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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net income $ 554.5 $ 317.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 161.8 164.2
Impairment of long-lived assets 35.5 2.8
Provision for uncollectible accounts 8.4 6.3
Deferred income tax benefit (9.9) (4.7)
Gain on sales of property, plant and equipment (1.2) (8.4)
Stock-based compensation expense 33.8 23.3
Other 6.8 4.9
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (339.6) (208.9)
Inventories (352.2) (235.5)
Prepaid expenses and other assets 9.9 12.6
Accounts payable and other liabilities 125.5 124.5
Net cash provided by operating activities 233.3 198.3
Investing activities:    
Purchases of property, plant and equipment (152.6) (118.1)
Acquisitions, net of cash acquired (55.6) (1.3)
Proceeds from sales of property, plant and equipment 8.8 14.0
Other 10.4 5.6
Net cash used in investing activities (189.0) (99.8)
Financing activities:    
Net short-term debt (repayments) borrowings (24.6) 3.6
Proceeds from long-term debt borrowings 941.0 674.0
Principal payments on long-term debt (752.5) (634.5)
Dividends and dividend equivalents paid (110.5) (99.3)
Exercise of stock options 2.8 3.4
Share repurchases (130.1)  
Other (9.9) (5.3)
Net cash used in financing activities (83.8) (58.1)
Effect of exchange rate changes on cash and cash equivalents (2.8) 7.0
(Decrease) increase in cash and cash equivalents (42.3) 47.4
Cash and cash equivalents at beginning of year 154.4 122.8
Cash and cash equivalents at end of period 112.1 170.2
Supplemental cash flow information:    
Interest paid during the period 50.6 44.2
Income taxes paid during the period, net 171.4 $ 135.2
Non-cash investing and financing activities:    
Debt assumed in connection with acquisitions $ 3.3