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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash from operating activities:    
Net income $ 560.8 $ 556.1
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 163.4 122.2
Stock-based compensation expense 29.8 26.0
Deferred income tax benefit (23.6) (36.9)
Net change in components of working capital (66.6) (185.5)
Net change in accrued pension and postretirement benefits 3.7 (78.9)
Net change in other long-term assets and liabilities (1.5) (7.7)
Net change in operating assets and liabilities:    
Net cash provided by operating activities 666.0 395.3
Cash from investing activities:    
Capital expenditures (149.9) (134.1)
Proceeds from disposals of property, plant and equipment 5.5 1.5
Purchases of short-term investments (36.9) (26.6)
Sales and maturities of short-term investments 34.4 34.9
Acquisitions, net of cash acquired (756.2) (158.8)
Net cash used in investing activities (903.1) (283.1)
Cash from financing activities:    
Proceeds from issuance of senior notes 499.5 0.0
Repayments of long-term debt (757.8) (3.0)
Borrowings (repayments) under commercial paper programs, net 667.5 (125.6)
Payment of costs related to debt financing (7.2) 0.0
Proceeds from exercise of stock options 113.5 50.7
Distributions to and purchases of noncontrolling interests (24.6) (7.1)
Purchase of treasury stock (408.7) (645.4)
Dividend payments (137.2) (115.5)
Net cash used in financing activities (55.0) (845.9)
Effect of exchange rate changes on cash and cash equivalents (4.9) (21.0)
Net change in cash and cash equivalents (297.0) (754.7)
Cash and cash equivalents balance, beginning of period 1,279.3 1,719.1
Cash and cash equivalents balance, end of period 982.3 964.4
Cash paid for:    
Interest 57.8 48.0
Income taxes $ 241.7 $ 234.5