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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net earnings $ 297.0 $ 145.1
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 87.4 88.8
Amortization of intangibles and supply agreements 53.4 52.2
Long-lived asset impairment 0.0 4.0
Goodwill impairment 0.0 25.4
(Decrease) increase in provision for losses on accounts and notes receivable (2.3) 19.4
Writedown of inventories 10.8 9.4
Net gain from sales of assets and businesses (29.5) (2.1)
Deferred income tax expense (benefit) 0.8 (12.5)
Stock-based compensation 28.4 20.6
Other, net 2.3 13.1
Increases/decreases in, excluding effects from acquisitions and divestitures:    
Accounts and other receivables (124.6) (69.8)
Inventories (278.3) 36.3
Other current assets (10.8) 6.4
Accounts payable 55.9 38.1
Accrued expenses and other current liabilities (10.1) 9.4
NET CASH PROVIDED BY OPERATING ACTIVITIES 80.4 383.8
INVESTING ACTIVITIES    
Additions to property, plant and equipment (75.8) (52.3)
Purchases of companies, net of cash acquired (152.3) 0.0
Proceeds from sales of assets and businesses 38.6 6.0
Other, net 0.6 7.7
NET CASH USED FOR INVESTING ACTIVITIES (188.9) (38.6)
FINANCING ACTIVITIES    
Payments on long-term debt (306.6) (97.5)
Change in commercial paper and short-term debt 471.5 (67.2)
Dividends paid (162.3) (158.5)
Issuances of common stock 3.1 1.1
Purchases of common stock (9.7) (10.1)
Additional consideration paid on prior year acquisitions 0.0 (8.4)
Other, net (1.2) (4.4)
NET CASH USED FOR FINANCING ACTIVITIES (5.2) (345.0)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (0.5) (2.8)
DECREASE IN CASH AND CASH EQUIVALENTS (114.2) (2.6)
CASH AND CASH EQUIVALENTS—January 1, 348.9 247.6
CASH AND CASH EQUIVALENTS—September 30, $ 234.7 $ 245.0