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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income [1] $ 561.6 $ 457.5 $ 469.0
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 383.0 319.1 305.4
Deferred income taxes (24.8) (24.1) (0.8)
Undistributed income from equity method investments, net of dividends 1.0 (0.4) (3.4)
Net change in:      
Receivables and other assets, gross (292.3) (173.0) (143.1)
Inventories, gross (72.6) (92.7) (69.8)
Accounts payable and accrued expenses 271.2 230.4 106.9
Income taxes 15.9 9.2 3.3
Other, net 25.4 24.5 45.2
Net cash provided by operating activities 868.4 750.5 712.7
Investing activities      
Expenditures for property, plant and equipment (506.8) (465.8) (456.0)
Proceeds from sale of property, plant and equipment 8.2 16.2 2.6
Acquisition of intangible assets (1.1) (24.9) (1.4)
Acquisition of businesses and interest in affiliates, net of cash acquired (226.3) (103.1)  
Net proceeds from divestitures     2.4
Other   (13.5) (0.6)
Net cash used in investing activities (726.0) (591.1) (453.0)
Financing activities      
Net decrease in short-term debt (2.7) (29.0) (252.7)
Issuance of long-term debt     1,263.0
Repayments and other changes in long-term debt   (12.2) (1.2)
Dividends paid to non-controlling interest (1.7)   (4.9)
Dividends paid (202.8) (195.7) (194.9)
Shares repurchased   (104.4) (616.0)
Common stock options exercised 5.9 20.3 32.5
Capital contribution from non-controlling interest   1.6  
Other, net 1.1 0.5 0.5
Net cash (used in) provided by financing activities (200.2) (318.9) 226.3
Effect of exchange rate changes on cash and cash equivalents (49.0) (36.0) (75.3)
(Decrease) / Increase in cash and cash equivalents (106.8) (195.5) 410.7
Cash and cash equivalents at beginning of year 1,333.5 1,529.0 1,118.3
Cash and cash equivalents at end of year $ 1,226.7 $ 1,333.5 $ 1,529.0
[1] See Note 13 for further details - includes tax effects where applicable.