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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net income $ 113.4 $ 93.5
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 55.2 56.1
Deferred income tax provision 0.2 2.3
Gain on sales of property, plant and equipment (3.9) (0.5)
Stock-based compensation expense 5.5 3.3
Other 4.0 1.0
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (186.7) (80.3)
Inventories (146.5) (29.3)
Prepaid expenses and other assets 9.2 17.0
Accounts payable and other liabilities 128.9 92.3
Net cash (used in) provided by operating activities (20.7) 155.4
Investing activities:    
Purchases of property, plant and equipment (34.1) (34.4)
Acquisitions, net of cash acquired (1.3) (290.9)
Other 3.4 (6.2)
Net cash used in investing activities (32.0) (331.5)
Financing activities:    
Net short-term debt repayments (3.8) (6.2)
Proceeds from long-term debt borrowings 339.0 399.0
Principal payments on long-term debt (242.1) (188.0)
Dividends and dividend equivalents paid (33.7) (29.0)
Exercise of stock options 2.8 16.5
Other (1.8) (2.6)
Net cash provided by financing activities 60.4 189.7
Effect of exchange rate changes on cash 3.3 2.6
Increase in cash and cash equivalents 11.0 16.2
Cash and cash equivalents at beginning of year 122.8 104.3
Cash and cash equivalents at end of period 133.8 120.5
Supplemental cash flow information:    
Interest paid during the period 8.1 5.1
Income taxes paid during the period, net $ 3.0 $ 5.7