XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income $ 183.7 $ 134.3
Reconciliation of net income to cash flows provided by operating activities:    
Depreciation 36.9 36.0
Amortization 30.5 25.8
Non-cash compensation, net of tax benefit (5.2) (2.4)
Deferred taxes (0.9) 1.4
Changes in assets and liabilities, excluding effects of acquisitions and divestitures:    
Receivables (120.2) (141.7)
Inventories (19.3) (13.6)
Prepaid expenses and other assets 4.1 7.3
Accounts payable 61.3 41.4
Accrued expenses and deferred revenues 10.0 57.4
Long-term liabilities (0.4) 2.6
Other operating activities, net (0.6) 0.3
Net cash provided by operating activities 179.9 148.8
Investing activities    
Capital expenditures (45.9) (33.8)
Acquisitions, net of cash acquired (103.1) (577.8)
Other investing activities, net 0.1 0.1
Net cash used in investing activities (148.9) (611.5)
Financing activities    
Net change in short-term borrowings and revolving credit lines   (1.4)
Repayments of long-term debt   (1.5)
Dividends paid (39.0) (33.1)
Proceeds from issuance of treasury shares and stock options 35.1 31.3
Repurchases of common stock (40.9) (32.8)
Net cash used in financing activities (44.8) (37.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents 1.0 (1.4)
Change in cash and cash equivalents (12.8) (501.6)
Cash and cash equivalents    
Beginning of period 410.7 730.8
End of period $ 397.9 $ 229.2