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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net income including noncontrolling interest $ 1,652.4 $ 982.2
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 473.7 463.3
Amortization 226.2 229.8
Deferred income taxes (149.7) (45.9)
Share-based compensation expense 109.5 73.4
Pension and postretirement plan contributions (43.7) (92.2)
Pension and postretirement plan expense (income), net 11.5 6.0
Restructuring charges, net of cash paid (11.7) (17.5)
Gain on sale of global surgical solutions business (382.7)  
Other, net 17.7 21.1
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (109.3) (88.9)
Inventories (163.6) 266.4
Other assets (41.1) 25.2
Accounts payable 277.7 (245.7)
Other liabilities 180.3 (17.9)
Cash provided by operating activities 2,047.2 1,559.3
INVESTING ACTIVITIES    
Capital expenditures (634.8) (512.2)
Property and other assets sold 3.3 9.5
Acquisitions and investments in affiliates, net of cash acquired (56.4) (106.8)
Divestiture of businesses, net of cash divested 889.7  
Other, net (8.1) (32.6)
Cash provided by (used for) investing activities 193.7 (642.1)
FINANCING ACTIVITIES    
Net issuances of commercial paper and notes payable 3.3 (0.3)
Long-term debt repayments (630.4)  
Reacquired shares (983.7) (11.7)
Dividends paid (502.9) (462.6)
Exercise of employee stock options 232.8 61.2
Hedge settlements (0.6) (53.4)
Other, net (2.5) (2.4)
Cash used for financing activities (1,884.0) (469.2)
Effect of exchange rate changes on cash and cash equivalents (15.3) (45.3)
Increase in cash and cash equivalents 341.6 402.7
Cash and cash equivalents, beginning of period 919.5 598.6
Cash and cash equivalents, end of period $ 1,261.1 $ 1,001.3