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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities      
Net income $ 891.9 $ 784.7 $ 757.6
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisitions:      
Depreciation and amortization 206.1 212.1 149.7
Deferred income taxes 11.0 2.0 (18.9)
Stock-based compensation 33.0 30.6 26.5
Loss on disposition of business 0.4 5.3 0.0
Loss on sale of assets 1.2 1.0 2.5
Changes in assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (68.2) 22.2 (1.6)
Increase in inventories (32.3) (24.2) (31.0)
Increase (decrease) in accounts payable 6.3 (13.6) 13.2
Increase (decrease) in current liabilities 33.3 (24.3) (4.5)
Changes in other assets and liabilities, net 4.6 14.9 2.1
Contributions to qualified defined benefit pension plans (41.4) (1.3) (20.0)
Other, net (16.1) (18.2) 5.2
Net cash provided by operating activities 1,029.8 991.2 880.8
Cash Flows from Investing Activities      
Capital expenditures (155.1) (180.4) (165.7)
Acquisitions, net of cash acquired (958.3) 5.9 (1,211.7)
Proceeds from disposal of business, net of cash 2.6 122.9 0.0
Purchases of available-for-sale investments (25.2) (21.0) (25.4)
Proceeds from sales of available-for-sale investments 16.7 15.8 21.8
Other, net 24.7 (2.3) 0.8
NET CASH USED IN INVESTING ACTIVITIES (1,094.6) (59.1) (1,380.2)
Cash Flows from Financing Activities      
Issuance of long-term debt 1,000.0 0.0 600.0
Payment of long-term debt (400.0) (600.0) 0.0
Issuance of short-term debt 164.0 22.9 100.0
Payment of short-term debt (0.3) 0.0 (2.2)
Payment of dividends (286.6) (267.3) (245.5)
Debt issuance cost (9.2) 0.0 (2.2)
Acquisition of common shares (225.0) (40.0) (30.0)
Other (39.3) (39.0) (31.6)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 203.6 (923.4) 388.5
Effect of foreign currency exchange rate changes on cash and cash equivalents 13.9 (16.4) 6.9
Increase (decrease) in cash, cash equivalents, and restricted cash 152.7 (7.7) (104.0)
Cash and cash equivalents, beginning of year 329.1 336.1 440.5
Restricted cash, included in other assets, beginning of year 2.5 3.2 2.8
Less: Restricted cash, included in Other Assets 1.8 2.5 3.2
Cash and cash equivalents, end of year $ 482.5 $ 329.1 $ 336.1