XML 19 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 375.0 $ 419.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 486.9 168.9
Share based compensation 52.7 18.3
Amortization of deferred financing fees 3.2 20.0
Expense related to the unwind of inventory fair value adjustments 480.4 12.8
Change in deferred taxes (135.5) (10.1)
Change in fair value of contingent consideration (3.5) 11.4
Other, net 26.8 (14.5)
Changes in operating assets and liabilities:    
Increase in accounts receivable (35.3) (100.9)
Increase in sales deduction accrual 17.5 73.6
Increase in inventory (151.8) (32.2)
Decrease/(increase) in prepayments and other assets 14.2 (22.2)
Decrease in accounts payable and other liabilities (671.5) (154.6)
Net cash provided by operating activities 459.1 389.5
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of PP&E and non-current investments (212.5) (51.6)
Purchases of businesses, net of cash acquired 0.0 (5,692.8)
Movements in restricted cash (8.5) 64.8
Other, net 1.2 5.5
Net cash used in investing activities (219.8) (5,674.1)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving line of credit, long term and short term borrowings 1,401.9 6,305.0
Repayment of revolving line of credit, long term and short term borrowings (1,825.7) (995.1)
Debt issuance costs 0.0 (93.8)
Proceeds from exercise of options 22.1 0.1
Other, net (0.1) 0.9
Net cash (used in)/provided by financing activities (401.8) 5,217.1
Effect of foreign exchange rate changes on cash and cash equivalents 2.7 1.0
Net decrease in cash and cash equivalents (159.8) (66.5)
Cash and cash equivalents at beginning of period 528.8 135.5
Cash and cash equivalents at end of period 369.0 69.0
Supplemental information:    
Interest paid 108.2 13.9
Income taxes paid, net $ 23.1 $ 89.6