XML 36 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities      
Net income $ 282.1 $ 327.2 $ 329.8
Adjustments to reconcile net income to net cash provided by operating activities net of acquisitions:      
Depreciation and amortization 85.2 79.2 70.6
Deferred income taxes (4.5) 30.3 13.3
Stock-based compensation 17.0 16.4 14.3
Tax benefit on stock-based awards (2.3) (9.2) (8.4)
(Gain) loss on sale of assets 0.5 (1.3) 0.2
Changes in assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable 1.9 (17.8) (30.9)
Increase in inventories (80.8) (46.9) (25.9)
Increase in current liabilities 46.6 20.0 1.7
Changes in other assets and liabilities, net 6.1 15.4 15.8
Contributions to qualified defined benefit pension plans (22.6) (23.5) (3.2)
Other, net 1.9 1.7 4.5
NET CASH PROVIDED BY OPERATING ACTIVITIES 331.1 391.5 381.8
Cash Flows from Investing Activities      
Capital expenditures (77.1) (60.3) (58.8)
Acquisitions, net of cash acquired (163.4) (183.8) (96.5)
Purchases of available-for-sale investments (24.5) (17.6) (11.1)
Proceeds from sales of available-for-sale investments 13.8 12.1 10.5
Proceeds from disposition of assets 0.7 6.0 3.4
Other, net 1.3 1.0 1.4
NET CASH USED IN INVESTING ACTIVITIES (249.2) (242.6) (151.1)
Cash Flows from Financing Activities      
Issuance of short-term debt 48.8 2.0 0.4
Payment of short-term debt (2.0) (0.8) (0.1)
Payment of dividends (133.7) (121.2) (109.5)
Payment of dividends to noncontrolling interest (5.0) (1.7) (1.5)
Proceeds from exercise of stock options 0.0 2.4 2.4
Tax benefit on stock-based awards 2.3 9.2 8.4
Acquisition of common shares (79.1) [1] (105.5) (31.0)
Payments for share reclassification (200.7) 0.0 0.0
Other (1.7) 0.0 0.0
NET CASH USED IN FINANCING ACTIVITIES (371.1) (215.6) (130.9)
Effect of foreign currency exchange rate changes on cash and cash equivalents (21.2) (20.1) (4.1)
Increase in cash and cash equivalents (310.4) (86.8) 95.7
Cash and cash equivalents, beginning of year 653.9 740.7 645.0
Cash and cash equivalents, end of year 343.5 $ 653.9 $ 740.7
Accrued share repurchase amount $ 9.0    
[1] In 2015, the Company had $9.0 million of share repurchases accrued in other accrued liabilities.