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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income including noncontrolling interest $ 839.4 $ 838.7
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 463.4 453.1
Amortization 238.8 174.4
Deferred income taxes (106.6) 52.7
Share-based compensation expense 67.2 72.5
Pension and postretirement plan contributions (51.8) (51.3)
Pension and postretirement plan expense, net 20.5 29.9
Restructuring charges, net of cash paid (17.8) (35.1)
Debt refinancing   29.4
Other, net 13.2 19.7
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (350.8) (101.0)
Inventories (385.7) (79.8)
Other assets (345.0) (48.1)
Accounts payable 260.2 71.5
Other liabilities 284.2 (5.6)
Cash provided by operating activities 929.2 1,421.0
INVESTING ACTIVITIES    
Capital expenditures (510.0) (423.8)
Property and other assets sold 1.4 12.3
Acquisitions and investments in affiliates, net of cash acquired (7.2) (209.9)
Other, net 9.4 (17.1)
Cash used for investing activities (506.4) (638.5)
FINANCING ACTIVITIES    
Net issuances of commercial paper and notes payable 87.6 0.5
Long-term debt borrowings   293.7
Long-term debt repayments   (1,017.9)
Reacquired shares (445.4) (77.8)
Dividends paid (445.0) (426.5)
Exercise of employee stock options 20.8 94.3
Debt refinancing   (29.4)
Hedge settlements 109.6 9.4
Other, net (3.2) (5.6)
Cash used for financing activities (675.6) (1,159.3)
Effect of exchange rate changes on cash and cash equivalents 5.8 14.5
Decrease in cash and cash equivalents (247.0) (362.3)
Cash and cash equivalents, beginning of period 359.9 1,260.2
Cash and cash equivalents, end of period $ 112.9 $ 897.9