XML 24 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flow From Operating Activities      
Net Income $ 827.5 $ 785.9 $ 615.9
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 68.4 66.2 63.8
Amortization expense 150.7 123.5 112.6
Change in fair value of business acquisition liabilities (98.0) (93.7) 1.3
Deferred income taxes 20.3 25.7 5.6
Equity in net earnings of affiliates (9.4) (6.7) (6.6)
Distributions from unconsolidated affiliates 9.4 7.4 5.3
Non-cash compensation expense 23.7 21.5 20.8
Asset impairment charge and other asset write-offs 14.9 1.9 13.8
Gain on sale of assets (0.0) (3.0) (0.0)
Other 3.6 2.3 0.1
Change in assets and liabilities:      
Accounts receivable 2.4 (13.4) (9.2)
Inventories (29.1) (61.9) (33.8)
Other current assets (6.1) (10.2) 4.9
Accounts payable and accrued expenses 47.5 168.0 72.8
Income taxes payable (16.0) 12.2 3.4
Other operating assets and liabilities, net (16.0) (35.4) (6.2)
Net Cash Provided By Operating Activities 993.8 990.3 864.5
Cash Flow From Investing Activities      
Additions to property, plant and equipment (118.8) (98.9) (73.7)
Proceeds from sale of assets 0.0 7.0 0.0
Acquisitions (556.0) (512.7) (475.0)
Other (7.2) (3.5) (4.8)
Net Cash Used In Investing Activities (682.0) (608.1) (553.5)
Cash Flow From Financing Activities      
Long-term debt borrowings 799.2 0.0 300.0
Long-term debt (repayments) (300.0) (0.0) (600.0)
Short-term debt (repayments), net of borrowings (98.5) 99.0 251.0
Proceeds from stock options exercised 98.7 93.0 52.8
Payment of cash dividends (247.5) (237.3) (224.1)
Purchase of treasury stock (500.0) (300.0) (250.0)
Payment of business acquisition liabilities (0.0) (14.5) (0.0)
Deferred financing and other (4.0) (0.3) (2.6)
Net Cash Used In Financing Activities (252.1) (360.1) (472.9)
Effect of exchange rate changes on cash and cash equivalents (2.2) 5.3 0.9
Net Change In Cash and Cash Equivalents 57.5 27.4 (161.0)
Cash and Cash Equivalents at Beginning of Period 183.1 155.7 316.7
Cash and Cash Equivalents at End of Period 240.6 183.1 155.7
Cash paid during the year for:      
Interest (net of amounts capitalized) 51.8 58.8 70.6
Income taxes 202.8 162.1 134.8
Supplemental disclosure of non-cash investing activities:      
Property, plant and equipment expenditures included in Accounts Payable $ 10.7 $ 20.1 $ 10.4