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CONSOLIDATED STATEMENT OF CASH FLOWS
€ in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
OPERATING ACTIVITIES    
Net income including noncontrolling interest $ 290.2 $ 300.4
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 169.3 159.0
Amortization 80.3 79.8
Deferred income taxes (5.3) (5.0)
Share-based compensation expense 29.1 32.2
Pension and postretirement plan contributions (20.6) (19.0)
Pension and postretirement plan expense 9.9 4.9
Restructuring charges, net of cash paid (16.2) 16.3
Other, net 11.8 6.4
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (76.2) 8.0
Inventories (26.0) (83.0)
Other assets (48.8) 5.9
Accounts payable   (35.3)
Other liabilities (25.7) (92.5)
Cash provided by operating activities 371.8 378.1
INVESTING ACTIVITIES    
Capital expenditures (160.7) (187.0)
Property and other assets sold 1.4 1.4
Acquisitions and investments in affiliates, net of cash acquired (1.5) (281.8)
Other, net (4.9) (10.0)
Cash used for investing activities (165.7) (477.4)
FINANCING ACTIVITIES    
Net issuances of commercial paper and notes payable 957.6 487.9
Long-term debt borrowings 766.6  
Long-term debt repayments (299.7) (400.3)
Reacquired shares (95.0) (131.4)
Dividends paid (145.5) (141.4)
Exercise of employee stock options 83.4 67.7
Acquisition related liabilities and contingent consideration (2.5)  
Other, net 0.9  
Cash provided by (used for) financing activities 1,265.8 (117.5)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3.6 1.8
Increase (decrease) in cash, cash equivalents and restricted cash 1,475.5 (215.0)
Cash, cash equivalents and restricted cash, beginning of period 186.4 294.0
Cash, cash equivalents and restricted cash, end of period $ 1,661.9 $ 79.0