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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities of Continuing Operations      
Net income from continuing operations $ 516.8 $ 371.1 $ 334.7
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities, net of acquisitions:      
Depreciation and amortization 148.5 149.1 144.5
Deferred income taxes (27.8) 9.2 1.4
Stock-based compensation 24.5 17.5 21.9
Provision for bad debt expense 7.4 1.3 6.7
Loss on disposition of business 0.0 6.9 0.0
Loss on extinguishment of debt 0.0 16.8 0.0
Pension charge 7.0 0.0 7.6
Loss (gain) on sale of assets 3.5 (4.7) 0.2
Changes in assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (74.2) (124.8) 41.7
(Increase) decrease in inventories (66.5) (138.9) 45.8
(Decrease) increase in accounts payable (15.3) 195.1 20.7
Increase (decrease) in current liabilities 108.3 27.6 (26.9)
Changes in other assets and liabilities, net 13.2 (14.9) 19.2
Contributions to qualified defined benefit pension plans (12.5) (0.1) (23.2)
Other, net 3.3 2.5 8.6
NET CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS 636.2 513.7 602.9
Cash Flows from Investing Activities of Continuing Operations      
Capital expenditures (129.3) (90.2) (82.8)
Acquisitions, net of cash acquired (177.1) 0.1 (239.6)
Proceeds from disposal of business, net of cash 332.8 8.5 0.0
Purchases of available-for-sale investments (33.7) (11.4) (35.1)
Proceeds from sales of available-for-sale investments 23.0 11.5 28.9
Other, net 2.4 9.4 5.3
NET CASH PROVIDED (USED) IN INVESTING ACTIVITIES FROM CONTINUING OPERATIONS 18.1 (72.1) (323.3)
Cash Flows from Financing Activities of Continuing Operations      
Issuance of long-term debt 0.0 298.7 225.0
Payment of long-term debt 0.0 (300.0) (331.3)
Issuance of short-term debt 0.0 8.1 125.5
Payment of short-term debt (4.8) (151.6) (3.6)
Payment of dividends (229.6) (216.9) (201.4)
Make whole payment for retirement of long-term debt 0.0 (16.0) 0.0
Debt issuance cost 0.0 (4.5) 0.0
Acquisition of common shares (182.0) (11.2) (41.3)
Other (20.7) (39.6) (17.1)
NET CASH USED IN FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (437.1) (433.0) (244.2)
Discontinued Operations:      
Cash (used) provided by operating activities (53.0) 30.1 45.1
Cash used by investing activities (1.7) (5.7) (5.5)
Cash (used) provided by discontinued operations (54.7) 24.4 39.6
Effect of foreign currency exchange rate changes on cash and cash equivalents (8.8) (3.0) 2.6
Increase in cash, cash equivalents, and restricted cash 153.7 30.0 77.6
Cash and cash equivalents, beginning of year 286.2 258.6 179.8
Cash and cash equivalents within assets held for sale, beginning of year 0.7 1.0 2.2
Restricted cash, included in other assets, beginning of year 2.7 0.0 0.0
Less: Restricted cash, included in Other Assets 2.8 2.7 0.0
Less: Cash and cash equivalents within assets held for sale, end of year 0.0 0.7 1.0
Cash and cash equivalents, end of year $ 440.5 $ 286.2 $ 258.6