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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net earnings $ 107.7 $ 185.6
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 54.2 56.0
Amortization of intangibles and supply agreements 35.9 34.2
(Decrease) increase in provision for losses on accounts and notes receivable (2.1) 2.2
Writedown of inventories 5.4 6.1
Net gain from disposal of assets and businesses (3.6) (1.3)
Deferred income tax benefit (7.1) (1.6)
Stock-based compensation 16.5 20.7
Other, net 8.2 (3.0)
Increases/decreases in, excluding effects from acquisitions and divestitures:    
Accounts and other receivables (27.4) (93.0)
Inventories 49.6 (55.8)
Other current assets (6.9) (10.1)
Accounts payable (8.9) 5.2
Accrued expenses and other current liabilities (14.2) (16.4)
NET CASH PROVIDED BY OPERATING ACTIVITIES 207.3 128.8
INVESTING ACTIVITIES    
Additions to property, plant and equipment (68.2) (40.8)
Proceeds from disposals of assets and businesses 5.3 2.7
Other, net 0.3 0.1
NET CASH USED FOR INVESTING ACTIVITIES (62.6) (38.0)
FINANCING ACTIVITIES    
Payments on long-term debt (1.1) (0.1)
Change in commercial paper and short-term debt (60.6) 2.5
Dividends paid (116.9) (112.1)
Purchases of common stock (5.3) (56.9)
Other, net (1.0) (0.8)
NET CASH USED FOR FINANCING ACTIVITIES (184.9) (167.4)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (3.9) (15.2)
DECREASE IN CASH AND CASH EQUIVALENTS (44.1) (91.8)
CASH AND CASH EQUIVALENTS—January 1, 316.5 361.7
CASH AND CASH EQUIVALENTS—June 30, $ 272.4 $ 269.9