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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flow From Operating Activities    
Net Income $ 419.5 $ 314.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 32.0 31.9
Amortization expense 60.4 51.0
Deferred income taxes 11.4 6.0
Equity in net earnings of affiliates (3.6) (3.4)
Distributions from unconsolidated affiliates 2.7 1.6
Non-cash compensation expense 15.8 15.0
Gain on sale of assets (3.0) (0.0)
Other 1.6 3.5
Change in assets and liabilities:    
Accounts receivable 5.9 (37.3)
Inventories (42.7) (17.9)
Other current assets (2.1) 0.9
Accounts payable and accrued expenses 35.8 6.7
Income taxes payable 87.1 (11.6)
Change in fair value of business acquisition liabilities (20.7) 0.0
Other operating assets and liabilities, net (1.5) (9.4)
Net Cash Provided By Operating Activities 598.6 351.2
Cash Flow From Investing Activities    
Additions to property, plant and equipment (30.9) (23.6)
Proceeds from sale of assets 7.0 0.0
Acquisitions (0.0) (475.0)
Other (2.5) (3.8)
Net Cash Used In Investing Activities (26.4) (502.4)
Cash Flow From Financing Activities    
Long-term debt borrowings 0.0 300.0
Long-term debt (repayments) (0.0) (300.0)
Short-term debt borrowings, net of (repayments) (186.2) 109.8
Proceeds from stock options exercised 44.9 37.0
Payment of cash dividends (118.1) (112.0)
Purchase of treasury stock (0.0) (100.0)
Payment of contingent consideration (14.5) (0.0)
Deferred financing and other (0.1) (2.5)
Net Cash Used In Financing Activities (274.0) (67.7)
Effect of exchange rate changes on cash and cash equivalents (2.2) 0.1
Net Change In Cash and Cash Equivalents 296.0 (218.8)
Cash and Cash Equivalents at Beginning of Period 155.7 316.7
Cash and Cash Equivalents at End of Period 451.7 97.9
Cash paid during the period for:    
Interest (net of amounts capitalized) 32.2 34.7
Income taxes 17.3 87.1
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment expenditures included in Accounts Payable $ 10.3 $ 11.5