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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash from operating activities:      
Net income $ 331.8 $ 243.2  
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 76.7 72.1  
Stock-based compensation expense 19.1 15.4  
Deferred income tax (benefit) provision 14.2 13.4  
Net change in components of working capital (114.6) 43.8  
Net change in other long-term assets and liabilities (6.2) (3.6)  
Net cash provided by operating activities 321.0 384.3  
Cash from investing activities:      
Capital expenditures (78.4) (60.8)  
Proceeds from disposals of property, plant and equipment 0.9 1.2  
Purchases of short-term investments (46.2) (12.0)  
Sales and maturities of short-term investments 48.5 17.7  
Acquisitions, net of cash acquired (185.6) (16.5)  
Other (2.4) 0.0  
Net cash used in investing activities (263.2) (70.4)  
Cash from financing activities:      
Proceeds from issuance of senior notes and other long-term debt 1.2 399.3  
Repayments of senior notes and other long-term debt (0.8) (0.3)  
Borrowings under credit facilities 0.0 1,567.4  
Repayments under credit facilities 0.0 (215.0)  
(Repayments) borrowings under commercial paper programs, net 811.9 (250.4)  
Payment of costs related to debt financing 0.0 (3.9)  
Proceeds from exercise of stock options 21.1 30.0  
Distributions to and purchases of noncontrolling interests (7.6) (8.1)  
Purchase of treasury stock (152.8) (257.2)  
Dividend payments (86.8) (74.4)  
Net cash provided by financing activities 586.2 1,187.4  
Effect of exchange rate changes on cash and cash equivalents (18.4) (20.2)  
Net change in cash and cash equivalents 625.6 1,481.1  
Cash and cash equivalents balance, beginning of period 1,702.0 891.2 $ 891.2
Cash and cash equivalents balance, end of period 2,327.6 2,372.3 $ 1,702.0
Cash paid for:      
Interest 28.1 22.0  
Income taxes, net $ 75.2 $ 64.2