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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 1,155.0 $ 1,086.9 $ 925.0
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation of property and equipment 166.6 165.9 159.9
(Gain) loss on sale of property and equipment (4.3) 1.1 (1.1)
Bad debt expense (recoveries) 2.2 (1.8) 2.5
Deferred income taxes (10.7) (4.9) (13.7)
Stock-based compensation 7.3 7.2 5.6
Amortization of intangible assets 10.7 10.7 10.8
Changes in operating assets and liabilities:      
Trade accounts receivable (72.3) (119.8) (135.2)
Inventories 189.1 (198.0) (189.5)
Other current assets (6.4) 22.7 (47.8)
Accounts payable 8.4 21.9 26.1
Accrued expenses (0.6) (57.2) 26.2
Income taxes (9.4) 0.4 (1.8)
Other (2.9) 5.9 3.1
Net cash provided by operating activities 1,432.7 941.0 770.1
Cash flows from investing activities:      
Purchases of property and equipment (172.8) (173.8) (156.6)
Proceeds from sale of property and equipment 12.2 11.4 8.4
Other (0.6) (0.6) (0.3)
Net cash used in investing activities (161.2) (163.0) (148.5)
Cash flows from financing activities:      
Proceeds from debt obligations 880.0 1,795.0 525.0
Payments against debt obligations (1,175.0) (1,630.0) (540.0)
Proceeds from exercise of stock options 30.1 9.2 31.6
Purchases of common stock 0.0 (237.8) 0.0
Cash dividends paid (1,016.8) (711.3) (643.7)
Net cash used in financing activities (1,281.7) (774.9) (627.1)
Effect of exchange rate changes on cash and cash equivalents 1.4 (9.2) (4.0)
Net decrease in cash and cash equivalents (8.8) (6.1) (9.5)
Cash and cash equivalents at beginning of year 230.1 236.2 245.7
Cash and cash equivalents at end of year 221.3 230.1 236.2
Supplemental information:      
Cash paid for interest 12.2 13.3 9.9
Net cash paid for income taxes $ 383.0 $ 354.1 $ 294.0