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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 609,200,000 $ 445,600,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale from previous dispositions 1,600,000 0
Income from equity method investments (6,100,000) (8,000,000.0)
Dividends from affiliates 2,500,000 0
Gain on sale from previous dispositions 0 63,200,000
Provision for credit losses 4,600,000 4,700,000
Unrealized (gains) losses, net on derivative contracts (6,700,000) 5,600,000
Stock-based compensation expense 20,100,000 23,500,000
Depreciation and amortization 69,600,000 62,000,000.0
Deferred income taxes (21,500,000) (24,900,000)
Pension expense 3,500,000 2,400,000
Pension contributions (9,100,000) (2,800,000)
Other items, net 0 (1,400,000)
Changes in assets and liabilities, net of effects of acquisitions and divestitures:    
Accounts and notes receivable (229,100,000) (142,500,000)
Inventories 9,100,000 (44,900,000)
Accounts payable 104,600,000 (10,900,000)
Accrued expenses 31,300,000 69,400,000
Income taxes payable and receivable, net 20,400,000 (6,700,000)
Leases, net 3,800,000 3,400,000
Other, net 8,700,000 (7,800,000)
Net cash provided by operating activities 613,300,000 429,900,000
Cash flows from investing activities:    
Proceeds from the disposal of property, plant and equipment 1,900,000 1,600,000
Purchases of property, plant and equipment (103,400,000) (125,000,000.0)
Purchases of property, plant and equipment 4,100,000 0
Acquisitions, net of cash 1,800,000 0
Purchases of investments (12,500,000) (1,100,000)
Net cash used in investing activities (108,100,000) (124,500,000)
Cash flows from financing activities:    
Commercial paper borrowings 424,100,000 0
Commercial paper payments (574,100,000) 0
Borrowings from debt arrangements 156,700,000 1,737,500,000
Payments on debt arrangements (190,200,000) (2,290,100,000)
Issuance of senior unsecured notes 0 500,000,000.0
Payments of deferred financing costs 0 (5,400,000)
Proceeds from employee stock purchases 3,300,000 2,900,000
Repurchases of common stock (12,900,000) 0
Repurchases of common stock to satisfy employee withholding tax obligations (15,000,000.0) (7,100,000)
Cash dividends paid (119,300,000) (153,400,000)
Net cash used in financing activities (327,400,000) (215,600,000)
Increase in cash and cash equivalents 177,800,000 89,800,000
Cash balances classified as assets held for sale 0 (7,600,000)
Effect of exchange rates on cash and cash equivalents 4,600,000 (2,800,000)
Cash and cash equivalents, beginning of period 60,700,000 52,600,000
Cash and cash equivalents, end of period 243,100,000 132,000,000.0
Supplemental disclosures of cash flow information:    
Interest paid 44,700,000 42,000,000.0
Income taxes paid (net of refunds) $ 145,500,000 $ 151,300,000