XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flow From Operating Activities    
Net Income $ 220.7 $ 229.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 16.8 16.0
Amortization expense 38.1 30.2
Change in fair value of business acquisition liabilities (19.0) (27.0)
Deferred income taxes 8.1 8.1
Equity in net earnings of affiliates (2.6) (1.6)
Distributions from unconsolidated affiliates 1.7 1.3
Non-cash compensation expense 3.1 2.7
Gain on sale of assets (0.0) (3.0)
Other 1.7 2.1
Change in assets and liabilities:    
Accounts receivable (8.3) (8.3)
Inventories (46.3) 15.2
Other current assets 1.9 (5.0)
Accounts payable and accrued expenses (168.1) (74.0)
Income taxes payable 55.0 54.0
Other operating assets and liabilities, net (2.6) (4.0)
Net Cash Provided By Operating Activities 100.2 236.5
Cash Flow From Investing Activities    
Additions to property, plant and equipment (26.3) (16.8)
Proceeds from sale of assets 0.0 7.0
Other (3.7) (1.6)
Net Cash Used In Investing Activities (30.0) (11.4)
Cash Flow From Financing Activities    
Short-term debt borrowings, net of (repayments) (69.0) 719.9
Proceeds from stock options exercised 5.9 9.3
Payment of cash dividends (61.9) (59.0)
Deferred financing and other (0.0) (0.1)
Net Cash (Used In) Provided By Financing Activities (125.0) 670.1
Effect of exchange rate changes on cash and cash equivalents (0.8) (4.3)
Net Change In Cash and Cash Equivalents (55.6) 890.9
Cash and Cash Equivalents at Beginning of Period 183.1 155.7
Cash and Cash Equivalents at End of Period 127.5 1,046.6
Cash paid during the period for:    
Interest (net of amounts capitalized) 19.4 21.9
Income taxes 7.4 7.4
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment expenditures included in Accounts Payable $ 9.1 $ 7.0