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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 806.9 $ 590.1 $ 497.1
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on sale from previous dispositions 1.5 (14.1) 0.0
Impairment on net assets held for sale 0.0 63.2 0.0
Income from equity method investments (7.9) (8.5) (5.1)
Dividends from affiliates 3.0 0.5 1.7
Restructuring charges, net of cash paid 0.0 2.6 1.0
Provision for credit losses 8.0 9.8 6.9
Unrealized (gains) losses, net on derivative contracts (2.3) 6.0 1.7
Stock-based compensation expense 28.5 30.1 21.8
Depreciation and amortization 95.1 86.0 77.9
Deferred income taxes (24.5) (26.0) (15.2)
Pension expense 4.2 3.2 6.0
Pension contributions (9.3) (15.0) (22.5)
Other items, net 0.0 (0.5) (1.1)
Changes in assets and liabilities, net of effects of acquisitions and divestitures:      
Accounts and notes receivable (80.4) (32.7) (112.4)
Inventories (10.1) 11.1 (249.3)
Other current assets (8.3) 7.1 (7.3)
Accounts payable 115.0 (29.2) 28.2
Accrued expenses 30.4 65.0 13.7
Income taxes payable and receivable, net (21.9) (24.1) 56.4
Leases, net 5.5 3.1 1.7
Other, net 12.3 8.5 1.1
Net cash provided by operating activities 945.7 736.2 302.3
Cash flows from investing activities:      
Proceeds from the disposal of property, plant and equipment 2.5 2.1 1.6
Purchases of property, plant and equipment (163.6) (250.2) (101.1)
Acquisitions, net of cash 1.8 (94.9) 0.0
Net (disbursements) proceeds from previous disposition (7.7) 23.2 0.0
(Purchases of) proceeds from investments and other (7.4) 0.1 (3.5)
Net cash used in investing activities (174.4) (319.7) (103.0)
Cash flows from financing activities:      
Commercial paper borrowings 424.1 150.0 0.0
Commercial paper payments (574.1) 0.0 0.0
Borrowings from debt arrangements 156.7 1,911.0 2,944.5
Payments on debt arrangements (194.3) (2,797.4) (2,671.9)
Issuance of senior unsecured notes 0.0 500.0 0.0
Payments of deferred financing costs 0.0 (5.4) 0.0
Proceeds from employee stock purchases 4.5 3.9 3.6
Repurchases of common stock (53.6) 0.0 (300.0)
Repurchases of common stock to satisfy employee withholding tax obligations (21.6) (14.9) (8.3)
Cash dividends paid (160.3) (153.4) (142.0)
Net cash used in financing activities (418.6) (406.2) (174.1)
Increase in cash and cash equivalents 352.7 10.3 25.2
Effect of exchange rates on cash and cash equivalents 1.7 (2.2) (3.6)
Cash and cash equivalents, beginning of year 60.7 52.6 31.0
Cash and cash equivalents, end of year 415.1 60.7 52.6
Cash paid during the period for:      
Interest paid 45.2 50.2 35.4
Income taxes paid (net of refunds) $ 231.9 $ 197.8 $ 77.2