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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Consolidated net income $ 223.9 $ 200.2
Adjustments to reconcile consolidated net income to cash flows from operating activities:    
Depreciation and amortization 77.6 64.3
Stock-based compensation expense 17.8 23.0
Deferred income taxes 12.8 (25.7)
Impairment of strategic investments and other long-lived assets 19.5 0.0
Gain on sale of strategic investment (6.8) 0.0
Gain on sale of property, plant and equipment (9.4) 0.0
Other non-cash expenses, net 18.3 11.8
Changes in operating assets and liabilities, net of acquisitions and divestitures:    
Accounts receivable (12.4) (39.7)
Inventories (147.3) (139.1)
Accounts payable and accrued expenses 11.1 0.3
Income taxes payable, net (13.5) 10.6
Deferred revenue and customer advances 6.5 10.5
Other changes in operating assets and liabilities, net (53.5) (13.3)
Net cash provided by operating activities 144.6 102.9
Cash flows from investing activities:    
Purchases of property, plant and equipment (75.4) (94.6)
Maturity of short-term investments   100.0
Proceeds from sale of strategic investment 11.8 0.0
Cash paid for strategic investments (19.3) (40.8)
Cash paid for acquisitions, net of cash acquired (222.3) (85.5)
Proceeds from sales of property, plant and equipment 10.9 13.8
Net proceeds from cross-currency swap agreements 5.1 4.8
Net cash used in investing activities (289.2) (102.3)
Cash flows from financing activities:    
Proceeds from long-term debt 3.2 0.0
Repayment of other debt, net (7.0) (1.2)
Repayment of 2012 Note Purchase Agreement 0.0 (105.0)
Repayment of 2019 Note Purchase Agreement (11.3) (2.3)
Proceeds from issuance of common stock, net 4.8 0.8
Payment of contingent consideration (2.7) (1.7)
Payment of dividends to common shareholders (22.1) (22.4)
Repurchase of common stock (101.9) (236.8)
Proceeds from (payment for) the sale (purchase) of noncontrolling interests 3.5 (10.6)
Net cash used in financing activities (133.5) (379.2)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3.7) (63.8)
Net change in cash, cash equivalents and restricted cash (281.8) (442.4)
Cash, cash equivalents and restricted cash at beginning of period 648.7 1,071.7
Cash, cash equivalents and restricted cash at end of period 366.9 629.3
Supplemental disclosure of cash flow information:    
Restricted cash period beginning balance 3.2 3.5
Restricted cash period ending balance $ 3.3 $ 3.1