XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net income $ 250.4 $ 173.9
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 61.5 55.9
Amortization 59.2 46.1
Impairment charges 0.0 141.5
Stock-based compensation, net of tax benefit 11.9 (3.1)
Other operating activities, net 3.5 (21.6)
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (155.3) (93.5)
Inventories (45.9) (20.6)
Prepaid expenses and other assets 1.4 1.0
Accounts payable 61.3 43.3
Accrued expenses 39.9 25.3
Deferred revenues 15.4 7.4
Other long-term liabilities (3.7) (0.5)
Net cash provided by operating activities 299.6 355.1
Investing activities    
Acquisitions, net of cash acquired (280.0) (103.1)
Capital expenditures (105.8) (77.3)
Other investing activities, net 0.2 0.8
Net cash used in investing activities (385.6) (179.6)
Financing activities    
Repayments of borrowings 0.0 (150.0)
Proceeds from revolving credit facility 491.0 0.0
Repayments of revolving credit facility (306.0) 0.0
Repurchases of common stock (266.4) (61.3)
Dividends paid (69.0) (61.8)
Withholding tax paid related to stock-based compensation (8.2) (4.8)
Proceeds from exercise of stock options 4.1 46.2
Net cash used in financing activities (154.5) (231.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents 2.8 0.9
Change in cash and cash equivalents (237.7) (55.3)
Cash and cash equivalents    
Beginning of period 385.3 410.7
End of period $ 147.6 $ 355.4