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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income $ 304.3 $ 276.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 111.1 112.8
Deferred income taxes (2.9) 22.2
Stock-based compensation 13.5 13.4
Gain on disposition of business (21.7) 0.0
Multi-employer pension charge 22.9 0.0
Changes in assets and liabilities, excluding effects of acquisitions:    
Increase in accounts receivable, net (66.7) (133.9)
Decrease (increase) in inventories, net (23.4) 17.8
Increase in accounts payable 30.6 48.1
Decrease in current liabilities (2.4) (10.2)
Changes in other assets and liabilities, net 15.7 (3.4)
Contribution to qualified defined benefit pension plans (0.3) (11.4)
Other, net 4.4 6.9
Net cash provided by operating activities 385.1 339.2
Cash Flows from Investing Activities    
Capital expenditures (72.6) (70.7)
Proceeds from disposal of business, net of cash 33.4 0.0
Acquisition of businesses, net of cash acquired (5.0) (1,118.0)
Purchases of available-for-sale investments (4.5) (16.6)
Proceeds from available-for-sale investments 10.4 17.5
Other, net 3.8 2.3
Net cash used in investing activities (34.5) (1,185.5)
Cash Flows from Financing Activities    
Long-term debt (repayments) borrowings, net (18.8) 835.0
Short-term debt (repayments) borrowings, net (26.6) 37.0
Payment of dividends (137.1) (126.5)
Payment of dividends to noncontrolling interest (11.1) (3.8)
Repurchase of common shares (35.0) (20.0)
Debt issuance costs 0.0 (7.6)
Other, net (9.1) (9.4)
Net cash (used) provided by financing activities (237.7) 704.7
Effect of foreign currency exchange rate changes on cash and cash equivalents (1.9) (4.6)
Increase (decrease) in cash and cash equivalents 111.0 (146.2)
Cash and cash equivalents    
Beginning of period 189.0 375.0
End of period $ 300.0 $ 228.8