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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash from operating activities:          
Net income $ 260.5 $ 290.9 $ 503.7 $ 560.8  
Adjustments to reconcile net income to cash provided by operating activities:          
Depreciation and amortization     143.6 163.4  
Stock-based compensation expense     32.0 29.8  
Deferred income tax provision (benefit)     5.1 (23.6)  
Net change in components of working capital     70.8 (66.6)  
Net change in other long-term assets and liabilities     (2.8) 2.2  
Net cash provided by operating activities     752.4 666.0  
Cash from investing activities:          
Capital expenditures     (128.3) (149.9)  
Proceeds from disposals of property, plant and equipment     1.9 5.5  
Purchases of short-term investments     (49.1) (36.9)  
Sales and maturities of short-term investments     40.3 34.4  
Acquisitions, net of cash acquired     (16.5) (756.2) $ (937.4)
Net cash used in investing activities     (151.7) (903.1)  
Cash from financing activities:          
Proceeds from issuance of senior notes     942.3 499.5  
Repayments of senior notes and other long-term debt     (401.3) (757.8)  
Borrowings under credit facilities     1,567.4 0.0  
Repayments under credit facilities     (1,568.1) 0.0  
(Repayments) borrowings under commercial paper programs, net     (385.2) 667.5  
Payment of costs related to debt financing     (8.7) (7.2)  
Payment of acquisition-related contingent consideration     (75.0) 0.0  
Proceeds from exercise of stock options     152.5 113.5  
Distributions to and purchases of noncontrolling interests     (9.7) (24.6)  
Purchase of treasury stock     (257.2) (408.7)  
Dividend payments (74.0) (68.5) (148.4) (137.2)  
Net cash used in financing activities     (191.4) (55.0)  
Effect of exchange rate changes on cash and cash equivalents     (12.2) (4.9)  
Net change in cash and cash equivalents     397.1 (297.0)  
Cash and cash equivalents balance, beginning of period     891.2 1,279.3 1,279.3
Cash and cash equivalents balance, end of period $ 1,288.3 $ 982.3 1,288.3 982.3 $ 891.2
Cash paid for:          
Interest     47.2 57.8  
Income taxes, net     $ 141.6 $ 241.7