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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES      
Net income including noncontrolling interest $ 1,017.2 $ 1,222.2 $ 973.6
Adjustments to reconcile net income including noncontrolling interest to cash provided by operating activities:      
Depreciation 559.5 558.1 514.2
Amortization 300.0 313.9 302.0
Deferred income taxes (244.5) (121.5) (130.5)
Share-based compensation expense 78.2 71.1 69.6
Excess tax benefits from share-based payment arrangements (57.8) (55.9) (36.6)
Pension and postretirement plan contributions (64.9) (76.7) (80.0)
Pension and postretirement plan expense 113.8 83.9 142.4
Restructuring, net of cash paid 38.4 0.3 (39.8)
Venezuela charges 289.3   23.2
Gain (loss) on sale of business 13.7 (4.8) 1.9
Fixed asset impairment 24.7    
Other, net 11.6 7.8 16.4
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable (24.0) (175.4) (147.4)
Inventories (48.6) (210.8) (30.5)
Other assets (69.1) (106.3) (68.7)
Accounts payable (46.1) 174.7 50.6
Other liabilities 108.4 135.0 (0.6)
Cash provided by operating activities 1,999.8 1,815.6 1,559.8
INVESTING ACTIVITIES      
Capital expenditures (771.0) (748.7) (625.1)
Capitalized software expenditures (44.2) (45.2) (37.2)
Property and other assets sold 15.0 10.9 18.1
Acquisitions and investments in affiliates, net of cash acquired (265.9) (82.6) (1,437.7)
Divestiture of businesses 0.5 10.4 (8.3)
Deposit into acquisition related escrow   (9.4) (10.5)
Release from acquisition related escrow 45.6 8.7 13.0
Reduction of cash due to Venezuelan deconsolidation (4.2)    
Settlement of net investment hedges 108.4 7.6  
Cash used for investing activities (915.8) (848.3) (2,087.7)
FINANCING ACTIVITIES      
Net issuances (repayments) of commercial paper and notes payable (312.1) 599.6 (278.3)
Long-term debt borrowings 1,223.7   900.1
Long-term debt repayments (1,034.7) (907.8) (511.2)
Reacquired shares (755.1) (428.6) (307.6)
Dividends paid (400.7) (344.4) (218.1)
Exercise of employee stock options 83.1 65.4 97.0
Excess tax benefits from share-based payment arrangements 57.8 55.9 36.6
Acquisition related liabilities and contingent consideration (12.9) (98.7) (11.3)
Acquisition of noncontrolling interest   (8.4)  
Other, net   (4.0) 0.2
Cash used for financing activities (1,150.9) (1,071.0) (292.6)
Effect of exchange rate changes on cash and cash equivalents (49.9) (25.9) 1.9
Decrease in cash and cash equivalents (116.8) (129.6) (818.6)
Cash and cash equivalents, beginning of year 209.6 339.2 1,157.8
Cash and cash equivalents, end of year 92.8 209.6 339.2
SUPPLEMENTAL CASH FLOW INFORMATION      
Income taxes paid 533.1 522.0 434.2
Interest paid $ 237.2 $ 255.5 $ 258.9