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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income (loss) including noncontrolling interests $ 635.2 $ 419.3
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 336.7 339.9
Amortization of debt issuance costs and discounts 2.7 2.9
Share-based compensation 24.2 20.3
(Gain) loss on sale or impairment of property, plant, equipment and other assets, net (6.4) (1.9)
Unrealized (gain) loss on foreign currency fluctuations and derivative instruments, net (28.0) 111.6
Equity (income) loss 2.8 (7.3)
Income tax (benefit) expense 190.1 123.7
Income tax (paid) received (105.2) (78.2)
Interest expense, excluding amortization of debt issuance costs and discounts 110.5 118.4
Interest paid (102.5) (109.4)
Change in current assets and liabilities and other (165.5) (44.9)
Net cash provided by (used in) operating activities 894.6 894.4
Cash flows from investing activities    
Additions to property, plant and equipment (392.2) (335.1)
Proceeds from sales of property, plant, equipment and other assets 10.3 5.5
Other 0.5 (11.0)
Net cash provided by (used in) investing activities (381.4) (340.6)
Cash flows from financing activities    
Dividends paid (188.4) (178.2)
Payments for purchases of treasury stock (375.3) (26.7)
Payments on debt and borrowings (3.4) (6.1)
Proceeds on debt and borrowings 863.7 7.0
Other (11.0) 2.1
Net cash provided by (used in) financing activities 285.6 (201.9)
Effect of foreign exchange rate changes on cash and cash equivalents (20.4) 9.0
Net increase (decrease) in cash and cash equivalents 778.4 360.9
Balance at beginning of year 868.9 600.0
Balance at end of period $ 1,647.3 $ 960.9