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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 215.0 $ 167.2
Trade accounts receivable, less allowances of $34.4 at year-end 2023 and 2022 1,414.9 1,374.4
Inventories 920.7 1,009.9
Other current assets 245.4 230.5
Total current assets 2,796.0 2,782.0
Property, plant and equipment, net 1,625.8 1,540.2
Goodwill 2,013.6 1,862.4
Other intangibles resulting from business acquisitions, net 849.1 840.3
Deferred tax assets 115.7 115.1
Other assets 809.6 810.5
Total assets 8,209.8 7,950.5
Current liabilities:    
Short-term borrowings and current portion of long-term debt and finance leases 622.2 598.6
Accounts payable 1,277.1 1,339.3
Accrued payroll and employee benefits 213.4 228.5
Accrued trade rebates 142.4 173.8
Income taxes payable 57.6 76.2
Other current liabilities 386.8 383.4
Total current liabilities 2,699.5 2,799.8
Long-term debt and finance leases 2,622.1 2,503.5
Long-term retirement benefits and other liabilities 500.3 367.1
Deferred tax liabilities and income taxes payable 260.0 247.9
Commitments and contingencies (see Notes 7 and 8)
Shareholders’ equity:    
Common stock, $1 par value per share, authorized – 400,000,000 shares at year-end 2023 and 2022; issued – 124,126,624 shares at year-end 2023 and 2022; outstanding – 80,495,585 and 80,810,016 shares at year-end 2023 and 2022, respectively 124.1 124.1
Capital in excess of par value 854.5 879.3
Retained earnings 4,691.8 4,414.6
Treasury stock at cost, 43,631,039 and 43,316,608 shares at year-end 2023 and 2022, respectively (3,134.4) (3,021.8)
Accumulated other comprehensive loss (408.1) (364.0)
Total shareholders’ equity 2,127.9 2,032.2
Total liabilities and shareholders' equity $ 8,209.8 $ 7,950.5