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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net income $ 407.4 $ 366.1 $ 249.9
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisitions:      
Depreciation and amortization 151.0 148.4 98.2
Deferred income taxes 6.1 49.0 (14.3)
Stock-based compensation 16.4 24.2 22.3
Gain on disposition of business (21.7) 0.0 0.0
Multi-employer pension charge 8.5 0.0 0.0
Loss on extinguishment of debt 0.0 0.0 10.1
Gain on sale of assets (0.4) (4.0) (11.6)
Changes in assets and liabilities, net of acquisitions:      
Decrease (increase) in accounts receivable 46.2 (75.4) 3.9
Decrease (increase) in inventories 12.2 34.2 (90.3)
(Decrease) increase in current liabilities (36.2) 15.6 57.4
Changes in other assets and liabilities, net 0.9 (20.4) 50.7
Contributions to qualified defined benefit pension plans (10.4) (27.9) (1.7)
Other, net 11.6 7.3 4.4
NET CASH PROVIDED BY OPERATING ACTIVITIES 591.6 517.1 379.0
Cash Flows from Investing Activities      
Capital expenditures (93.9) (96.2) (79.7)
Acquisitions, net of cash acquired (70.8) (1,118.0) (184.1)
Proceeds from disposal of business, net of cash 33.4 0.0 0.0
Purchases of available-for-sale investments (14.1) (16.6) (20.9)
Proceeds from sales of available-for-sale investments 12.5 20.5 17.4
Proceeds from disposition of assets 3.1 6.8 18.4
Other, net 0.9 2.1 3.3
NET CASH USED IN INVESTING ACTIVITIES (128.9) (1,201.4) (245.6)
Cash Flows from Financing Activities      
Issuance of long-term debt 0.0 947.5 297.6
Payment of long-term debt (225.0) (168.8) (300.0)
Issuance of short-term debt 0.7 0.8 66.3
Payment of short-term debt (0.8) (38.0) (1.7)
Make whole payment for extinguishment of long-term debt 0.0 0.0 (9.9)
Debt issuance cost 0.0 (7.6) (3.0)
Payment of dividends (186.6) (172.3) (157.6)
Payment of dividends to noncontrolling interest (11.3) (3.9) (3.5)
Acquisition of common shares (35.0) (40.0) (92.5)
Other (13.0) (11.2) (10.0)
NET CASH PROVIDED (USED) IN FINANCING ACTIVITIES (471.0) 506.5 (214.3)
Effect of foreign currency exchange rate changes on cash and cash equivalents 1.3 (8.2) 18.3
Increase (Decrease) in cash and cash equivalents (7.0) (186.0) (62.6)
Cash and cash equivalents, beginning of year 189.0 375.0 437.6
Cash and cash equivalents, end of year $ 182.0 $ 189.0 $ 375.0