Consolidated Balance Sheets

At December 31 (In thousands, except share data) 2013 2012

Assets

Current assets
Cash and cash equivalents $175,294 $112,023
Receivables, net 603,592 578,313
Inventories, net 452,087 397,471
Deferred tax assets, net 47,650 50,760
Other current assets 58,660 37,194
Total current assets $1,337,283 $1,175,761
Property, plant, and equipment, net $515,718 $489,593
Goodwill 1,110,429 1,013,300
Other intangible assets, net 471,379 419,021
Other assets 23,465 16,913
Total assets $3,458,274 $3,114,588

Liabilities

Current liabilities
Current portion of long-term and short-term debt $1,334 $128,225
Accounts payable 186,941 157,825
Accrued expenses 142,935 131,067
Income taxes payable 789 7,793
Deferred revenue 164,343 171,624
Other current liabilities 38,251 43,214
Total current liabilities $534,593 $639,748
Long-term debt $958,604 $751,990
Deferred tax liabilities, net 123,644 50,450
Accrued pension and other post-retirement benefit costs 138,904 264,047
Long-term portion of environmental reserves 15,498 14,905
Other liabilities 134,326 80,856
Total liabilities $1,905,569 $1,801,996

Contingencies and Commitments

Stockholders’ equity
Common stock, $1 par value, 100,000,000 shares authorized at December 31, 2013 and 2012; 49,189,702 shares issued at December 31, 2013 and 2012; outstanding shares were
47,638,835 at December 31,2013 and 46,449,934 at December 31, 2012.
$49,190 $49,190
Additional paid in capital 150,618 151,883
Retained earnings 1,380,981 1,261,377
Accumulated other comprehensive income (loss) 25,259 (55,508)
Less: Common treasury stock, at cost (1,550,867 shares at December 31, 2013 and
2,739,768 shares at December 31, 2012)
(53,343) (94,350)
Total stockholders’ equity $1,552,705 $1,312,592
Total liabilities and stockholders’ equity $3,458,274 $3,114,588

 

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