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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows provided by (used in) operating activities:      
Net earnings $ 146.2 $ 719.2 $ 778.6
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 712.4 375.8 358.5
Biomet merger consideration compensation expense 90.4 0.0 0.0
Share-based compensation 46.4 49.4 48.5
Income tax benefit from stock option exercises 81.4 37.2 38.4
Excess income tax benefit from stock option exercises (11.8) (11.1) (8.6)
Inventory step-up 317.8 5.4 8.0
Gain on divestiture of assets (19.0)    
Deferred income tax provision (164.0) (90.5) (126.2)
Changes in operating assets and liabilities, net of acquired assets and liabilities      
Income taxes 163.3 (50.4) 104.4
Receivables (56.1) (40.4) (74.3)
Inventories (205.4) (164.6) (148.1)
Accounts payable and accrued liabilities (263.1) 108.4 33.6
Other assets and liabilities (21.8) 114.4 (49.7)
Net cash provided by operating activities 816.7 1,052.8 963.1
Cash flows provided by (used in) investing activities:      
Additions to instruments (266.4) (197.4) (192.9)
Additions to other property, plant and equipment (167.7) (144.9) (100.0)
Purchases of investments (214.8) (1,350.9) (732.7)
Sales of investments 802.9 1,282.2 830.8
Proceeds from divestiture of assets 69.9    
Biomet acquistion, net of acquired cash (7,760.1)    
Business combination investments   (54.3) (74.2)
Investments in other assets (21.7) (4.1) (13.5)
Net cash used in investing activities (7,557.9) (469.4) (282.5)
Cash flows provided by (used in) financing activities:      
Proceeds from (payments on) senior notes 7,628.2 (250.0)  
Proceeds from term loan 3,000.0    
Redemption of senior notes (2,740.0)    
Payments on term loan (500.0)    
Net proceeds (payments) under revolving credit facilities 0.1 2.3 (97.5)
Dividends paid to stockholders (157.1) (145.5) (132.4)
Proceeds from employee stock compensation plans 105.2 284.7 474.8
Excess income tax benefit from stock option exercises 11.8 11.1 8.6
Debt issuance costs (58.4) (64.1)  
Repurchase of common stock (150.0) (400.9) (720.8)
Net cash provided by (used in) financing activities 7,139.8 (562.4) (467.3)
Effect of exchange rates on cash and cash equivalents (22.6) (18.3) (17.0)
Increase in cash and cash equivalents 376.0 2.7 196.3
Cash and cash equivalents, beginning of year 1,083.3 1,080.6 884.3
Cash and cash equivalents, end of period $ 1,459.3 $ 1,083.3 $ 1,080.6