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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Cash flows from operating activities:      
Net income $ 531.4 $ 135.4 $ 294.5
Adjustments to reconcile net income to net cash provided by operating activities, net of acquired businesses:      
Depreciation and amortization 213.4 193.1 174.1
Litigation charges, net 204.9 588.0 268.9
Restructuring and productivity initiative costs, net of payments 5.0 22.5 9.8
Asset impairments 1.2 4.5 6.8
Settlement of pre-existing relationship related to Medicon 0.0 49.6 0.0
Gain on previously held ownership share of Medicon 0.0 (25.5) 0.0
Gain on sale of investment 0.0 0.0 (7.1)
Acquired in-process research and development 0.0 0.0 2.6
Deferred income taxes (65.4) (45.1) (26.9)
Share-based compensation 90.0 81.8 71.4
Inventory reserves and provision for doubtful accounts 24.0 27.4 23.3
Other items (1.7) 4.2 4.2
Changes in assets and liabilities, net of acquired businesses:      
Accounts receivable (25.1) (18.0) 21.3
Inventories (83.7) (33.1) (53.9)
Current liabilities (318.8) (217.3) (35.0)
Taxes (12.9) 22.6 (105.5)
Other, net (15.7) 8.0 11.5
Net cash provided by operating activities 546.6 798.1 660.0
Cash flows from investing activities:      
Capital expenditures (100.3) (102.9) (126.6)
Change in restricted cash (121.1) (31.2) (31.2)
Payments made for purchases of businesses, net of cash acquired (202.8) (97.4) 0.0
Payments made for intangibles (0.9) (0.9) (13.3)
Proceeds from sale of financial instruments and other investments 0.0 21.0 7.1
Other 1.2 0.0 0.7
Net cash used in investing activities (423.9) (211.4) (163.3)
Cash flows from financing activities:      
Change in short-term borrowings, net 0.0 (78.0) 78.0
Proceeds from issuance of long-term debt, net 495.6 0.0 0.0
Payments of long-term debt (250.0) (4.0) 0.0
Proceeds from exercises under share-based compensation plans, net 50.9 58.7 98.4
Excess tax benefit relating to share-based compensation plans 41.4 44.2 35.2
Purchases of common stock (406.9) (498.7) (659.6)
Dividends paid (74.6) (69.4) (66.2)
Payments of contingent and deferred consideration (6.2) (6.9) (70.2)
Net cash used in financing activities (149.8) (554.1) (584.4)
Effect of exchange rate changes on cash and cash equivalents (18.4) (42.2) (19.1)
Decrease in cash and cash equivalents during the year (45.5) (9.6) (106.8)
Balance at January 1 950.5 960.1 1,066.9
Balance at December 31 905.0 950.5 960.1
Cash paid for:      
Interest 50.2 42.8 42.7
Income taxes 169.2 192.3 248.5
Non-cash transactions:      
Dividends declared, not paid 19.3 18.0 16.8
Purchases of businesses and related costs $ 17.1 $ 69.0 $ 3.0