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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flow From Operating Activities      
Net Income $ 785.9 $ 615.9 $ 568.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 66.2 63.8 64.4
Amortization expense 123.5 112.6 76.7
Change in fair value of business acquisition liabilities (93.7) 1.3 0.0
Deferred income taxes 25.7 5.6 11.1
Equity in net earnings of affiliates (6.7) (6.6) (9.2)
Distributions from unconsolidated affiliates 7.4 5.3 10.1
Non-cash compensation expense 21.5 20.8 23.3
Asset impairment charge and other asset write-offs 1.9 13.8 3.6
Gain on sale of assets (3.0) (0.0) (0.0)
Other 2.3 0.1 1.0
Change in assets and liabilities:      
Accounts receivable (13.4) (9.2) (3.4)
Inventories (61.9) (33.8) (55.1)
Other current assets (10.2) 4.9 18.9
Accounts payable and accrued expenses 168.0 72.8 54.9
Income taxes payable 12.2 3.4 (6.1)
Other operating assets and liabilities, net (35.4) (6.2) 4.8
Net Cash Provided By Operating Activities 990.3 864.5 763.6
Cash Flow From Investing Activities      
Additions to property, plant and equipment (98.9) (73.7) (60.4)
Proceeds from sale of assets 7.0 0.0 0.0
Acquisitions (512.7) (475.0) (49.8)
Other (3.5) (4.8) (1.9)
Net Cash Used In Investing Activities (608.1) (553.5) (112.1)
Cash Flow From Financing Activities      
Long-term debt borrowings 0.0 300.0 0.0
Long-term debt (repayments) (0.0) (600.0) (0.0)
Short-term debt borrowings, net of repayments 99.0 251.0 (268.8)
Proceeds from stock options exercised 93.0 52.8 76.6
Payment of cash dividends (237.3) (224.1) (213.3)
Purchase of treasury stock (300.0) (250.0) (200.0)
Payment of business acquisition liabilities (14.5) (0.0) (0.0)
Deferred financing and other (0.3) (2.6) (3.5)
Net Cash Used In Financing Activities (360.1) (472.9) (609.0)
Effect of exchange rate changes on cash and cash equivalents 5.3 0.9 (4.7)
Net Change In Cash and Cash Equivalents 27.4 (161.0) 37.8
Cash and Cash Equivalents at Beginning of Period 155.7 316.7 278.9
Cash and Cash Equivalents at End of Period 183.1 155.7 316.7
Cash paid during the year for:      
Interest (net of amounts capitalized) 58.8 70.6 74.9
Income taxes 162.1 134.8 116.8
Supplemental disclosure of non-cash investing activities:      
Property, plant and equipment expenditures included in Accounts Payable $ 20.1 $ 10.4 $ 6.9