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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net income $ 286.3 $ 273.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 122.6 117.0
Deferred income taxes 5.9 (4.3)
Stock-based compensation 16.5 20.0
Provision for bad debt expense (0.1) 8.3
Loss on disposition of business 6.9 0.0
Loss on extinguishment of debt 16.8 0.0
Pension charge 0.0 6.6
Changes in assets and liabilities, excluding effects of acquisitions:    
Increase in accounts receivable, net (165.0) (42.1)
Decrease (increase) in inventories, net (97.9) 45.1
Increase in accounts payable 120.6 45.0
Increase (decrease) in current liabilities 5.3 (44.8)
Changes in other assets and liabilities, net (8.0) 27.3
Contribution to qualified defined benefit pension plans (0.1) (2.8)
Other, net (3.0) 6.9
Net cash provided by operating activities 306.8 455.6
Cash Flows from Investing Activities    
Capital expenditures (66.5) (51.7)
Proceeds from disposal of business 8.5 0.0
Acquisition of businesses, net of cash acquired 0.1 (2.0)
Purchases of available-for-sale investments (10.6) (14.3)
Proceeds from available-for-sale investments 7.2 16.5
Other, net 7.8 5.1
Net cash used in investing activities (53.5) (46.4)
Cash Flows from Financing Activities    
Long-term debt borrowings 298.7 225.0
Long-term debt repayments (300.0) (331.3)
Short-term debt (repayments) borrowings, net (24.2) (9.0)
Payment of dividends to shareholders (159.8) (148.2)
Payment of dividends to noncontrolling interest (10.1) (2.1)
Repurchase of common stock (11.2) (41.3)
Debt issuance costs (4.5) 0.0
Make whole payment for retirement of long-term debt (16.0) 0.0
Other, net (25.3) (9.2)
Net cash used by financing activities (252.4) (316.1)
Effect of exchange rate changes on cash and cash equivalents (2.6) (5.9)
Increase (decrease) in cash and cash equivalents (1.7) 87.2
Cash and cash equivalents    
Beginning of period 259.6 182.0
End of period $ 257.9 $ 269.2