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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES    
Net income including noncontrolling interest $ 495.6 $ 544.2
Adjustments to reconcile net income including noncontrolling interest to cash provided by operating activities:    
Depreciation 276.0 285.8
Amortization 145.3 149.9
Deferred income taxes (28.8) (34.9)
Share-based compensation expense 53.6 47.1
Excess tax benefits from share-based payment arrangements (19.6) (31.4)
Pension and postretirement plan contributions (192.0) (38.0)
Pension and postretirement plan expense 28.6 58.1
Restructuring charges, net of cash paid (27.1) (4.6)
Venezuelan charges   30.2
Loss on sale of business   13.7
Asset charges and write-downs 50.9  
Other, net 12.7 7.0
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable 62.5 22.2
Inventories 40.6 (66.0)
Other assets 19.7 (58.4)
Accounts payable (79.2) (145.7)
Other liabilities 36.0 (142.6)
Cash provided by operating activities 874.8 636.6
INVESTING ACTIVITIES    
Capital expenditures (303.7) (327.5)
Capitalized software expenditures (22.2) (14.3)
Property and other assets sold 11.4 6.8
Acquisitions and investments in affiliates, net of cash acquired (9.4) (14.7)
Divestiture of businesses   0.3
Release from acquisition related escrow   9.4
Cash used for investing activities (323.9) (340.0)
FINANCING ACTIVITIES    
Net issuances (repayments) of commercial paper and notes payable (342.4) 449.6
Long-term debt borrowings 793.8 595.6
Long-term debt repayments (130.0) (380.0)
Reacquired shares (637.9) (726.3)
Dividends paid (217.6) (202.5)
Exercise of employee stock options 40.7 49.0
Excess tax benefits from share-based payment arrangements 19.6 31.4
Acquisition related liabilities and contingent consideration (3.4) (0.8)
Cash provided by (used for) financing activities (477.2) (184.0)
Effect of exchange rate changes on cash and cash equivalents 0.9 (11.6)
Increase in cash and cash equivalents 74.6 101.0
Cash and cash equivalents, beginning of year 92.8 209.6
Cash and cash equivalents, end of year $ 167.4 $ 310.6