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

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions
 12 Months Ended
Mar. 31, 2011
Mar. 31, 2010
Current assets:    
Cash and cash equivalents $ 18.6 $ 19.2
Restricted cash and cash equivalents 0.8 0.6
Restricted cash and cash equivalents - Asbestos 56.1 44.5
Restricted short-term investments - Asbestos 5.8 13.3
Accounts and other receivables, net of allowance for doubtful accounts of $2.7 million and $2.3 million as of March 31, 2011 and March 31, 2010, respectively 138.1 155.0
Inventories 161.5 149.1
Prepaid expenses and other current assets 31.6 25.6
Insurance receivable - Asbestos 13.7 16.7
Workers' compensation - Asbestos 0.3 0.1
Deferred income taxes 21.1 24.0
Deferred income taxes - Asbestos 10.5 16.4
Total current assets 458.1 464.5
Restricted cash and cash equivalents 4.5 4.7
Property, plant and equipment, net 707.7 710.6
Insurance receivable - Asbestos 188.6 185.1
Workers' compensation - Asbestos 90.4 98.8
Deferred income taxes 27.3 3.2
Deferred income taxes - Asbestos 451.4 420.0
Deposit with Australian Taxation Office 0 247.2
Other assets 32.6 44.7
Total assets 1,960.6 2,178.8
Current liabilities:    
Accounts payable and accrued liabilities 106.4 100.9
Current portion of long-term debt 0 95.0
Accrued payroll and employee benefits 40.9 42.1
Accrued product warranties 6.1 6.7
Income taxes payable 3.9 34.9
Asbestos liability 111.1 106.7
Workers' compensation - Asbestos 0.3 0.1
Other liabilities 53.8 27.7
Total current liabilities 322.5 414.1
Long-term debt 59.0 59.0
Deferred income taxes 108.1 113.5
Accrued product warranties 20.1 18.2
Asbestos liability 1,587.0 1,512.5
Workers' compensation - Asbestos 90.4 98.8
Australian Taxation Office - amended assessment 190.4 0
Other liabilities 37.6 80.6
Total liabilities 2,415.1 2,296.7
Commitments and contingencies (Note 13)    
Shareholders' deficit:    
Common stock, Euro 0.59 par value, 2.0 billion shares authorized; 436,386,587 shares issued at March 31, 2011 and 434,524,879 shares issued at March 31, 2010 222.5 221.1
Additional paid-in capital 52.5 39.5
Accumulated deficit (784.7) (437.7)
Accumulated other comprehensive income 55.2 59.2
Total shareholders' deficit (454.5) (117.9)
Total liabilities and shareholders' deficit $ 1,960.6 $ 2,178.8