XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flow From Operating Activities      
Net Income (Loss) $ 755.6 $ 413.9 $ 827.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 72.8 67.0 68.4
Amortization expense 152.4 152.0 150.7
Change in fair value of business acquisition liabilities 0.0 0.0 (98.0)
Deferred income taxes (13.8) (117.7) 20.3
Flawless impairment 0.0 411.0 0.0
Equity in net earnings of affiliates (8.7) (12.3) (9.4)
Distributions from unconsolidated affiliates 9.5 8.7 9.4
Non-cash compensation expense 63.6 32.3 23.7
Asset impairment charge and other asset write-offs 8.9 2.4 14.9
Other (0.4) (3.2) 3.6
Change in assets and liabilities:      
Accounts receivable (97.4) (5.3) 2.4
Inventories 38.5 (92.8) (29.1)
Other current assets 10.4 2.5 (6.1)
Accounts payable and accrued expenses 55.2 39.9 47.5
Income taxes payable (1.8) 14.4 (16.0)
Other operating assets and liabilities, net (14.2) (27.6) (16.0)
Net Cash Provided By Operating Activities 1,030.6 885.2 993.8
Cash Flow From Investing Activities      
Additions to property, plant and equipment (223.5) (178.8) (118.8)
Acquisitions 0.0 (546.8) (556.0)
Other (10.8) (3.0) (7.2)
Net Cash Used In Investing Activities (234.3) (728.6) (682.0)
Cash Flow From Financing Activities      
Long-term debt borrowings 0.0 998.8 799.2
Long-term debt (repayments) (200.0) (700.0) (300.0)
Short-term debt (repayments), net of borrowings (70.6) (178.9) (98.5)
Proceeds from stock options exercised 111.7 26.2 98.7
Payment of cash dividends (266.5) (255.0) (247.5)
Purchase of treasury stock (300.1) 0.0 (500.0)
Deferred financing and other (0.1) (12.0) (4.0)
Net Cash Used In Financing Activities (725.6) (120.9) (252.1)
Effect of exchange rate changes on cash and cash equivalents 3.5 (6.0) (2.2)
Net Change In Cash and Cash Equivalents 74.2 29.7 57.5
Cash and Cash Equivalents at Beginning of Period 270.3 240.6 183.1
Cash and Cash Equivalents at End of Period 344.5 270.3 240.6
Cash paid during the year for:      
Interest (net of amounts capitalized) 111.9 86.0 51.8
Income taxes 228.2 213.1 202.8
Supplemental disclosure of non-cash investing activities:      
Property, plant and equipment expenditures included in Accounts Payable $ 30.7 $ 13.7 $ 10.7