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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 389.6 $ 402.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 91.3 92.8
Stock-based compensation expense 23.9 24.7
Amortization of Debt Issuance Costs and Discounts 7.4 8.1
Deferred income taxes 16.2 1.3
Other operating activities, net 1.0 2.9
Changes in assets and liabilities    
Increase (Decrease) in Accounts Receivable 162.9 716.8
Increase (Decrease) in Accounts and Other Receivables 55.7 (15.3)
Inventories, net (73.9) (530.8)
Increase (Decrease) in Other Operating Assets (56.9) (80.7)
Accounts payable (78.6) 534.3
Accrued payroll and benefit costs (134.1) (115.8)
Other current and noncurrent liabilities (16.5) 88.1
Net cash provided by operating activities 62.2 (304.5)
Investing Activities:    
Capital expenditures (44.3) (31.6)
Other investing activities 0.6 0.6
Net cash used in investing activities (43.7) (31.0)
Financing Activities:    
Proceeds from (Repayments of) Short-term Debt (3.6) 2.2
Repayments of Senior Debt 58.6 0.0
Proceeds from issuance of long-term debt 1,596.2 1,746.3
Repayments of Other Long-term Debt 1,429.8 1,354.0
Payments for Repurchase of Common Stock (54.2) (17.2)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock 28.7 28.7
Payments of Ordinary Dividends, Common Stock (38.4) 0.0
Other financing activities, net (3.3) (8.1)
Net cash used in financing activities (20.4) 340.5
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations 3.6 19.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 1.7 24.2
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents 529.0 236.8
Supplemental Cash Flow Information [Abstract]    
Interest Paid, Excluding Capitalized Interest, Operating Activities 187.7 119.3
Income Taxes Paid 108.3 155.0
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 120.8 $ 117.9