Balance Sheet
In millions of USD (except for per share items)
| Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | Year Ending Dec 2021 (Update) | Year Ending Dec 2020 (Update) | Year Ending Dec 2019 (Update) | |
|---|---|---|---|---|---|
| Cash & Equivalents | 1,019.00 | 944.00 | 1,349.00 | 1,875.00 | 724.00 |
| Short Term Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash and Short Term Investments | 1,019.00 | 944.00 | 1,349.00 | 1,875.00 | 724.00 |
| Accounts Receivable - Trade, Gross | 1,673.00 | 1,146.00 | 997.00 | 969.00 | 1,071.00 |
| Provision for Doubtful Accounts | -56.00 | -50.00 | -44.00 | -46.00 | -35.00 |
| Accounts Receivable - Trade, Net | 1,617.00 | 1,096.00 | 953.00 | 923.00 | 1,036.00 |
| Total Receivables, Net | 1,617.00 | 1,096.00 | 953.00 | 923.00 | 1,036.00 |
| Inventories - Finished Goods | 355.00 | 286.00 | 236.00 | 221.00 | 212.00 |
| Inventories - Work In Progress | 102.00 | 58.00 | 58.00 | 49.00 | 47.00 |
| Inventories - Raw Materials | 561.00 | 455.00 | 406.00 | 288.00 | 280.00 |
| Total Inventory | 1,018.00 | 799.00 | 700.00 | 558.00 | 539.00 |
| Prepaid Expenses | 230.00 | 173.00 | 158.00 | 167.00 | 151.00 |
| Other Current Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Assets, Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Assets | 3,884.00 | 3,012.00 | 3,160.00 | 3,523.00 | 2,450.00 |
| Land/Improvements - Gross | 480.00 | 360.00 | 370.00 | 369.00 | 339.00 |
| Machinery/Equipment - Gross | 1,124.00 | 896.00 | 933.00 | 941.00 | 861.00 |
| Construction in Progress - Gross | 217.00 | 106.00 | 115.00 | 110.00 | 104.00 |
| Other Property/Plant/Equipment - Gross | 1,079.00 | 735.00 | 712.00 | 666.00 | 639.00 |
| Property/Plant/Equipment, Total - Gross | 2,900.00 | 2,097.00 | 2,130.00 | 2,086.00 | 1,943.00 |
| Accumulated Depreciation, Total | -1,298.00 | -1,157.00 | -1,182.00 | -1,157.00 | -1,044.00 |
| Property/Plant/Equipment, Total - Net | 1,602.00 | 940.00 | 948.00 | 929.00 | 899.00 |
| Goodwill, Net | 7,587.00 | 2,719.00 | 2,792.00 | 2,854.00 | 2,839.00 |
| Intangibles - Gross | 3,617.00 | 1,770.00 | 2,007.00 | 1,980.00 | 1,911.00 |
| Accumulated Intangible Amortization | -1,088.00 | -840.00 | -991.00 | -887.00 | -737.00 |
| Intangibles, Net | 2,529.00 | 930.00 | 1,016.00 | 1,093.00 | 1,174.00 |
| Other Long Term Assets | 510.00 | 351.00 | 360.00 | 351.00 | 348.00 |
| Other Long Term Assets, Total | 510.00 | 351.00 | 360.00 | 351.00 | 348.00 |
| Total Assets | 16,112.00 | 7,952.00 | 8,276.00 | 8,750.00 | 7,710.00 |
| Accounts Payable | 968.00 | 723.00 | 639.00 | 569.00 | 597.00 |
| Accrued Expenses | 659.00 | 471.00 | 480.00 | 498.00 | 396.00 |
| Notes Payable/Short Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current Portion of Long Term Debt/Capital Leases | 38.00 | 0.00 | 0.00 | 600.00 | 276.00 |
| Income Taxes Payable | 170.00 | 186.00 | 86.00 | 103.00 | 79.00 |
| Other Current Liabilities | 370.00 | 210.00 | 186.00 | 186.00 | 153.00 |
| Other Current liabilities, Total | 540.00 | 396.00 | 272.00 | 289.00 | 232.00 |
| Total Current Liabilities | 2,205.00 | 1,590.00 | 1,391.00 | 1,956.00 | 1,501.00 |
| Long Term Debt | 2,268.00 | 1,880.00 | 2,440.00 | 2,484.00 | 2,040.00 |
| Capital Lease Obligations | 64.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Long Term Debt | 2,332.00 | 1,880.00 | 2,440.00 | 2,484.00 | 2,040.00 |
| Total Debt | 2,370.00 | 1,880.00 | 2,440.00 | 3,084.00 | 2,316.00 |
| Deferred Income Tax - Long Term Liability | 557.00 | 222.00 | 287.00 | 242.00 | 310.00 |
| Deferred Income Tax | 557.00 | 222.00 | 287.00 | 242.00 | 310.00 |
| Minority Interest | 10.00 | 9.00 | 8.00 | 8.00 | 10.00 |
| Pension Benefits - Underfunded | 344.00 | 286.00 | 438.00 | 519.00 | 445.00 |
| Other Long Term Liabilities | 498.00 | 471.00 | 494.00 | 573.00 | 447.00 |
| Other Liabilities, Total | 842.00 | 757.00 | 932.00 | 1,092.00 | 892.00 |
| Total Liabilities | 5,946.00 | 4,458.00 | 5,058.00 | 5,782.00 | 4,753.00 |
| Common Stock | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Common Stock, Total | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Additional Paid-In Capital | 8,564.00 | 2,134.00 | 2,089.00 | 2,037.00 | 1,991.00 |
| Retained Earnings (Accumulated Deficit) | 2,601.00 | 2,292.00 | 2,154.00 | 1,930.00 | 1,866.00 |
| Treasury Stock - Common | -733.00 | -708.00 | -656.00 | -588.00 | -527.00 |
| Cumulative Translation Adjustment | -196.00 | -180.00 | -101.00 | -86.00 | -103.00 |
| Minimum Pension Liability Adjustment | -72.00 | -41.00 | -268.00 | -330.00 | -269.00 |
| Other Comprehensive Income | -1.00 | -5.00 | -2.00 | 3.00 | -3.00 |
| Other Equity, Total | -269.00 | -226.00 | -371.00 | -413.00 | -375.00 |
| Total Equity | 10,166.00 | 3,494.00 | 3,218.00 | 2,968.00 | 2,957.00 |
| Total Liabilities & Shareholders' Equity | 16,112.00 | 7,952.00 | 8,276.00 | 8,750.00 | 7,710.00 |
| Shares Outstanding – Common Stock Primary Issue | 241.60 | 180.20 | 180.40 | 180.40 | 180.20 |
| Total Common Shares Outstanding | 241.60 | 180.20 | 180.40 | 180.40 | 180.20 |
| Treasury Shares – Common Primary Issue | 16.00 | 15.80 | 15.20 | 14.50 | 13.70 |
| Employees | 23,000.00 | 17,800.00 | 17,300.00 | 16,700.00 | 16,300.00 |
| Number of Common Shareholders | 7,833.00 | 8,359.00 | 8,875.00 | 9,526.00 | 10,046.00 |
| Accumulated Intangible Amortization | 1,088.00 | 840.00 | 991.00 | 887.00 | 737.00 |
| Total Current Assets less Inventory | 2,866.00 | 2,213.00 | 2,460.00 | 2,965.00 | 1,911.00 |
| Quick Ratio | 1.30 | 1.39 | 1.77 | 1.52 | 1.27 |
| Current Ratio | 1.76 | 1.89 | 2.27 | 1.80 | 1.63 |
| Net Debt | 1,361.00 | 945.00 | 1,099.00 | 1,217.00 | 1,602.00 |
| Tangible Book Value | 50.00 | -155.00 | -590.00 | -979.00 | -1,056.00 |
| Tangible Book Value per Share | 0.21 | -0.86 | -3.27 | -5.43 | -5.86 |
| Total Long Term Debt, Supplemental | 0.00 | 1,880.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing within 1 Year | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in Year 2 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in Year 3 | 0.00 | 250.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in Year 4 | 0.00 | 250.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in Year 5 | 0.00 | 250.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in Year 6 | 0.00 | 250.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in 2-3 Years | 0.00 | 250.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in 4-5 Years | 0.00 | 500.00 | 0.00 | 0.00 | 0.00 |
| Long Term Debt Maturing in Year 6 & Beyond | 0.00 | 1,130.00 | 0.00 | 0.00 | 0.00 |
| Interest Costs | -8.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Capital Leases | 86.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in Year 1 | 22.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in Year 2 | 23.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in Year 3 | 19.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in Year 4 | 14.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in Year 5 | 8.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in 2-3 Years | 42.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in 4-5 Years | 22.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Lease Payments Due in Year 6 & Beyond | 8.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Operating Leases | 354.00 | 293.00 | 308.00 | 275.00 | 243.00 |
| Operating Lease Payments Due in Year 1 | 89.00 | 71.00 | 73.00 | 68.00 | 65.00 |
| Operating Lease Payments Due in Year 2 | 78.00 | 58.00 | 60.00 | 54.00 | 50.00 |
| Operating Lease Payments Due in Year 3 | 63.00 | 45.00 | 48.00 | 42.00 | 37.00 |
| Operating Lease Payments Due in Year 4 | 49.00 | 35.00 | 36.00 | 32.00 | 29.00 |
| Operating Lease Payments Due in Year 5 | 37.00 | 28.00 | 28.00 | 24.00 | 21.00 |
| Operating Lease Payments Due in 2-3 Years | 141.00 | 103.00 | 108.00 | 96.00 | 87.00 |
| Operating Lease Payments Due in 4-5 Years | 86.00 | 63.00 | 64.00 | 56.00 | 50.00 |
| Standardized Operating Lease Payments Due in Year 6 and Beyond | 38.00 | 56.00 | 63.00 | 55.00 | 41.00 |
| Pension Obligation - Domestic | 99.00 | 92.00 | 117.00 | 123.00 | 113.00 |
| Pension Obligation - Foreign | 483.00 | 390.00 | 926.00 | 1,032.00 | 846.00 |
| Plan Assets - Domestic | 86.00 | 80.00 | 108.00 | 113.00 | 105.00 |
| Plan Assets - Foreign | 210.00 | 166.00 | 571.00 | 578.00 | 500.00 |
| Funded Status - Domestic | -13.00 | -12.00 | -9.00 | -10.00 | -8.00 |
| Funded Status - Foreign | -273.00 | -224.00 | -355.00 | -454.00 | -346.00 |
| Accumulated Obligation - Domestic | 551.00 | 460.00 | 1,009.00 | 1,107.00 | 919.00 |
| Unfunded Plan Obligations | 31.00 | 42.00 | 44.00 | 44.00 | 49.00 |
| Total Funded Status | -317.00 | -278.00 | -408.00 | -508.00 | -403.00 |
| Discount Rate - Domestic | 5.00 | 5.25 | 3.00 | 2.50 | 3.25 |
| Discount Rate - Foreign | 3.55 | 4.13 | 1.55 | 1.06 | 1.80 |
| Compensation Rate - Foreign | 2.87 | 2.79 | 2.84 | 2.79 | 2.94 |
| Prepaid Benefits - Domestic | 43.00 | 34.00 | 48.00 | 27.00 | 58.00 |
| Prepaid Benefits - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Accrued Liabilities - Domestic | -329.00 | -270.00 | -412.00 | -491.00 | -412.00 |
| Accrued Liabilities - Post-Retirement | -31.00 | -31.00 | -45.00 | -44.00 | -49.00 |
| Net Assets Recognized on Balance Sheet | -317.00 | -267.00 | -409.00 | -508.00 | -403.00 |
| Equity % - Domestic | 43.90 | 47.10 | 23.00 | 20.80 | 18.60 |
| Debt Securities % - Domestic | 42.90 | 43.90 | 21.90 | 23.00 | 33.70 |
| Private Investments % - Domestic | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Investments % - Domestic | 13.20 | 9.00 | 55.10 | 56.20 | 47.70 |
| Total Plan Obligations | 613.00 | 524.00 | 1,087.00 | 1,199.00 | 1,008.00 |
| Total Plan Assets | 296.00 | 246.00 | 679.00 | 691.00 | 605.00 |
Source:
