Edwards Lifesciences Corp | 2013 | FY | 3

4.    COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS

        Components of selected captions in the consolidated balance sheets at December 31 are as follows:

 
   December 31,  
 
   2013   2012  
 
   (in millions)
  

Accounts receivable, net(a)

              

Trade accounts receivable

   $ 307.9   $ 326.7  

Allowance for doubtful accounts

     (5.4 )   (5.6 )
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 302.5   $ 321.1  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Inventories

              

Raw materials

   $ 57.8   $ 49.5  

Work in process

     82.2     58.8  

Finished products

     168.9     172.7  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 308.9   $ 281.0  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Property, plant and equipment, net

              

Land

   $ 21.6   $ 21.5  

Buildings and leasehold improvements

     268.2     183.7  

Machinery and equipment

     307.6     278.9  

Equipment with customers

     40.2     40.2  

Software

     99.2     102.1  

Construction in progress

     27.9     68.1  
           
​ ​ ​ ​ ​ ​ ​ ​

 

     764.7     694.5  

Accumulated depreciation

     (343.1 )   (321.2 )
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 421.6   $ 373.3  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Long-term accounts receivable, net(a)

              

Long-term trade accounts receivable

   $ 14.1   $ 16.3  

Allowance for doubtful accounts

     (6.8 )   (6.4 )
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 7.3   $ 9.9  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Accrued and other liabilities

              

Employee compensation and withholdings

   $ 101.1   $ 102.7  

Clinical trial accruals

     37.2     23.1  

Property, payroll and other taxes

     31.6     31.0  

Fair value of derivatives

     17.2     —  

Accrued rebates

     15.0     14.2  

Realignment reserves

     9.5     8.7  

Deferred income taxes

     7.2     8.7  

Taxes payable

     7.1     9.5  

Litigation reserves (Note 16)

     1.7     3.1  

Other accrued liabilities

     69.6     71.7  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 297.2   $ 272.7  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
(a)
As of December 31, 2013 and 2012, the Company's accounts receivables, net of the allowance for doubtful accounts, from customers in certain European countries were $104.7 million and $104.7 million, respectively. Balances from customers located in these countries that are expected to be collected beyond one year have been discounted to present value based on the estimated collection date.

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