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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net income $ 320.1 $ 472.8 $ 611.1
Reconciliation of net income to cash flows provided by operating activities:      
Depreciation 97.4 88.4 86.4
Amortization 126.8 117.0 104.2
Lease expense 28.1 27.5 0.0
Stock-based compensation 29.9 26.1 23.9
Loss on extinguishment of debt 8.8 0.0 0.0
Deferred taxes (27.0) (8.9) (0.8)
Gain on sale of discontinued operations, net of tax 0.0 0.0 (250.4)
Other operating activities, net 21.9 5.4 (18.8)
Changes in assets and liabilities, excluding effects of acquisitions:      
Receivables 78.9 1.0 (32.6)
Inventories 16.4 (1.9) (29.0)
Contract assets 13.3 (26.7) (21.9)
Prepaid expenses and other assets (6.6) (3.6) (2.0)
Accounts payable (15.2) 16.5 (39.5)
Accrued and other current liabilities (5.3) 5.2 (99.9)
Contract Liabilities 20.5 18.5 11.8
Other long-term liabilities (11.3) (34.2) (3.3)
Net cash provided by operating activities 696.7 703.1 339.2
Investing activities:      
Capital expenditures (95.5) (88.9) (120.7)
Acquisitions, net of cash acquired (35.4) (616.4) (19.5)
Proceed from sale of discontinued operation 0.0 0.0 758.0
Other investing activities, net 8.3 10.4 11.4
Net cash (used in) provided by investing activities (122.6) (694.9) 629.2
Financing activities:      
Borrowings from revolving credit facility 500.0 0.0 0.0
Repayments of revolving credit facility (500.0) 0.0 0.0
Proceeds from notes 740.7 0.0 0.0
Repayments of notes (258.5) 0.0 0.0
Repurchases of common stock (382.4) (382.1) (459.8)
Dividends paid (112.4) (102.9) (93.5)
Financing costs (24.2) 0.0 0.0
Proceeds from exercise of stock options 21.3 37.0 22.7
Withholding tax paid related to stock-based compensation (8.3) (10.4) (10.1)
Other financing activities, net (0.9) (2.8) 0.0
Net cash used in financing activities (24.7) (461.2) (540.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents 1.6 0.6 (1.1)
Change in cash and cash equivalents 551.0 (452.4) 426.6
Less: change in cash and cash equivalents of discontinued operations 0.0 0.0 1.3
Cash and cash equivalents      
Cash and cash equivalents at beginning of period 351.2 803.6 378.3
Cash and cash equivalents at end of period $ 902.2 $ 351.2 $ 803.6