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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Statement of Cash Flows [Abstract]      
Net earnings available to common stockholders $ 814.9 $ 486.4 $ 335.4 [1]
Adjustments to reconcile net earnings to net cash provided by operating activities      
Depreciation and amortization 149.3 214.0 213.3 [1]
Share-based incentive compensation 44.9 59.9 61.2 [1]
Profit sharing expense 23.2 24.6 36.0 [1]
Loss on debt redemption and refinancing activities 0.0 0.1 110.0 [1]
Remeasurement loss related to Venezuelan subsidiaries 0.0 3.4 33.1 [1],[2]
Charges related to Venezuelan subsidiaries 0.0 46.0 0.0 [1]
Provisions for bad debt 2.9 4.3 5.8 [1]
Provisions for inventory obsolescence 3.6 6.4 (0.2) [1]
Deferred taxes, net 121.0 (61.7) (22.6) [1]
Excess tax benefit from common stock issued in the Settlement agreement [1] 0.0 0.0 (46.2)
Net (gain) loss on sale of businesses (641.2) 1.9 (24.6) [1]
Foreign currency gains (losses) 29.9 (4.9) 9.8 [1],[2]
Other non-cash items 11.1 (2.6) (8.2) [1]
Changes in operating assets and liabilities:      
Trade receivables, net (81.4) (33.9) 36.7 [1],[2]
Inventories (55.4) (17.1) (38.3) [1],[2]
Accounts payable 154.1 228.0 81.4 [1],[2]
Income tax receivable/payable (207.1) 7.3 32.2 [1]
Settlement agreement and related items [1] 0.0 0.0 235.2
Other assets and liabilities 54.6 (55.2) (67.9) [1],[2]
Net cash provided by operating activities 424.4 906.9 982.1 [1]
Cash flows from investing activities:      
Capital expenditures (183.8) (275.7) (184.0) [1]
Proceeds from sale of business 1.0 7.8 94.6 [1],[2]
Businesses acquired in purchase transactions, net of cash acquired (119.2) (5.8) (27.5) [1],[2]
Proceeds from sales of property, equipment and other assets 1.7 4.9 32.9 [1],[2]
Loss from settlement of cross currency swaps (61.8) 0.0 0.0 [1]
Impact of sale of Diversey 2,184.4 0.0 0.0 [1],[2]
Settlement of foreign currency forward contracts (8.7) (46.0) 24.0 [1],[2]
Net cash provided by (used in) investing activities 1,813.6 (314.8) (60.0) [1],[2]
Cash flows from financing activities:      
Net (payments) proceeds from short-term borrowings (93.7) (154.2) 111.2 [1],[2]
Cash used as collateral on borrowing arrangements 25.4 3.6 (20.5) [1]
Proceeds from cross currency swap 17.4 0.0 0.0 [1]
Proceeds from long-term debt 0.0 0.0 855.0 [1]
Payments of long-term debt [2] (369.5) (27.1) (754.3) [1]
Excess tax benefit from common stock issued in the Settlement agreement [1] 0.0 0.0 46.2
Dividends paid on common stock (119.7) (121.6) (106.8) [1]
Repurchases of common stock [3] (1,302.1) (217.0) (802.0) [1]
Payments for debt issuance costs 0.0 0.0 (8.8) [1]
Payments for debt extinguishment costs 0.0 (0.1) (99.4) [1]
Acquisition of common stock for tax withholding (22.1) (30.7) (9.3) [1]
Other financing activities 0.0 6.2 0.0 [1]
Net cash used in financing activities 1,864.3 540.9 788.7 [1]
Effect of foreign currency exchange rate changes on cash and cash equivalents (113.4) (39.2) (60.4) [1]
Net change during the period 260.3 12.0 73.0 [1]
Balance, beginning of period 333.7 321.7 [1] 248.7 [1]
Balance, end of period 594.0 333.7 321.7 [1]
Supplemental Cash Flow Information:      
Interest payments, net of amounts capitalized 210.8 215.1 229.7 [1]
Income tax payments 161.7 125.8 101.6 [1]
Payments related to sale of Diversey 180.8 0.0 0.0
SARs payments (less amounts included in restructuring payments) 0.0 1.9 20.7 [1]
Restructuring payments including associated costs 49.3 66.1 98.3 [1]
Non-cash items:      
Transfers of shares of our common stock from treasury for our 2016, 2015 and 2014 profit-sharing plan contributions $ 22.3 $ 37.6 $ 36.7 [1]
[1] During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. See Note 16 “Income Taxes” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[2] Payments of borrowings included in financing activities excludes amounts which were paid using cash proceeds from the sale of Diversey. As a result, $755.2 million of payments of borrowings is included within investing activities for a total payment of borrowings of $1.1 billion through the year ended December 31, 2017.
[3] The Company entered into an accelerated share repurchase agreement with a third-party financial institution to repurchase $400.0 million of the Company’s common stock. The full amount was paid as of December 31, 2017; however, only $320.0 million was used to repurchase shares at that point in time. The ASR program concluded in February 2018.