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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 61.8 $ 68.5
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 19.6 18.4
Amortization 19.2 15.1
Stock-based compensation, net of tax benefit 3.2 2.8
Other operating activities, net 0.6 1.2
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (34.1) (1.3)
Inventories (33.8) (20.0)
Prepaid expenses and other assets 3.3 6.2
Accounts payable 31.2 27.1
Accrued expenses (46.6) (17.5)
Deferred revenues 7.8 5.5
Other long-term liabilities (0.3) 3.0
Net cash provided by operating activities 31.9 109.0
Investing activities    
Capital expenditures (30.4) (18.7)
Acquisitions, net of cash acquired (225.8) (8.1)
Net cash used in investing activities (256.2) (26.8)
Financing activities    
Dividends paid (22.7) (19.5)
Proceeds from revolving credit facility 50.0 0.0
Repayment of revolving credit facility (50.0) 0.0
Proceeds from exercise of stock options, net (5.4) 4.5
Repurchases of common stock 0.0 (28.5)
Net cash used in financing activities (28.1) (43.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents 1.1 1.1
Change in cash and cash equivalents (251.3) 39.8
Cash and cash equivalents    
Beginning of period 385.3 410.7
End of period $ 134.0 $ 450.5