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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Statement of Cash Flows [Abstract]    
Net earnings $ 218.2 $ 226.7
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 91.2 85.9
Share-based incentive compensation 23.0 19.2
Profit sharing expense 11.6 14.1
Provisions for bad debt 0.9 2.6
Provisions for inventory obsolescence 6.6 3.2
Deferred taxes, net 4.5 1.8
Net gain on sale of business (1.7) (12.1)
Other non-cash items 3.4 7.8
Changes in operating assets and liabilities:    
Trade receivables, net (92.9) (26.0)
Inventories, net (144.8) (88.1)
Accounts payable 130.5 2.1
Customer advance payments 4.9 12.0
Income tax receivable/payable 44.3 48.7
Other assets and liabilities (100.2) (84.9)
Net cash provided by operating activities 199.5 213.0
Cash flows from investing activities:    
Capital expenditures (97.1) (83.6)
Receipts associated with sale of business and property and equipment 1.1 5.2
Business acquired, net of cash acquired (0.1) 4.2
Payments associated with debt and equity investments (15.0) 0.0
Investment in marketable securities 0.0 12.9
Settlement of foreign currency forward contracts 8.0 (5.9)
Proceeds of Corporate Owned Life Insurance 7.7 0.0
Net cash used in investing activities (95.4) (67.2)
Cash flows from financing activities:    
Net payments of short-term borrowings (6.8) (20.4)
Proceeds from long-term debt 1.3 0.0
Payments of long-term debt (5.7) 0.0
Dividends paid on common stock (56.1) (50.7)
Impact of tax withholding on share-based compensation (14.0) (11.2)
Repurchases of common stock (299.5) 0.0
Principal payments related to financing leases (5.1) (5.9)
Net cash used in financing activities (385.9) (88.2)
Effect of foreign currency exchange rate changes on cash and cash equivalents 6.2 (30.3)
Cash and cash equivalents 548.7 262.4
Restricted cash and cash equivalents 0.0 0.0
Balance, beginning of period 548.7 262.4
Net change during the period (275.6) 27.3
Cash and cash equivalents 273.1 289.7
Restricted cash and cash equivalents 0.0 0.0
Balance, end of period 273.1 289.7
Supplemental Cash Flow Information:    
Interest payments, net of amounts capitalized 89.4 97.5
Income tax payments, net of cash refunds 35.3 31.4
Restructuring payments including associated costs 10.6 43.9
Non-cash items:    
Transfers of shares of common stock from treasury for profit-sharing contributions $ 28.0 $ 24.4