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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 404.3 $ 255.6
Loss from discontinued operations, net of tax 3.1 1.7
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations    
Equity income of unconsolidated subsidiaries (0.2) (1.0)
Depreciation 38.3 34.4
Amortization 19.4 21.5
Deferred income taxes (4.8) 8.5
(Gain) loss on sale of businesses (1.4) 0.1
Share-based compensation 20.8 15.2
Changes in assets and liabilities, net of effects of business acquisitions    
Accounts receivable (78.2) 147.3
Inventories (76.1) (17.7)
Other current assets (9.6) (13.4)
Accounts payable 79.3 (46.7)
Employee compensation and benefits 30.7 35.0
Other current liabilities 118.2 61.1
Other non-current assets and liabilities (3.4) (0.8)
Net cash provided by operating activities of continuing operations 540.4 500.8
Net cash used for operating activities of discontinued operations (0.3) (0.5)
Net cash provided by operating activities 540.1 500.3
Investing activities    
Capital expenditures (38.6) (44.4)
Proceeds from sale of property and equipment 3.7 0.1
Proceeds from the sale of businesses, net 1.4 0.0
Acquisitions, net of cash acquired (83.6) (28.5)
Other 2.7 2.2
Net cash used for investing activities (114.4) (70.6)
Financing activities    
Net borrowings of commercial paper and revolving long-term debt (36.1) (151.3)
Repayments of long-term debt (103.8) (74.0)
Shares issued to employees, net of shares withheld 12.7 21.1
Repurchases of ordinary shares (100.0) (115.2)
Dividends paid (99.9) (95.4)
Payments upon the maturity of cross currency swaps (14.7) 0.0
Net cash used for financing activities (341.8) (414.8)
Effect of exchange rate changes on cash and cash equivalents 7.2 (14.8)
Change in cash and cash equivalents 91.1 0.1
Cash and cash equivalents, beginning of period 82.1 82.5
Cash and cash equivalents, end of period $ 173.2 $ 82.6