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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities    
Net income $ 59.8 $ 63.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40.0 24.2
Deferred income taxes (1.4) 0.7
Stock-based compensation 5.1 4.2
Changes in assets and liabilities, excluding effects of acquisitions:    
Increase in accounts receivable, net (46.9) (13.1)
Increase in inventories, net (19.1) (12.2)
(Decrease) increase in accounts payable (0.7) 8.5
Decrease in current liabilities (35.7) (18.3)
Changes in other assets and liabilities, net (0.5) 8.3
Contribution to qualified defined benefit pension plans (0.5) (0.4)
Other, net (0.5) (2.9)
Net cash (used) provided by operating activities (0.4) 62.9
Cash Flows from Investing Activities    
Capital expenditures (22.0) (13.6)
Acquisition of businesses, net of cash acquired (1,119.4) (19.2)
Purchases of available-for-sale investments (5.0) (3.3)
Proceeds from available-for-sale investments 5.7 2.4
Other, net 0.9 0.9
Net cash used in investing activities (1,139.8) (32.8)
Cash Flows from Financing Activities    
Long-term debt borrowings 947.5 0.0
Short-term debt borrowings, net 84.5 2.0
Payment of dividends (42.2) (38.8)
Payment of dividends to noncontrolling interest (1.1) (1.4)
Repurchase of common shares 0.0 (52.6)
Debt issuance costs (7.6) 0.0
Other, net (6.1) (3.3)
Net cash (used) provided by financing activities 975.0 (94.1)
Effect of foreign currency exchange rate changes on cash and cash equivalents 6.5 7.4
Decrease in cash and cash equivalents (158.7) (56.6)
Cash and cash equivalents    
Beginning of period 375.0 437.6
End of period $ 216.3 $ 381.0