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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash from operating activities:    
Net income $ 269.9 $ 268.3
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 85.6 60.5
Stock-based compensation expense 14.4 12.7
Deferred income tax (benefit) expense (0.7) (0.2)
Net change in components of working capital (22.7) (133.3)
Net change in accrued pension and postretirement benefits 1.5 (79.0)
Net change in other long-term assets and liabilities (4.4) 1.2
Net cash provided by operating activities 343.6 130.2
Cash from investing activities:    
Capital expenditures (74.5) (54.9)
Proceeds from disposals of property, plant and equipment 4.3 0.8
Purchases of short-term investments (23.1) (6.8)
Sales and maturities of short-term investments 17.5 18.1
Acquisitions, net of cash acquired (399.3) (99.5)
Net cash used in investing activities (475.1) (142.3)
Cash from financing activities:    
Proceeds from issuance of senior notes 499.5  
Repayments of long-term debt (757.2)  
Borrowings (repayments) under commercial paper programs, net 267.4 (304.8)
Payment of costs related to debt financing (6.9)  
Proceeds from exercise of stock options 47.5 20.6
Distributions to shareholders of noncontrolling interests (3.2) (3.9)
Purchase of treasury stock (160.0) (382.0)
Dividend payments (68.7) (58.1)
Net cash used in financing activities (181.6) (728.2)
Effect of exchange rate changes on cash and cash equivalents 3.5 21.4
Net change in cash and cash equivalents (309.6) (718.9)
Cash and cash equivalents balance, beginning of period 1,279.3 1,719.1
Cash and cash equivalents balance, end of period 969.7 1,000.2
Cash paid for:    
Interest 31.6 41.0
Income taxes $ 104.0 $ 75.9