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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 528.3 $ 447.2
Depreciation and amortization 146.4 104.6
Intangible asset impairments 51.6 0.0
Stock-based incentive compensation 29.4 25.7
Deferred income taxes 9.8 (61.5)
Other non-cash adjustments 12.9 9.3
Changes in operating assets and liabilities (1,019.1) (405.3)
Net cash provided by (used in) operating activities (240.7) 120.0
Investing activities:    
Additions to property, plant and equipment (193.5) (228.0)
Acquisition of businesses, net of cash acquired (120.8) (995.8)
Proceeds from sale of businesses, net of cash sold 7.0 32.6
Other investing activities (2.3) 0.1
Net cash used in investing activities (309.6) (1,191.1)
Financing activities:    
Proceeds from revolving credit facilities 3,588.0 1,008.5
Repayments of revolving credit facilities (2,828.5) (513.2)
Repayments of debt (0.3) (15.5)
Dividends paid (90.1) (80.3)
Repurchases of Common Stock (65.6) (22.6)
Other financing activities (17.8) (5.6)
Net cash provided by financing activities 585.7 371.3
Effect of exchange rate changes on cash and cash equivalents 0.1 0.0
Increase (decrease) in cash and cash equivalents 35.5 (699.8)
Cash and cash equivalents at beginning of period 125.4 805.9
Cash and cash equivalents at end of period 160.9 106.1
Supplemental disclosures:    
Cash paid for interest 80.0 36.7
Cash paid for income taxes, net of refunds 364.9 122.6
Operating right-of-use assets obtained 29.6 24.7
Finance right-of-use assets obtained 16.1 18.8
Property, plant and equipment additions - noncash $ 15.5 $ 25.4