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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net income $ 218.2 $ 195.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 110.2 111.6
Deferred income tax (benefit) provision (2.1) 1.6
Gain on sales of property, plant and equipment (3.9) (0.4)
Stock-based compensation expense 14.9 11.4
Other 5.6 2.5
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (215.4) (106.2)
Inventories (216.5) (126.6)
Prepaid expenses and other assets 1.4 20.7
Accounts payable and other liabilities 102.8 95.0
Net cash provided by operating activities 15.2 205.2
Investing activities:    
Purchases of property, plant and equipment (72.8) (71.7)
Acquisitions, net of cash acquired (1.3) (322.4)
Other 7.2 (1.3)
Net cash used in investing activities (66.9) (395.4)
Financing activities:    
Net short-term debt borrowings (repayments) 3.3 (13.5)
Proceeds from long-term debt borrowings 541.0 613.0
Principal payments on long-term debt (406.7) (365.1)
Dividends and dividend equivalents paid (66.5) (58.0)
Exercise of stock options 2.8 30.1
Other (3.3) (3.6)
Net cash provided by financing activities 70.6 202.9
Effect of exchange rate changes on cash 4.8 (0.5)
Increase in cash and cash equivalents 23.7 12.2
Cash and cash equivalents at beginning of year 122.8 104.3
Cash and cash equivalents at end of period 146.5 116.5
Supplemental cash flow information:    
Interest paid during the period 36.1 41.3
Income taxes paid during the period, net $ 107.1 $ 58.0