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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flow From Operating Activities    
Net Income $ 635.7 $ 471.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 48.4 47.9
Amortization expense 90.5 82.0
Change in fair value of business acquisition liabilities (71.7) 9.7
Deferred income taxes 28.0 6.1
Equity in net earnings of affiliates (5.5) (5.5)
Distributions from unconsolidated affiliates 5.8 3.8
Non-cash compensation expense 18.7 17.7
Gain on sale of assets (3.0) (0.0)
Other 1.4 6.7
Change in assets and liabilities:    
Accounts receivable (18.1) (41.8)
Inventories (82.3) (7.1)
Other current assets (4.1) 6.5
Accounts payable and accrued expenses 140.1 1.8
Income taxes payable 13.1 14.9
Other operating assets and liabilities, net 1.2 3.3
Net Cash Provided By Operating Activities 798.2 617.5
Cash Flow From Investing Activities    
Additions to property, plant and equipment (54.6) (39.7)
Proceeds from sale of assets 7.0 0.0
Acquisitions (0.0) (475.0)
Other (3.6) (4.3)
Net Cash Used In Investing Activities (51.2) (519.0)
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) (250.4) 72.4
Proceeds from stock options exercised 89.1 49.8
Payment of cash dividends (177.7) (168.2)
Purchase of treasury stock (0.0) (250.0)
Payment of business acquisition liabilities (14.5) (0.0)
Deferred financing and other (0.2) (2.6)
Net Cash Used In Financing Activities (353.7) (298.6)
Effect of exchange rate changes on cash and cash equivalents 0.1 (1.9)
Net Change In Cash and Cash Equivalents 393.4 (202.0)
Cash and Cash Equivalents at Beginning of Period 155.7 316.7
Cash and Cash Equivalents at End of Period 549.1 114.7
Cash paid during the period for:    
Interest (net of amounts capitalized) 52.0 57.4
Income taxes 120.0 91.3
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment expenditures included in Accounts Payable $ 15.4 $ 8.5