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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities From Continuing Operations:    
Net income $ 553.6 $ 389.8
Income from discontinued operations, net of tax 0.0 0.6
Income from continuing operations 553.6 389.2
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Amortization of intangible assets 274.3 263.6
Depreciation 67.2 64.4
Non-cash restructuring charges 2.1 6.0
Stock-based compensation expense 35.2 62.3
Loss on equity method investments 1.2 2.5
Foreign currency transaction losses (gains), net 1.0 (12.3)
Non-cash adjustments to carrying value of LIFO inventories 14.0 33.0
Loss on extinguishment of debt 13.5 1.1
Other non-cash adjustments 7.4 2.0
Changes in assets and liabilities:    
Receivables (62.2) (160.1)
Inventories 10.0 (260.2)
Accounts payable (140.8) 76.4
Accrued liabilities 82.1 90.2
Other assets and liabilities, net (62.6) (47.5)
Net cash provided by operating activities from continuing operations 796.0 510.6
Cash Flows From Investing Activities From Continuing Operations:    
Capital expenditures (75.8) (61.1)
Net cash paid in acquisitions (923.8) (62.5)
Disposals of property, plant and equipment 7.6 0.0
Other investing 0.3 4.1
Net cash used in investing activities from continuing operations (991.7) (119.5)
Cash Flows From Financing Activities From Continuing Operations:    
Principal payments on long-term debt (1,510.8) (647.1)
Proceeds from long-term debt 1,490.4 0.0
Purchases of treasury stock (132.9) (257.8)
Cash dividends on common shares (24.3) (24.3)
Proceeds from stock option exercises 21.9 14.7
Payments of interest rate cap premiums 0.0 (13.4)
Payments of deferred and contingent acquisition consideration (17.4) (4.1)
Payments of debt issuance costs (17.3) 0.0
Other financing (3.4) (2.8)
Net cash used in financing activities from continuing operations (193.8) (934.8)
Cash Flows From Discontinued Operations:    
Net cash used in operating activities 0.0 (5.0)
Net cash provided by investing activities 0.0 4.4
Net cash used in discontinued operations 0.0 (0.6)
Effect of exchange rate changes on cash and cash equivalents (26.0) (105.8)
Net decrease in cash and cash equivalents (415.5) (650.1)
Cash and cash equivalents, beginning of period 1,613.0 2,109.6
Cash and cash equivalents, end of period 1,197.5 1,459.5
Supplemental Cash Flow Information    
Cash paid for income taxes, net of refunds 196.6 117.1
Cash paid for interest, net of interest rate derivative settlements $ 84.1 $ 64.2