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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities:    
Net income $ 340.0 $ 301.2
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation (including amortization of technology projects) 64.4 61.3
Amortization of intangibles 29.7 23.0
Amortization of prepublication costs 75.5 95.2
Provision for losses on accounts receivable 3.8 6.1
Deferred income taxes 0.1 (16.8)
Stock-based compensation 41.2 23.0
Other 16.5 2.4
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:    
Accounts receivable 2.7 (42.4)
Inventories (63.1) (38.6)
Prepaid and other current assets (15.7) (13.0)
Accounts payable and accrued expenses (269.0) (141.9)
Unearned revenue 16.4 42.8
Other current liabilities (12.7) (6.8)
Net change in prepaid/accrued income taxes 100.0 61.5
Net change in other assets and liabilities 8.6 2.5
Cash provided by operating activities 338.4 359.5
Investing Activities:    
Investment in prepublication costs (60.2) (60.0)
Capital expenditures (44.6) (39.0)
Acquisitions, including contingent payments, net of cash acquired (126.1) (5.0)
Proceeds from dispositions 19.9 5.3
Changes in short-term investments (2.6) (2.2)
Cash used for investing activities (213.6) (100.9)
Financing Activities:    
Dividends paid to shareholders (152.4) (148.2)
Dividends paid to noncontrolling interests (8.7) (14.2)
Repurchase of treasury shares (300.3) (186.9)
Exercise of stock options 80.5 26.5
Excess tax benefits from share-based payments 1.9 1.3
Cash used for financing activities (379.0) (321.5)
Effect of exchange rate changes on cash 28.8 (29.2)
Net change in cash and equivalents (225.4) (92.1)
Cash and equivalents at beginning of period 1,525.6 1,209.9
Cash and equivalents at end of period $ 1,300.2 $ 1,117.8