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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 625.4 $ 622.7 $ 480.9
Loss from discontinued operations, net of tax 0.2 0.2 2.3
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities of continuing operations      
Equity income of unconsolidated subsidiaries (1.9) (2.8) (1.8)
Depreciation 60.3 59.5 54.1
Amortization 54.3 55.3 52.5
Deferred income taxes (11.4) (92.5) (44.8)
Share-based compensation 39.7 29.1 24.9
Asset impairment and write-offs 17.6 7.9 25.6
Amortization of bridge financing debt issuance costs 0.0 0.0 9.0
Pension and other post-retirement expense (benefit) 0.1 12.1 (12.2)
Pension and other post-retirement contributions (12.0) (8.7) (8.8)
Gain on sale of assets 0.0 (3.4) (2.3)
Changes in assets and liabilities, net of effects of business acquisitions      
Accounts receivable (11.2) (24.4) 30.4
Inventories 53.6 109.6 (187.0)
Other current assets 14.1 (29.1) (16.5)
Accounts payable (3.7) (75.1) (56.9)
Employee compensation and benefits (5.0) 17.2 (35.2)
Other current liabilities (48.7) (59.5) 46.3
Other non-current assets and liabilities (4.5) 2.7 3.8
Net cash provided by operating activities of continuing operations 766.9 620.8 364.3
Net cash used for operating activities of discontinued operations (0.2) (1.6) (1.0)
Net cash provided by operating activities 766.7 619.2 363.3
Investing activities      
Capital expenditures (74.4) (76.0) (85.2)
Proceeds from sale of property and equipment 0.6 5.6 4.1
Acquisitions, net of cash acquired (108.0) (0.6) (1,580.9)
(Payments) receipts upon the settlement of net investment hedges (5.8) (18.5) 78.9
Other 0.0 4.1 0.3
Net cash used for investing activities (187.6) (85.4) (1,582.8)
Financing activities      
Net receipts of short-term borrowings 9.3 0.0 0.0
Net borrowings (repayments) of revolving long-term debt 9.5 (320.0) 124.5
Proceeds from long-term debt 0.0 0.0 1,391.3
Repayments of long-term debt (362.5) (12.5) (88.3)
Debt issuance costs 0.0 0.0 (15.8)
Shares issued to employees, net of shares withheld 18.4 9.6 (2.7)
Repurchases of ordinary shares (150.0) 0.0 (50.0)
Dividends paid (152.3) (145.2) (138.6)
(Payments) receipts upon the settlement of cross currency swaps (9.1) 0.0 12.3
Net cash (used for) provided by financing activities (636.7) (468.1) 1,232.7
Effect of exchange rate changes on cash and cash equivalents 6.0 (4.3) 1.2
Change in cash and cash equivalents (51.6) 61.4 14.4
Cash and cash equivalents, beginning of year 170.3 108.9 94.5
Cash and cash equivalents, end of year 118.7 170.3 108.9
Supplemental disclosure of cash flow information:      
Cash paid for interest, net 145.6 146.4 57.0
Cash paid for income taxes, net $ 121.0 $ 120.0 $ 122.6