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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash from operating activities:          
Net income $ 1,100.8 $ 528.7 $ 1,845.0 $ 1,080.8  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 209.4 123.6 445.7 227.4  
Stock-based compensation expense     57.9 50.4  
Deferred income tax benefit     (35.4) (19.3)  
Net change in components of working capital     (374.3) (69.8)  
Net change in other long-term assets and liabilities     242.8 (5.9)  
Net cash provided by operating activities     2,181.7 1,263.6  
Cash from investing activities:          
Capital expenditures     (485.7) (235.6)  
Proceeds from disposals of property, plant and equipment     5.7 5.4  
Purchases of investments     (12.6) (13.4)  
Sales and maturities of investments     11.6 145.8  
Acquisitions, net of cash acquired     (2,483.2) (2,099.8) $ (2,156.4)
Other, net     0.0 1.9  
Net cash used in investing activities     (2,964.2) (2,195.7)  
Cash from financing activities:          
Proceeds from issuance of senior notes and other long-term debt     1,430.0 1,500.1  
Repayments of senior notes and other long-term debt     (400.9) (351.8)  
Borrowings (repayments) under commercial paper programs, net     0.0 0.0  
Payment of costs related to debt financing     (9.1) (14.7)  
Purchase of treasury stock     (341.0) (344.2)  
Proceeds from exercise of stock options     333.8 234.7  
Distributions to and purchases of noncontrolling interests     (1.9) (17.5)  
Dividend payments (199.6) (132.1) (399.1) (263.8)  
Other, net     0.5 0.6  
Net cash provided by financing activities     612.3 743.4  
Effect of exchange rate changes on cash and cash equivalents     60.2 (33.8)  
Net decrease in cash and cash equivalents     (110.0) (222.5)  
Cash and cash equivalents balance, beginning of period     3,317.0 1,475.0 1,475.0
Cash and cash equivalents balance, end of period $ 3,207.0 $ 1,252.5 3,207.0 1,252.5 $ 3,317.0
Cash paid for:          
Interest     139.3 71.2  
Income taxes, net     $ 502.4 $ 359.2