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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 (loss) including noncontrolling interests $ 1,157.7 $ 956.4 $ (186.5)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation and amortization 759.4 682.8 684.8
Amortization of debt issuance costs and discounts 5.3 5.7 7.7
Interest expense related to mandatorily redeemable noncontrolling interest 46.5 0.0 0.0
Share-based compensation 43.1 44.9 33.6
Goodwill impairment 0.0 0.0 845.0
(Gain) loss on sale or impairment of property, plant, equipment and other assets, net 51.8 181.9 18.6
Unrealized (gain) loss on foreign currency fluctuations and derivative instruments, net (28.7) 88.3 236.4
Equity (income) loss (2.7) (12.0) (4.7)
Income tax (benefit) expense 345.3 296.1 124.0
Income tax (paid) received (227.1) (244.8) (76.6)
Interest expense, excluding amortization of debt issuance costs and discounts and mandatorily redeemable noncontrolling interest 230.9 228.3 242.9
Interest paid (216.0) (229.0) (240.0)
Other non-cash items, net (77.1) 0.0 0.0
Change in current assets and liabilities (net of impact of business combinations) and other      
Receivables 39.6 (0.7) (108.5)
Inventories 55.1 21.7 (64.6)
Payables and other current liabilities (234.4) 50.2 (16.1)
Other assets and other liabilities (38.4) 9.2 6.0
Net cash provided by (used in) operating activities 1,910.3 2,079.0 1,502.0
Cash flows from investing activities      
Additions to property, plant and equipment (674.1) (671.5) (661.4)
Proceeds from sales of property, plant, equipment and other assets 24.5 10.9 32.2
Acquisition of business, net of cash acquired (8.6) (63.7) 0.0
Other 10.2 (117.4) 4.1
Net cash provided by (used in) investing activities (648.0) (841.7) (625.1)
Cash flows from financing activities      
Dividends paid (369.2) (354.7) (329.3)
Payments for purchases of treasury stock (643.4) (205.8) (51.5)
Payments on debt and borrowings (883.8) (404.8) (509.1)
Proceeds on debt and borrowings 863.7 7.0 7.0
Net proceeds from (payments on) revolving credit facilities and commercial paper 0.0 0.0 (3.7)
Other (105.7) (23.1) (2.9)
Net cash provided by (used in) financing activities (1,138.4) (981.4) (889.5)
Effect of foreign exchange rate changes on cash and cash equivalents (23.5) 13.0 (24.8)
Net increase (decrease) in cash and cash equivalents 100.4 268.9 (37.4)
Balance at beginning of year 868.9 600.0 637.4
Balance at end of year $ 969.3 $ 868.9 $ 600.0