Condensed Consolidated Balance Sheets

At December 31, (In thousands, except share data) 2009 2008

Assets

    
Current assets    
Cash and cash equivalents $65,010 $60,705
Receivables, net 404,539 395,659
Inventories, net 285,608 281,508
Deferred tax assets, net 48,777 37,314
Other current assets 33,567 26,833
Total current assets 837,501 802,019
Property, plant and equipment, net 401,149 364,032
Goodwill 648,452 608,898
Other intangible assets, net 242,506 234,596
Deferred tax assets, net 1,994 23,128
Other assets 10,439 9,357
Total assets $2,142,041 $2,042,030

Liabilities

    
Current liabilities    
Current portion of long-term debt and short-term debt $80,981 $3,249
Accounts payable 129,880 140,954
Accrued expenses 90,855 103,973
Income taxes payable 4,212 8,213
Deferred revenue 167,683 138,753
Other current liabilities 50,708 56,542
Total current liabilities 524,319 451,684
Long-term debt 384,112 513,460
Deferred tax liabilities, net 25,549 26,850
Accrued pension and other postretirement benefit costs 120,930 125,762
Long-term portion of environmental reserves 18,804 20,377
Other liabilities 41,570 37,135
Total liabilities 1,115,284 1,175,268

Contingencies and Commitments

    
Stockholders' equity    
Common stock, $1 par value, 100,000,000 shares authorized at December 31, 2009 and 2008; 48,213,472 and 47,903,187 shares issued at December 31, 2009 and 2008, respectively; outstanding shares were 45,624,179 at December 31, 2009 and 45,064,839 at December 31, 2008 48,214 47,903
Additional paid-in capital 111,707 94,500
Retained earnings 980,590 899,928
Accumulated other comprehensive loss (19,605) (72,551)
1,120,906 969,780
Less: Common treasury stock, at cost (2,589,293 shares at December 31, 2009, and 2,838,348 shares at December 31, 2008) (94,149) (103,018)
Total stockholders' equity 1,026,757 866,762
Total liabilities and stockholders' equity $2,142,041 $2,042,030