32.40 | 27.80 |
| Operating Lease Payments Due in Year 4 | 28.10 | 26.30 | 23.00 | 18.80 |
| Operating Lease Payments Due in Year 5 | 22.20 | 21.80 | 15.10 | 10.80 |
| Operating Lease Payments Due in 2-3 Years | 80.50 | 84.80 | 73.40 | 63.20 |
| Operating Lease Payments Due in 4-5 Years | 50.30 | 48.10 | 38.10 | 29.60 |
| Standardized Operating Lease Payments Due in Year 6 and Beyond | 30.20 | 37.20 | 35.90 | 17.40 |
| Pension Obligation - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Pension Obligation - Foreign | 680.20 | 664.40 | 679.90 | 586.90 |
| Post-Retirement Obligation | 0.00 | 0.00 | 0.00 | 0.00 |
| Plan Assets - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Plan Assets - Foreign | 732.50 | 659.50 | 663.20 | 585.30 |
| Funded Status - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Funded Status - Foreign | 52.30 | -4.90 | -16.70 | -1.60 |
| Funded Status - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Accumulated Obligation - Domestic | 0.00 | 44.60 | 49.30 | 51.80 |
| Accumulated Obligation - Foreign | 0.00 | 49.30 | 51.80 | 66.80 |
| Unfunded Plan Obligations | 0.00 | 46.60 | 51.30 | 53.80 |
| Total Funded Status | 52.30 | -51.50 | -68.00 | -55.40 |
| Discount Rate - Domestic | 0.00 | 5.43 | 4.86 | 5.06 |
| Discount Rate - Foreign | 4.57 | 3.95 | 3.78 | 4.36 |
| Discount Rate - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Compensation Rate - Foreign | 2.68 | 2.80 | 2.73 | 2.75 |
| Prepaid Benefits - Foreign | 138.70 | 84.70 | 67.80 | 70.00 |
| Accrued Liabilities - Domestic | 0.00 | -44.60 | -49.30 | -51.80 |
| Accrued Liabilities - Foreign | -86.40 | -89.60 | -84.50 | -71.60 |
| Accrued Liabilities - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Assets Recognized on Balance Sheet | 52.30 | -49.50 | -66.00 | -53.40 |
| Equity % - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity % - Foreign | 27.11 | 26.41 | 25.54 | 25.95 |
| Debt Securities % - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt Securities % - Foreign | 56.30 | 57.77 | 58.78 | 57.36 |
| Real Estate % - Foreign | 0.57 | 0.80 | 0.97 | 1.42 |
| Private Investments % - Foreign | 7.18 | 5.91 | 6.42 | 6.34 |
| Other Investments % - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Investments % - Foreign | 8.83 | 9.10 | 8.29 | 8.94 |
| Total Plan Obligations | 680.20 | 711.00 | 731.20 | 640.70 |
| Total Plan Assets | 732.50 | 659.50 | 663.20 | 585.30 |
Source: LSEG
In millions of USD (except for per share items)