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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities      
Net Income $ 846.3 $ 785.1 $ 608.5
Income from discontinued operations, net of tax 0.0 0.0 15.2
Income from continuing operations 846.3 785.1 593.3
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:      
Amortization of intangible assets 373.0 367.5 347.6
Depreciation 109.0 91.6 85.2
Impairment of other intangible assets 13.9 0.0 0.0
Non-cash restructuring charges 1.6 2.7 6.0
Stock-based compensation expense 58.8 51.9 78.9
Loss (income) on equity method investments 24.0 6.0 (0.7)
Foreign currency transaction losses (gains), net 3.2 5.1 (5.9)
Non-cash adjustments to carrying value of LIFO inventories 6.7 12.0 36.1
Loss on extinguishment of debt 3.0 13.5 1.1
Loss on sale of asbestos-related assets and liabilities 33.7 0.0 0.0
Deferred income taxes (33.1) (76.9) (85.8)
Other non-cash adjustments 7.7 8.3 7.0
Changes in assets and liabilities:      
Receivables (45.1) (48.6) (195.2)
Inventories 39.8 117.3 (225.6)
Accounts payable 13.3 (23.9) 120.4
Accrued liabilities (34.5) 94.8 101.2
Other assets and liabilities, net (24.6) (29.0) 1.8
Net cash provided by operating activities from continuing operations 1,396.7 1,377.4 865.4
Cash Flows From Investing Activities      
Capital expenditures (149.1) (105.4) (94.6)
Net cash paid in acquisitions (2,958.7) (963.0) (246.8)
Disposals of property, plant and equipment 6.1 7.6 0.0
Other investing (6.0) 0.3 4.1
Net cash used in investing activities from continuing operations (3,107.7) (1,060.5) (337.3)
Cash Flows From Financing Activities      
Principal payments on long-term debt (1,242.7) (1,518.0) (655.6)
Proceeds from long-term debt 3,296.9 1,490.4 0.0
Purchases of treasury stock (260.7) (263.0) (261.1)
Cash dividends on common stock (32.3) (32.4) (32.4)
Proceeds from stock option exercises 32.2 30.3 19.3
Payments to settle cross-currency swaps (19.9) 0.0 0.0
Payments of interest rate cap premiums 0.0 0.0 (13.4)
Payments of deferred and contingent acquisition consideration (23.4) (17.5) (4.6)
Payments of debt issuance costs (32.3) (18.5) 0.0
Other financing (10.3) (8.8) (6.2)
Net cash (used in) provided by financing activities from continuing operations 1,707.5 (337.5) (954.0)
Cash Flows Used In Discontinued Operations      
Net cash used in operating activities 0.0 0.0 (5.1)
Net cash provided by investing activities 0.0 0.0 4.4
Net cash used in discontinued operations 0.0 0.0 (0.7)
Effect of exchange rate changes on cash and cash equivalents (50.8) 3.1 (70.0)
Net decrease in cash and cash equivalents (54.3) (17.5) (496.6)
Cash and cash equivalents, beginning of year 1,595.5 1,613.0 2,109.6
Cash and cash equivalents, end of year 1,541.2 1,595.5 1,613.0
Supplemental Cash Flow Information      
Cash paid for income taxes, net of refunds 276.7 302.0 181.5
Cash paid for interest, net of interest rate derivative settlements $ 209.0 $ 100.5 $ 95.2