Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Mar. 31, 2022
Current assets:    
Cash and cash equivalents $ 113.0 $ 125.0
Restricted cash and cash equivalents 5.0 5.0
Restricted cash and cash equivalents - Asbestos 67.6 141.9
Restricted short-term investments - Asbestos 140.9 119.7
Accounts and other receivables, net 354.8 398.4
Inventories 344.2 279.7
Prepaid expenses and other current assets 41.0 43.2
Insurance receivable - Asbestos 6.8 7.9
Workers’ compensation - Asbestos 1.8 3.2
Total current assets 1,075.1 1,124.0
Property, plant and equipment, net 1,839.6 1,457.0
Operating lease right-of-use-assets 59.4 57.8
Finance lease right-of-use-assets 2.0 2.3
Goodwill 194.9 199.5
Intangible assets, net 155.2 162.8
Restricted long-term investments - Asbestos 36.2 0.0
Insurance receivable - Asbestos 28.2 37.8
Workers’ compensation - Asbestos 16.4 18.6
Deferred income taxes 755.6 819.2
Deferred income taxes - Asbestos 298.6 360.1
Other assets 17.9 4.1
Total assets 4,479.1 4,243.2
Current liabilities:    
Accounts payable and accrued liabilities 387.7 458.0
Accrued payroll and employee benefits 108.3 116.6
Operating lease liabilities 18.1 12.5
Finance lease liabilities 0.8 1.1
Accrued product warranties 5.4 6.7
Income taxes payable 15.4 9.5
Asbestos liability 119.4 132.9
Workers’ compensation - Asbestos 1.8 3.2
Other liabilities 40.4 29.4
Total current liabilities 697.3 769.9
Long-term debt 1,059.0 877.3
Deferred income taxes 93.6 86.9
Operating lease liabilities 61.1 63.1
Finance lease liabilities 1.4 1.5
Accrued product warranties 30.2 31.0
Income taxes payable 2.3 2.3
Asbestos liability 857.7 1,010.8
Workers’ compensation - Asbestos 16.4 18.6
Other liabilities 48.7 48.9
Total liabilities 2,867.7 2,910.3
Commitments and contingencies (Note 14)
Shareholders’ equity:    
Common stock, Euro 0.59 par value, 2.0 billion shares authorized; 442,056,296 shares issued and outstanding at 31 March 2023 and 445,348,933 shares issued and outstanding at 31 March 2022 230.0 232.1
Additional paid-in capital 237.9 230.4
Retained earnings 1,196.8 892.4
Accumulated other comprehensive loss (53.3) (22.0)
Total shareholders’ equity 1,611.4 1,332.9
Total liabilities and shareholders’ equity $ 4,479.1 $ 4,243.2