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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash from operating activities:      
Net income $ 552.0 $ 442.7  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 103.8 96.3  
Stock-based compensation expense 23.8 21.7  
Deferred income tax provision (benefit) 1.9 0.1  
Net change in components of working capital (73.9) (23.8)  
Net change in other long-term assets and liabilities (8.1) (4.6)  
Net cash provided by operating activities 599.5 532.4  
Cash from investing activities:      
Capital expenditures (94.3) (97.7)  
Proceeds from disposals of property, plant and equipment 0.5 0.8  
Purchases of investments (11.9) (56.7)  
Sales and maturities of investments 87.6 10.0  
Acquisitions, net of cash acquired 0.0 (113.2)  
Other, net 1.1 0.2  
Net cash used in investing activities (17.0) (256.6)  
Cash from financing activities:      
Proceeds from issuance of senior notes and other long-term debt 0.0 350.2  
Repayments of senior notes and other long-term debt (1.1) (3.1)  
(Repayments) borrowings under commercial paper programs, net 0.0 (387.5)  
Payment of costs related to debt financing (2.9) (2.3)  
Purchase of treasury stock (153.8) (166.9)  
Proceeds from exercise of stock options 113.3 74.3  
Distributions to and purchases of noncontrolling interests 0.0 (5.2)  
Dividend payments (131.7) (124.9)  
Net cash used in financing activities (176.2) (265.4)  
Effect of exchange rate changes on cash and cash equivalents (24.2) 7.6  
Net increase (decrease) in cash and cash equivalents 382.1 18.0  
Cash and cash equivalents balance, beginning of period 1,475.0 1,373.1 $ 1,373.1
Cash and cash equivalents balance, end of period 1,857.1 1,391.1 $ 1,475.0
Cash paid for:      
Interest 32.8 34.9  
Income taxes, net $ 130.1 $ 116.1