XML 31 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 421.7 $ 320.1 $ 472.8
Reconciliation of net income to cash flows provided by operating activities:      
Depreciation 92.1 97.4 88.4
Amortization 134.1 126.8 117.0
Lease expense 27.1 28.1 27.5
Stock-based compensation 19.4 29.9 26.1
Loss on extinguishment of debt 0.0 8.8 0.0
Deferred taxes (5.4) (27.0) (8.9)
Other operating activities, net 22.7 21.9 5.4
Changes in assets and liabilities, excluding effects of acquisitions:      
Receivables (206.9) 78.9 1.0
Inventories (136.8) 16.4 (1.9)
Contract assets 13.1 13.3 (26.7)
Prepaid expenses and other assets (34.6) (6.6) (3.6)
Accounts payable 85.4 (15.2) 16.5
Accrued and other current liabilities 4.6 (5.3) 5.2
Contract Liabilities 13.1 20.5 18.5
Other long-term liabilities (27.9) (11.3) (34.2)
Net cash provided by operating activities 421.7 696.7 703.1
Investing activities:      
Acquisitions, net of cash acquired (1,571.3) (35.4) (616.4)
Proceed from sale of discontinued operation, net of cash disposed 247.7 0.0 0.0
Capital expenditures (134.8) (95.5) (88.9)
Investment in securities (30.2) 0.0 0.0
Other investing activities, net 2.2 8.3 10.4
Net cash used in investing activities (1,486.4) (122.6) (694.9)
Financing activities:      
Proceeds from notes 842.6 740.7 0.0
Repayments of notes 0.0 (258.5) 0.0
Borrowings from revolving credit facility 650.0 500.0 0.0
Repayments of revolving credit facility (650.0) (500.0) 0.0
Financing costs (1.7) (24.2) 0.0
Repurchases of common stock (315.6) (382.4) (382.1)
Dividends paid (112.5) (112.4) (102.9)
Proceeds from exercise of stock options 85.9 21.3 37.0
Withholding tax paid related to stock-based compensation (8.5) (8.3) (10.4)
Other financing activities, net (2.1) (0.9) (2.8)
Net cash provided by (used in) financing activities 488.1 (24.7) (461.2)
Effect of foreign currency exchange rate changes on cash and cash equivalents (1.2) 1.6 0.6
Change in cash and cash equivalents (577.8) 551.0 (452.4)
Less: change in cash and cash equivalents of discontinued operations (5.1) (3.6) 1.3
Cash and cash equivalents      
Cash and cash equivalents at beginning of period 897.1 342.5 796.2
Cash and cash equivalents at end of period $ 324.4 $ 897.1 $ 342.5