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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net earnings $ 160.6 $ 257.1
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 81.2 82.9
Amortization of intangibles and supply agreements 53.9 51.4
(Decrease) increase in provision for losses on accounts and notes receivable (6.0) 2.1
Writedown of inventories 4.9 9.0
Net gain from disposal of assets and businesses (6.0) (1.6)
Deferred income tax benefit (17.3) (12.4)
Stock-based compensation 21.7 25.0
Other, net 5.8 (4.3)
Changes in working capital, excluding effects from acquisitions and divestitures:    
Accounts and other receivables (23.3) (108.7)
Inventories 66.5 16.4
Other current assets (6.0) (3.2)
Accounts payable 19.4 (97.8)
Accrued expenses and other current liabilities (4.3) (21.6)
NET CASH PROVIDED BY OPERATING ACTIVITIES 351.1 194.3
INVESTING ACTIVITIES    
Additions to property, plant and equipment (90.4) (65.5)
Purchases of companies, net of cash acquired 0.0 (62.5)
Proceeds from disposals of assets and businesses 13.2 3.0
Other, net (0.2) (0.4)
NET CASH USED FOR INVESTING ACTIVITIES (77.4) (125.4)
FINANCING ACTIVITIES    
Additions to long-term debt 0.7 2.0
Payments on long-term debt (1.1) (300.9)
Change in commercial paper and short-term debt (121.3) 351.8
Dividends paid (178.1) (170.8)
Purchases of common stock (5.5) (60.3)
Other, net (5.5) (1.1)
NET CASH USED FOR FINANCING ACTIVITIES (310.8) (179.3)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (5.5) (25.1)
DECREASE IN CASH AND CASH EQUIVALENTS (42.6) (135.5)
CASH AND CASH EQUIVALENTS—January 1, 316.5 361.7
CASH AND CASH EQUIVALENTS—September 30, $ 273.9 $ 226.2