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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash from operating activities:          
Net income $ 518.3 $ 500.5 $ 1,426.4 $ 1,405.8  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 101.0 102.7 291.4 284.6  
Stock-based compensation expense     72.4 64.2  
Deferred income tax provision (benefit)     (7.1) 17.6  
Gain on bargain purchase acquisition 0.0 0.0 (5.4) 0.0  
Net change in components of working capital     (81.2) (274.3)  
Net change in other long-term assets and liabilities     (9.6) (28.6)  
Net cash provided by operating activities     1,686.9 1,469.3  
Cash from investing activities:          
Capital expenditures     (267.8) (290.2)  
Proceeds from disposals of property, plant and equipment     2.1 4.5  
Purchases of investments     (218.8) (304.6)  
Sales and maturities of investments     67.8 220.6  
Acquisitions, net of cash acquired     (292.6) (288.2) $ (288.2)
Other, net     4.9 7.4  
Net cash used in investing activities     (704.4) (650.5)  
Cash from financing activities:          
Proceeds from issuance of senior notes and other long-term debt     354.0 2.9  
Repayments of senior notes and other long-term debt     (10.3) (7.5)  
Proceeds from short-term borrowings     0.0 44.9  
Repayments of short-term borrowings     0.0 (44.9)  
(Repayments) borrowings under commercial paper programs, net     (632.6) 111.9  
Payment of costs related to debt financing     (2.3) (0.4)  
Payment of deferred purchase price related to acquisitions     (1.5) 0.0  
Purchase of treasury stock     (469.8) (560.1)  
Proceeds from exercise of stock options     323.1 114.1  
Distributions to and purchases of noncontrolling interests     (8.0) (4.4)  
Dividend payments (125.1) (119.1) (375.0) (358.4)  
Net cash used in financing activities     (822.4) (701.9)  
Effect of exchange rate changes on cash and cash equivalents     (51.7) (125.0)  
Net increase (decrease) in cash and cash equivalents     108.4 (8.1)  
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 $ 1,481.5 $ 1,189.0 1,481.5 1,189.0 $ 1,373.1
Cash paid for:          
Interest     89.1 86.3  
Income taxes, net     $ 423.8 $ 387.8