XML 34 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net earnings from continuing operations $ 614.2 $ 1,452.2 $ 268.1
Noncash items:      
Amortization 320.8 309.9 261.0
Depreciation 74.7 74.1 80.5
Stock-based compensation expense 77.4 62.6 52.5
Loss on extinguishment of debt 104.2 0.0 0.0
Unrealized gain on investment in Vontier Corporation 0.0 (1,119.2) 0.0
Gain from combination of business 0.0 0.0 (40.8)
Gain on sale of property 0.0 (5.3) 0.0
Gain on investment in Vontier Corporation (57.0) 0.0 0.0
Gain on litigation resolution (29.9) 0.0 0.0
Change in deferred income taxes (41.0) (97.6) (8.5)
Change in accounts receivable, net (84.1) 82.4 (204.9)
Change in inventories (53.6) (7.3) 93.5
Change in trade accounts payable 73.4 18.1 52.4
Change in prepaid expenses and other assets (34.5) 147.9 (71.3)
Change in accrued expenses and other liabilities 28.3 59.9 219.5
Total operating cash provided by continuing operations 992.9 977.7 702.0
Total operating cash (used in) provided by discontinued operations (31.8) 459.0 569.4
Net cash provided by operating activities 961.1 1,436.7 1,271.4
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash received (2,570.1) (40.4) (3,939.8)
Payments for additions to property, plant and equipment (50.0) (75.7) (74.5)
Proceeds from sale of property 4.5 5.3 0.0
Total investing cash used in continuing operations (2,615.6) (110.8) (4,014.3)
Total investing cash used in discontinued operations 0.0 (37.6) (40.3)
Net cash used in investing activities (2,615.6) (148.4) (4,054.6)
Cash flows from financing activities:      
Net proceeds from (repayments of) commercial paper borrowings 364.9 (1,141.9) 494.8
Proceeds from borrowings (maturities greater than 90 days), net of $0.3 million and $8 million of issuance costs in 2021 and 2020, respectively 999.8 741.7 2,913.2
Repayment of borrowings (maturities greater than 90 days) (611.1) (1,730.8) (455.3)
Payment of common stock cash dividend to shareholders (97.7) (94.4) (93.8)
Payment of mandatory convertible preferred stock cash dividend to shareholders (34.5) (69.0) (69.0)
Net cash consideration received from Vontier Separation 0.0 1,598.0 0.0
All other financing activities 30.6 20.7 23.2
Total financing cash (used in) provided by continuing operations 652.0 (675.7) 2,813.1
Total financing cash used in discontinued operations 0.0 (20.4) (10.2)
Net cash (used in) provided by financing activities 652.0 (696.1) 2,802.9
Effect of exchange rate changes on cash and equivalents (3.0) 27.4 7.1
Net change in cash and equivalents (1,005.5) 619.6 26.8
Beginning balance of cash and equivalents 1,824.8 1,205.2 1,178.4
Ending balance of cash and equivalents 819.3 1,824.8 1,205.2
Supplemental disclosure:      
Transfer of noncash net liabilities to Vontier Corporation $ 0.0 $ 147.4 $ 0.0