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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 164.1 $ 183.7
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 40.2 36.9
Amortization 38.9 30.5
Stock-based compensation, net of tax benefit 7.3 (5.2)
Other operating activities, net 6.4 (1.5)
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (167.6) (120.2)
Inventories (38.7) (19.3)
Prepaid expenses and other assets 6.4 4.1
Accounts payable 71.7 61.3
Accrued expenses (6.8) 5.9
Deferred revenues 13.1 4.1
Other long-term liabilities (0.3) (0.4)
Net cash provided by operating activities 134.7 179.9
Investing activities    
Capital expenditures (66.1) (45.9)
Acquisitions, net of cash acquired (225.9) (103.1)
Other investing activities, net 0.1 0.1
Net cash used in investing activities (291.9) (148.9)
Financing activities    
Proceeds from revolving credit facility 263.0 0.0
Repayment of revolving credit facility (153.0) 0.0
Dividends paid (45.8) (39.0)
Proceeds from exercise of stock options 3.5 39.8
Withholding tax paid related to stock-based compensation (8.1) (4.7)
Repurchases of common stock (150.0) (40.9)
Net cash used in financing activities (90.4) (44.8)
Effect of foreign currency exchange rate changes on cash and cash equivalents 2.1 1.0
Change in cash and cash equivalents (245.5) (12.8)
Cash and cash equivalents    
Beginning of period 385.3 410.7
End of period $ 139.8 $ 397.9