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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities:    
Net income $ 246.2 $ 247.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 166.7 164.6
Impairment of long-lived assets 51.7 53.3
Deferred income tax provision (benefit) 0.5 (3.2)
Gain on sales of property, plant and equipment (1.1) (1.9)
Stock-based compensation expense 17.8 17.6
Other 5.9 7.7
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (112.0) 65.4
Inventories (95.5) 156.8
Prepaid expenses and other assets 35.2 (16.1)
Accounts payable and other liabilities 72.2 24.8
Net cash provided by operating activities 387.6 716.3
Investing activities:    
Purchases of property, plant and equipment (110.6) (119.4)
Acquisitions, net of cash acquired (349.0)  
Other 1.6 5.6
Net cash used in investing activities (458.0) (113.8)
Financing activities:    
Net short-term debt (repayments) borrowings (11.9) 9.9
Proceeds from long-term debt borrowings 1,713.0 510.0
Principal payments on long-term debt (1,525.2) (729.0)
Debt issuance costs (6.8)  
Dividends and dividend equivalents paid (89.5) (90.7)
Exercise of stock options 31.3 11.0
Share repurchases   (313.9)
Other (4.1) (5.5)
Net cash provided by (used in) financing activities 106.8 (608.2)
Effect of exchange rate changes on cash 2.6 (6.4)
Increase (decrease) in cash and cash equivalents 39.0 (12.1)
Cash and cash equivalents at beginning of year 104.3 106.2
Cash and cash equivalents at end of period 143.3 94.1
Supplemental cash flow information:    
Interest paid during the period 47.0 46.5
Income taxes paid during the period, net 67.2 $ 168.3
Non-cash investing and financing activities:    
Debt assumed in connection with acquisition $ 6.1