XML 22 R5.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 163.3 $ 131.7
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 144.1 90.0
Provision for uncollectible receivables 6.7 6.1
Amortization of restricted stock and other non-cash compensation 44.1 46.0
Net amortization of bond discounts and deferred financing costs 4.6 2.7
Deferred income tax provision (3.0) (31.0)
Net losses on sales of businesses 11.8 44.2
Other 2.1 1.9
Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash:    
Accounts receivable 743.3 238.0
Accounts receivable, billable to clients (75.4) (233.7)
Other current assets (62.1) (124.6)
Accounts payable (676.9) (579.3)
Accrued liabilities (92.2) (175.9)
Contract liabilities 50.2 38.0
Operating lease right-of-use assets 168.0 (0.0)
Operating lease liabilities (164.0) 0.0
Other non-current assets and liabilities (65.6) (11.8)
Net cash provided by (used in) operating activities 199.0 (557.7)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (80.1) (61.5)
Acquisitions, net of cash acquired (0.6) (8.5)
Other investing activities 2.8 12.4
Net cash used in investing activities (77.9) (57.6)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in short-term borrowings 132.3 669.3
Exercise of stock options 0.6 7.0
Repurchase of common stock (0.0) (114.5)
Common stock dividends (181.4) (161.2)
Repayment of long-term debt (100.1) (4.7)
Tax payments for employee shares withheld (22.0) (28.0)
Acquisition-related payments (13.0) (16.0)
Distributions to noncontrolling interests (8.1) (10.6)
Other financing activities 0.0 (0.3)
Net cash (used in) provided by financing activities (191.7) 341.0
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 10.3 (27.5)
Net decrease in cash, cash equivalents and restricted cash (60.3) (301.8)
Cash, cash equivalents, and restricted cash at beginning of period 677.2 797.7
Cash, cash equivalents, and restricted cash at end of period $ 616.9 $ 495.9