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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash from operating activities:      
Net income $ 442.7 $ 429.2  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 96.3 91.1  
Stock-based compensation expense 21.7 19.7  
Deferred income tax provision (benefit) 0.1 13.4  
Net change in components of working capital (23.8) (182.9)  
Net change in other long-term assets and liabilities (4.6) (19.7)  
Net cash provided by operating activities 532.4 350.8  
Cash from investing activities:      
Capital expenditures (97.7) (78.1)  
Proceeds from disposals of property, plant and equipment 0.8 1.8  
Purchases of investments (56.7) (100.3)  
Sales and maturities of investments 10.0 35.8  
Acquisitions, net of cash acquired (113.2) 0.0 $ (288.2)
Other, net 0.2 (3.3)  
Net cash used in investing activities (256.6) (144.1)  
Cash from financing activities:      
Proceeds from issuance of senior notes and other long-term debt 350.2 0.2  
Repayments of senior notes and other long-term debt (3.1) (2.5)  
Proceeds from short-term borrowings 0.0 20.1  
(Repayments) borrowings under commercial paper programs, net (387.5) 138.4  
Payment of costs related to debt financing (2.3) 0.0  
Purchase of treasury stock (166.9) (204.0)  
Proceeds from exercise of stock options 74.3 20.0  
Distributions to and purchases of noncontrolling interests (5.2) (3.6)  
Dividend payments (124.9) (119.8)  
Net cash used in financing activities (265.4) (151.2)  
Effect of exchange rate changes on cash and cash equivalents 7.6 (5.1)  
Net increase (decrease) in cash and cash equivalents 18.0 50.4  
Cash and cash equivalents balance, beginning of period 1,373.1 1,197.1 1,197.1
Cash and cash equivalents balance, end of period 1,391.1 1,247.5 $ 1,373.1
Cash paid for:      
Interest 34.9 27.6  
Income taxes, net $ 116.1 $ 93.8