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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Net earnings $ 217.6 $ 397.3
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 174.7 137.8
Share-based incentive compensation 31.4 39.9
Profit sharing expense 19.1 20.5
Loss on debt redemption and refinancing activities 4.9 11.2
Provision for allowance for credit losses on trade receivables 3.6 6.5
Provisions for inventory obsolescence 14.9 13.6
Deferred taxes, net (41.3) (1.0)
Net loss (gain) on disposal/sale of businesses 52.6 (1.1)
Impairment loss on equity investments 0.0 31.6
Other non-cash items 19.8 5.7
Changes in operating assets and liabilities:    
Trade receivables, net 18.1 (65.7)
Inventories, net 60.2 (289.0)
Accounts payable (132.7) 4.8
Customer advance payments (9.8) 7.0
Income tax receivable/payable (9.9) 12.9
Tax deposit (175.0) 0.0
Other assets and liabilities (55.7) (11.2)
Net cash provided by operating activities 192.5 320.8
Cash flows from investing activities:    
Capital expenditures (185.0) (183.5)
Proceeds related to sale of business and property and equipment, net 1.9 9.2
Businesses acquired in purchase transactions, net of cash acquired (1,162.9) (9.7)
Proceeds (Payments) associated with debt, equity and equity method investments 3.3 (2.6)
Net cash used in investing activities (1,326.0) (183.8)
Cash flows from financing activities:    
Net proceeds from short-term borrowings 206.6 1.5
Proceeds from long-term debt 1,411.4 423.2
Payments of long-term debt (433.2) (425.0)
Payments of debt modification/extinguishment costs and other (14.1) (15.1)
Dividends paid on common stock (88.9) (89.5)
Impact of tax withholding on share-based compensation (21.3) (26.2)
Repurchases of common stock (79.9) (280.2)
Principal payments related to financing leases (6.4) (7.7)
Net cash provided by (used in) financing activities 974.2 (419.0)
Effect of foreign currency exchange rate changes on cash and cash equivalents (15.5) (30.2)
Cash and cash equivalents 456.1 561.0
Restricted cash and cash equivalents 0.0 0.0
Balance, beginning of period 456.1 561.0
Net change during the period (174.8) (312.2)
Cash and cash equivalents 281.3 248.8
Restricted cash and cash equivalents 0.0 0.0
Balance, end of period 281.3 248.8
Supplemental Cash Flow Information:    
Interest payments, net of amounts capitalized 201.7 128.7
Income tax payments, net of cash refunds 310.1 133.6
Restructuring payments including associated costs 12.4 19.1
Non-cash items:    
Transfers of shares of common stock from treasury for profit-sharing contributions 23.9 22.7
Foreign currency forward contracts    
Cash flows from investing activities:    
Settlement of foreign currency forward contracts and cross currency swaps 15.1 2.8
Cross-currency swaps    
Cash flows from investing activities:    
Settlement of foreign currency forward contracts and cross currency swaps $ 1.6 $ 0.0