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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:      
Net income $ 309.1 $ 316.2 $ 376.3
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 222.0 218.5 213.8
Impairment of long-lived assets 52.4 53.3  
Deferred income tax benefit (0.5) (17.1) (18.2)
Gain on sales of property, plant and equipment (1.2) (2.2) (12.9)
Stock-based compensation expense 24.4 21.3 22.8
Other 7.7 9.8 (4.9)
Changes in operating assets and liabilities (excluding effect of businesses acquired):      
Accounts receivable (31.2) 222.5 (97.2)
Inventories (30.4) 306.8 (131.0)
Prepaid expenses and other assets 26.7 (25.2) 31.5
Accounts payable and other liabilities 47.5 (78.9) (24.2)
Net cash provided by operating activities 626.5 1,025.0 356.0
Investing activities:      
Purchases of property, plant and equipment (154.9) (172.2) (190.4)
Acquisitions, net of cash acquired (348.7) (0.4) (208.2)
Proceeds from sale of business, net     26.2
Other (1.5) 2.7 7.4
Net cash used in investing activities (505.1) (169.9) (365.0)
Financing activities:      
Net short-term debt (repayments) borrowings (12.6) 12.7 1.7
Proceeds from long-term debt borrowings 2,073.0 573.0 719.0
Principal payments on long-term debt (2,061.4) (962.3) (552.2)
Debt issuance costs (6.8)    
Dividends and dividend equivalents paid (120.4) (120.1) (108.7)
Exercise of stock options 37.5 15.1 28.8
Share repurchases   (355.5) (50.0)
Other (9.5) (11.4) (5.6)
Net cash (used in) provided by financing activities (100.2) (848.5) 33.0
Effect of exchange rate changes on cash (2.7) (8.5) (1.4)
Increase (decrease) in cash and cash equivalents 18.5 (1.9) 22.6
Cash and cash equivalents at beginning of year 104.3 106.2 83.6
Cash and cash equivalents at end of year 122.8 104.3 106.2
Supplemental cash flow information:      
Interest paid during the year 81.4 82.0 82.4
Income taxes paid during the year, net 95.1 $ 204.9 134.2
Non-cash investing and financing activities:      
Debt assumed in connection with acquisitions $ 6.1   $ 39.2