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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net earnings from continuing operations $ 725.4 $ 918.3 $ 884.3
Noncash items:      
Depreciation 133.3 125.7 93.3
Amortization 292.9 135.1 65.0
Stock-based compensation expense 61.4 50.8 44.2
Gains from acquisition and combination of business (40.8) 0.0 (15.3)
Impairment charges on intangible assets 0.0 1.1 2.3
Gain on sale of property 0.0 0.0 (8.0)
Change in deferred income taxes 13.9 7.7 (61.0)
Change in accounts receivable, net (166.9) (105.9) (55.4)
Change in inventories 118.8 (73.4) 17.5
Change in trade accounts payable 53.7 76.2 17.7
Change in prepaid expenses and other assets (163.7) 63.3 (100.5)
Change in accrued expenses and other liabilities 256.9 2.4 136.0
Total operating cash provided by continuing operations 1,284.9 1,201.3 1,020.1
Total operating cash provided by (used in) discontinued operations (13.5) 143.1 156.3
Net cash provided by operating activities 1,271.4 1,344.4 1,176.4
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash received (3,943.9) (2,815.1) (1,556.6)
Payments for additions to property, plant and equipment (112.5) (112.3) (111.1)
Proceeds from sale of property 0.0 0.0 21.5
All other investing activities 1.8 (42.1) 1.5
Total investing cash used in continuing operations (4,054.6) (2,969.5) (1,644.7)
Total investing cash provided by (used in) discontinued operations 0.0 1,002.9 (25.0)
Net cash used in investing activities (4,054.6) (1,966.6) (1,669.7)
Cash flows from financing activities:      
Net proceeds from (repayments of) commercial paper borrowings 494.8 (266.1) 556.2
Proceeds from borrowings (maturities greater than 90 days), net of $24.3 million of issuance costs in 2019 2,913.2 1,750.0 125.9
Repayment of borrowings (maturities greater than 90 days) (455.3) (1,850.0) 0.0
Proceeds from issuance of mandatory convertible preferred stock, net of $43.0 million of issuance costs 0.0 1,337.4 0.0
Payment of common stock cash dividend to shareholders (93.8) (96.6) (97.2)
Payment of mandatory convertible preferred stock cash dividend to shareholders (69.0) (34.9) 0.0
All other financing activities 13.0 39.3 13.4
Total financing cash provided by continuing operations 2,802.9 879.1 598.3
Total financing cash provided by discontinued operations 0.0 0.0 1.4
Net cash provided by financing activities 2,802.9 879.1 599.7
Effect of exchange rate changes on cash and equivalents 7.1 (40.6) 52.5
Net change in cash and equivalents 26.8 216.3 158.9
Beginning balance of cash and equivalents 1,178.4 962.1 803.2
Ending balance of cash and equivalents $ 1,205.2 $ 1,178.4 $ 962.1