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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows provided by (used in) operating activities:    
Net earnings $ 19.5 $ 565.5
Adjustments to reconcile net earnings to cash provided by operating activities:    
Depreciation and amortization 428.1 283.2
Share-based compensation 34.7 37.0
Non-cash Biomet merger consideration compensation expense 164.1  
Income tax benefit from stock option exercises 77.7 32.7
Excess income tax benefit from stock option exercises (10.3) (9.7)
Inventory step-up 137.1 5.0
Gain on divestiture of assets (8.9)  
Changes in operating assets and liabilities, net of effect of acquisitions:    
Income taxes 29.9 (140.2)
Receivables 29.4 (42.3)
Inventories (196.5) (132.7)
Accounts payable and accrued expenses (251.5) (2.9)
Other assets and liabilities (23.7) 103.0
Net cash provided by operating activities 429.6 698.6
Cash flows provided by (used in) investing activities:    
Additions to instruments (186.0) (162.9)
Additions to other property, plant and equipment (118.6) (95.7)
Purchases of investments (179.0) (1,150.1)
Sales of investments 578.8 919.4
Proceeds from divestiture of assets 57.9  
Biomet acquisition, net of acquired cash (7,812.9)  
Investments in other assets (19.6) (8.8)
Net cash used in investing activities (7,679.4) (498.1)
Cash flows provided by (used in) financing activities:    
Proceeds from senior notes 7,628.2  
Proceeds from term loan 3,000.0  
Redemption of senior notes (2,740.0)  
Payments on term loan (150.0)  
Net proceeds under revolving credit facilities 0.8 1.4
Dividends paid to stockholders (112.3) (108.0)
Proceeds from employee stock compensation plans 77.0 254.5
Excess income tax benefit from stock option exercises 10.3 9.7
Debt issuance costs (58.4) (64.1)
Repurchase of common stock   (400.5)
Net cash provided by (used in) financing activities 7,655.6 (307.0)
Effect of exchange rates on cash and cash equivalents (22.2) (6.8)
Increase (decrease) in cash and cash equivalents 383.6 (113.3)
Cash and cash equivalents, beginning of year 1,083.3 1,080.6
Cash and cash equivalents, end of period $ 1,466.9 $ 967.3