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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities of Continuing Operations      
Net income from continuing operations $ 783.5 $ 766.0 $ 516.8
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities, net of acquisitions:      
Depreciation and amortization 212.1 149.7 148.5
Deferred income taxes 1.7 (16.2) (27.8)
Stock-based compensation 30.6 26.5 24.5
Loss on disposition of business 5.3 0.0 0.0
Pension charge 0.0 0.0 7.0
Loss on sale of assets 1.0 2.5 3.5
Changes in assets and liabilities, net of acquisitions:      
Decrease (increase) in accounts receivable 22.2 (1.6) (66.8)
Increase in inventories (22.7) (42.1) (66.5)
(Decrease) increase in accounts payable (13.6) 13.2 (15.3)
(Decrease) increase in current liabilities (24.3) (4.5) 108.3
Changes in other assets and liabilities, net 14.9 2.1 13.2
Contributions to qualified defined benefit pension plans (1.3) (20.0) (12.5)
Other, net (18.2) 5.2 3.3
NET CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS 991.2 880.8 636.2
Cash Flows from Investing Activities of Continuing Operations      
Capital expenditures (180.4) (165.7) (129.3)
Acquisitions, net of cash acquired 5.9 (1,211.7) (177.1)
Proceeds from disposal of business, net of cash 122.9 0.0 332.8
Purchases of available-for-sale investments (21.0) (25.4) (33.7)
Proceeds from sales of available-for-sale investments 15.8 21.8 23.0
Other, net (2.3) 0.8 2.4
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES FROM CONTINUING OPERATIONS (59.1) (1,380.2) 18.1
Cash Flows from Financing Activities of Continuing Operations      
Issuance of long-term debt 0.0 600.0 0.0
Payment of long-term debt (600.0) 0.0 0.0
Issuance of short-term debt 22.9 100.0 0.0
Payment of short-term debt 0.0 (2.2) (4.8)
Payment of dividends (267.3) (245.5) (229.6)
Debt issuance cost 0.0 (2.2) 0.0
Acquisition of common shares (40.0) (30.0) (182.0)
Other (39.0) (31.6) (20.7)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (923.4) 388.5 (437.1)
Discontinued Operations:      
Cash (used in) provided by operating activities 0.0 0.0 (53.0)
Cash used in investing activities 0.0 0.0 (1.7)
Cash (used in) provided by discontinued operations 0.0 0.0 (54.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents (16.4) 6.9 (8.8)
(Decrease) Increase in cash, cash equivalents, and restricted cash (7.7) (104.0) 153.7
Cash and cash equivalents, beginning of year 336.1 440.5 286.2
Cash and cash equivalents within assets held for sale, beginning of year 0.0 0.0 0.7
Restricted cash, included in other assets, beginning of year 3.2 2.8 2.7
Less: Restricted cash, included in Other Assets 2.5 3.2 2.8
Less: Cash and cash equivalents within assets held for sale, end of year 0.0 0.0 0.0
Cash and cash equivalents, end of year $ 329.1 $ 336.1 $ 440.5