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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income (loss) including noncontrolling interests $ (186.5) $ 1,008.5 $ (945.7)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation and amortization 684.8 786.1 922.0
Amortization of debt issuance costs and discounts 7.7 6.7 8.1
Share-based compensation 33.6 32.1 24.2
Goodwill impairment 845.0 0.0 1,484.3
(Gain) loss on sale or impairment of properties and other assets, net 18.6 9.1 69.2
Unrealized (gain) loss on foreign currency fluctuations and derivative instruments, net 236.4 (233.8) (111.4)
Equity income (loss) (4.7) 0.0 0.0
Income tax (benefit) expense 124.0 230.5 301.8
Income tax (paid) received (76.6) (227.0) (127.0)
Interest expense, excluding amortization of debt issuance costs and discounts 242.9 253.6 266.0
Interest paid (240.0) (256.2) (271.9)
Change in current assets and liabilities (net of impact of business combinations) and other      
Receivables (108.5) (137.6) 160.8
Inventories (64.6) (143.9) (46.2)
Payables and other current liabilities (16.1) 285.5 (50.1)
Other assets and other liabilities 6.0 (40.1) 11.6
Net cash provided by (used in) operating activities 1,502.0 1,573.5 1,695.7
Cash flows from investing activities      
Additions to properties (661.4) (522.6) (574.8)
Proceeds from sales of properties and other assets 32.2 26.0 158.8
Other 4.1 (13.3) 2.4
Net cash provided by (used in) investing activities (625.1) (509.9) (413.6)
Cash flows from financing activities      
Exercise of stock options under equity compensation plans 3.1 4.6 4.1
Dividends paid (329.3) (147.8) (125.3)
Payments for purchases of treasury stock (51.5) 0.0 0.0
Payments on debt and borrowings (509.1) (1,006.6) (918.9)
Proceeds on debt and borrowings 7.0 0.0 1.5
Net proceeds from (payments on) revolving credit facilities and commercial paper (3.7) 1.4 0.0
Other (6.0) (23.8) (31.8)
Net cash provided by (used in) financing activities (889.5) (1,172.2) (1,070.4)
Effect of foreign exchange rate changes on cash and cash equivalents (24.8) (24.1) 35.0
Net increase (decrease) in cash and cash equivalents (37.4) (132.7) 246.7
Balance at beginning of year 637.4 770.1 523.4
Balance at end of year $ 600.0 $ 637.4 $ 770.1