XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 171.1 $ 113.4
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 54.1 55.2
Deferred income tax provision 1.1 0.2
Gain on sales of property, plant and equipment (0.1) (3.9)
Stock-based compensation expense 6.4 5.5
Other 3.0 4.0
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (230.6) (186.7)
Inventories (169.8) (146.5)
Prepaid expenses and other assets 15.9 9.2
Accounts payable and other liabilities 162.2 128.9
Net cash provided by (used in) operating activities 13.3 (20.7)
Investing activities:    
Purchases of property, plant and equipment (41.8) (34.1)
Acquisitions, net of cash acquired (39.6) (1.3)
Other 4.1 3.4
Net cash used in investing activities (77.3) (32.0)
Financing activities:    
Net short-term debt borrowings (repayments) 1.0 (3.8)
Proceeds from long-term debt borrowings 398.0 339.0
Principal payments on long-term debt (253.7) (242.1)
Dividends and dividend equivalents paid (38.5) (33.7)
Exercise of stock options 2.8 2.8
Share repurchases (49.3)  
Other (5.4) (1.8)
Net cash provided by financing activities 54.9 60.4
Effect of exchange rate changes on cash and cash equivalents 0.1 3.3
(Decrease) increase in cash and cash equivalents (9.0) 11.0
Cash and cash equivalents at beginning of year 154.4 122.8
Cash and cash equivalents at end of period 145.4 133.8
Supplemental cash flow information:    
Interest paid during the period 9.0 8.1
Income taxes paid during the period, net $ 9.0 $ 3.0