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
$ in Millions, $ in Millions
Mar. 31, 2018
USD ($)
Mar. 31, 2017
USD ($)
Current assets:    
Cash and cash equivalents $ 281.6 $ 78.9
Restricted cash and cash equivalents 5.0 5.0
Restricted cash and cash equivalents - Asbestos 26.6 108.9
Restricted short-term investments - Asbestos 38.4 0.0
Accounts and other receivables, net of provision for doubtful trade debts of US$1.3 million and US$0.9 million as of 31 March 2018 and 31 March 2017 202.7 199.5
Inventories 255.7 202.9
Prepaid expenses and other current assets 25.4 28.3
Insurance receivable - Asbestos 5.1 5.7
Workers’ compensation - Asbestos 2.1 2.9
Total current assets 842.6 632.1
Property, plant and equipment, net 992.1 879.0
Insurance receivable - Asbestos 52.8 58.1
Workers’ compensation - Asbestos 28.8 40.4
Deferred income taxes 29.9 26.9
Deferred income taxes - Asbestos 382.9 356.6
Other assets 21.9 19.6
Total assets 2,351.0 2,012.7
Current liabilities:    
Accounts payable and accrued liabilities 193.3 173.5
Short-term debt - Asbestos 0.0 52.4
Accrued payroll and employee benefits 61.8 60.5
Accrued product warranties 7.3 9.4
Income taxes payable 3.2 1.9
Asbestos liability 114.1 116.4
Workers’ compensation - Asbestos 2.1 2.9
Other liabilities 12.8 11.8
Total current liabilities 394.6 428.8
Long-term debt 884.4 564.5
Deferred income taxes 66.4 94.8
Accrued product warranties 45.5 37.2
Income taxes payable 25.9 0.0
Asbestos liability 1,101.0 1,043.3
Workers’ compensation - Asbestos 28.8 40.4
Other liabilities 25.9 15.9
Total liabilities 2,572.5 2,224.9
Commitments and contingencies (Note 13)
Shareholders’ deficit:    
Common stock, Euro 0.59 par value, 2.0 billion shares authorized; 441,524,118 shares issued and outstanding at 31 March 2018 and 440,843,275 shares issued and outstanding at 31 March 2017 229.5 229.1
Additional paid-in capital 185.6 173.8
Accumulated deficit (635.3) (612.9)
Accumulated other comprehensive loss (1.3) (2.2)
Total shareholders’ deficit (221.5) (212.2)
Total liabilities and shareholders’ deficit $ 2,351.0 $ 2,012.7