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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES        
Net income $ 976.7 $ 953.8 $ 1,925.8 $ 1,692.6
Adjustments to reconcile net earnings to net cash provided from operating activities:        
Depreciation, amortization and depletion 206.2 209.6 430.0 418.6
Equity earnings of affiliate, net of dividends received (5.8) (0.6) (8.9) (6.4)
Loss (gain) on foreign currency transaction effect 3.8 (8.1) 17.8 (4.3)
Provision for deferred income taxes 25.0 4.0 53.2 23.2
Other, net 8.7 5.5 23.1 11.1
Change in operating assets and liabilities:        
Increase in accounts receivable (9.6) (328.3) (368.1) (481.2)
(Increase) decrease in inventories (45.1) (16.7) 40.2 (24.9)
(Decrease) increase in accounts payable and accrued liabilities (121.2) (145.6) (394.9) 6.2
(Increase) decrease in other operating assets and liabilities (61.9) 288.5 (19.9) (13.1)
Net cash provided by operating activities 976.8 962.1 1,698.2 1,621.8
INVESTING ACTIVITIES        
Capital expenditures (235.7) (331.8) (553.5) (545.6)
Proceeds from sale (purchase) of short-term investments, net (457.3) 0.1 (430.1) 270.1
Net cash used in investing activities (692.9) (331.7) (983.6) (275.5)
FINANCING ACTIVITIES        
Repayments of debt (500.0)   (500.0)  
Proceeds from issuance of debt     993.8  
Payments of debt issuance costs     (6.4)  
Cash dividends paid to common stockholders (557.4)   (1,110.7) (618.5)
Other, net (3.0)   (4.2) (1.6)
Net cash used in financing activities (1,060.4)   (627.5) (620.1)
Effect of exchange rate changes on cash and cash equivalents (4.9) (7.3) (10.2) (2.4)
(Decrease) increase in cash and cash equivalents (781.4) 623.1 76.8 723.8
Cash and cash equivalents, at beginning of period 4,116.3 1,252.2 3,258.1 1,151.5
Cash and cash equivalents, at end of period $ 3,334.9 $ 1,875.3 $ 3,334.9 $ 1,875.3