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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES    
Net income including noncontrolling interest $ 875.1 $ 794.3
Adjustments to reconcile net income including noncontrolling interest to cash provided by operating activities:    
Depreciation 420.9 422.7
Amortization 217.2 224.4
Deferred income taxes (55.3) (176.2)
Share-based compensation expense 67.7 60.1
Excess tax benefits from share-based payment arrangements (39.5) (36.2)
Pension and postretirement plan contributions (207.0) (54.0)
Pension and postretirement plan expense 43.1 87.0
Restructuring charges, net of cash paid (48.1) (9.9)
Venezuelan charges   165.9
Loss on sale of business   13.7
Asset charges and write-downs 50.9  
Other, net 11.9 2.2
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable 37.8 (11.6)
Inventories 34.6 (77.4)
Other assets (14.0) (79.8)
Accounts payable (37.6) (63.9)
Other liabilities 134.0 133.9
Cash provided by operating activities 1,491.7 1,395.2
INVESTING ACTIVITIES    
Capital expenditures (478.6) (551.6)
Capitalized software expenditures (32.2) (24.7)
Property and other assets sold 29.6 10.2
Acquisitions and investments in affiliates, net of cash acquired (44.7) (129.5)
Divestiture of businesses   0.3
Release from acquisition related escrow   44.4
Restricted cash activity (55.9)  
Settlement of net investment hedges   101.8
Cash used for investing activities (581.8) (549.1)
FINANCING ACTIVITIES    
Net issuances (repayments) of commercial paper and notes payable (522.4) (227.4)
Long-term debt borrowings 793.8 1,225.0
Long-term debt repayments (130.5) (884.2)
Reacquired shares (737.8) (727.8)
Dividends paid (324.5) (301.6)
Exercise of employee stock options 62.3 57.8
Excess tax benefits from share-based payment arrangements 39.5 36.2
Acquisition related liabilities and contingent consideration (3.8) (0.8)
Cash provided by (used for) financing activities (823.4) (822.8)
Effect of exchange rate changes on cash and cash equivalents 1.3 (48.1)
Increase in cash and cash equivalents 87.8 (24.8)
Cash and cash equivalents, beginning of year 92.8 209.6
Cash and cash equivalents, end of year $ 180.6 $ 184.8