XML 43 R6.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flow From Operating Activities    
Net Income $ 471.5 $ 425.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 47.9 47.6
Amortization expense 82.0 57.8
Deferred income taxes 6.1 4.5
Equity in net earnings of affiliates (5.5) (7.0)
Distributions from unconsolidated affiliates 3.8 7.6
Non-cash compensation expense 17.7 19.8
Other 6.7 0.3
Change in assets and liabilities:    
Accounts receivable (41.8) (17.2)
Inventories (7.1) (60.5)
Other current assets 6.5 24.6
Accounts payable and accrued expenses 1.8 43.8
Income taxes payable 14.9 15.2
Change in fair value of business acquisition liabilities 9.7 0.0
Other operating assets and liabilities, net 3.3 5.7
Net Cash Provided By Operating Activities 617.5 568.0
Cash Flow From Investing Activities    
Additions to property, plant and equipment (39.7) (30.4)
Acquisitions (475.0) (49.8)
Other (4.3) (2.1)
Net Cash Used In Investing Activities (519.0) (82.3)
Cash Flow From Financing Activities    
Long-term debt borrowings 300.0 0.0
Long-term debt (repayments) (300.0) (0.0)
Short-term debt (repayments), net of borrowings 72.4 (269.5)
Proceeds from stock options exercised 49.8 58.0
Payment of cash dividends (168.2) (159.6)
Purchase of treasury stock (250.0) (200.0)
Deferred financing and other (2.6) (3.0)
Net Cash Used In Financing Activities (298.6) (574.1)
Effect of exchange rate changes on cash and cash equivalents (1.9) (2.2)
Net Change In Cash and Cash Equivalents (202.0) (90.6)
Cash and Cash Equivalents at Beginning of Period 316.7 278.9
Cash and Cash Equivalents at End of Period 114.7 188.3
Cash paid during the period for:    
Interest (net of amounts capitalized) 57.4 60.3
Income taxes 91.3 71.7
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment expenditures included in Accounts Payable $ 8.5 $ 6.9