XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net income $ 523.0 $ 250.4
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 64.6 61.5
Amortization 78.6 59.2
Stock-based compensation, net of tax benefit 17.8 11.9
Deferred taxes (9.0) (3.1)
(Gain) loss on sale of assets (6.4) 0.3
Gain on sale of discontinued operation, net of tax (251.0) 0.0
Other operating activities, net 0.4 6.3
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (207.2) (155.3)
Inventories (61.9) (45.9)
Prepaid expenses and other assets (0.9) 1.4
Accounts payable 12.6 61.3
Accrued expenses (66.2) 39.9
Deferred revenues 11.8 15.4
Other long-term liabilities (3.6) (3.7)
Net cash provided by operating activities 102.6 299.6
Investing activities:    
Proceeds from sale of discontinued operation 758.0 0.0
Capital expenditures (96.1) (105.8)
Acquisitions, net of cash acquired (19.5) (280.0)
Other investing activities, net 11.4 0.2
Net cash provided by (used in) investing activities 653.8 (385.6)
Financing activities:    
Proceeds from revolving credit facility 0.0 491.0
Repayments of revolving credit facility 0.0 (306.0)
Repurchases of common stock (295.4) (266.4)
Dividends paid (69.7) (69.0)
Withholding tax paid related to stock-based compensation (9.7) (8.2)
Proceeds from exercise of stock options 22.3 4.1
Net cash used in financing activities (352.5) (154.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents (0.4) 2.8
Change in cash and cash equivalents 403.5 (237.7)
Less: change in cash and cash equivalents of discontinued operations (1.3) (1.6)
Cash and cash equivalents at beginning of period 378.3 385.0
Cash and cash equivalents at beginning of period $ 780.5 $ 145.7