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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income including noncontrolling interest $ 487.4 $ 510.1
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 311.2 303.9
Amortization 158.2 116.7
Deferred income taxes (57.6) 39.5
Share-based compensation expense 52.8 58.9
Pension and postretirement plan contributions (35.1) (36.5)
Pension and postretirement plan (income) expense, net (2.7) 23.6
Restructuring charges, net of cash paid (13.4) (15.9)
Other, net 10.1 12.0
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (234.0) (19.1)
Inventories (250.8) (103.5)
Other assets (43.2) (53.8)
Accounts payable 163.8 33.5
Other liabilities (54.2) (71.1)
Cash provided by operating activities 492.5 798.3
INVESTING ACTIVITIES    
Capital expenditures (317.5) (245.6)
Property and other assets sold 0.7 0.3
Acquisitions and investments in affiliates, net of cash acquired (7.2) (89.8)
Other, net 13.2 (12.7)
Cash used for investing activities (310.8) (347.8)
FINANCING ACTIVITIES    
Net issuances (payments) of commercial paper and notes payable 208.0 (1.0)
Reacquired shares (402.8) (70.6)
Dividends paid (300.1) (286.6)
Exercise of employee stock options 12.7 40.4
Hedge settlements 55.4 2.0
Other, net (1.4) (2.5)
Cash used for financing activities (428.2) (318.3)
Effect of exchange rate changes on cash and cash equivalents 11.5 10.0
(Decrease) increase in cash and cash equivalents (235.0) 142.2
Cash and cash equivalents, beginning of period 359.9 1,260.2
Cash and cash equivalents, end of period $ 124.9 $ 1,402.4