XML 31 R7.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash from operating activities:    
Net income $ 843.2 $ 875.7
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 235.4 194.5
Stock-based compensation expense 46.4 40.4
Loss on early extinguishment of debt 14.3 0.0
Deferred income tax benefit (37.5) (41.5)
Net change in components of working capital (27.1) (246.4)
Net change in accrued pension and postretirement benefits 5.3 (77.0)
Net change in other long-term assets and liabilities (1.8) (11.2)
Net cash provided by operating activities 1,078.2 734.5
Cash from investing activities:    
Capital expenditures (223.0) (208.2)
Proceeds from disposals of property, plant and equipment 7.1 3.8
Purchases of short-term investments (48.5) (35.3)
Sales and maturities of short-term investments 44.6 48.3
Acquisitions, net of cash acquired (891.2) (158.9)
Net cash used in investing activities (1,111.0) (350.3)
Cash from financing activities:    
Proceeds from issuance of senior notes 1,398.8 0.0
Repayments of long-term debt (1,111.2) (8.7)
Borrowings (repayments) under commercial paper programs, net 137.2 (300.1)
Payment of costs related to debt financing (14.9) (0.3)
Payment of premiums and fees related to early extinguishment of debt (13.4) 0.0
Proceeds from exercise of stock options 146.3 123.0
Distributions to and purchases of noncontrolling interests (25.0) (17.9)
Purchase of treasury stock (558.7) (680.2)
Dividend payments (205.5) (184.4)
Net cash used in financing activities (246.4) (1,068.6)
Effect of exchange rate changes on cash and cash equivalents (30.8) (36.4)
Net change in cash and cash equivalents (310.0) (720.8)
Cash and cash equivalents balance, beginning of period 1,279.3 1,719.1
Cash and cash equivalents balance, end of period 969.3 998.3
Cash paid for:    
Interest 81.8 79.5
Income taxes $ 333.2 $ 307.7