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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 143.6 $ 375.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 114.4 108.4
Impairment of long-lived assets 97.9 1.2
Provision for uncollectible accounts 7.0 3.8
Deferred income tax benefit (33.3) (0.2)
Stock-based compensation expense 18.0 22.1
Other 13.3 1.8
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable 136.0 (111.1)
Inventories 150.5 31.2
Prepaid expenses and other assets 55.5 35.3
Accounts payable and other liabilities (56.4) (5.2)
Net cash provided by operating activities 646.5 463.2
Investing activities:    
Purchases of property, plant and equipment (96.5) (123.9)
Acquisitions, net of cash acquired   (1.0)
Other 0.1 7.0
Net cash used in investing activities (96.4) (117.9)
Financing activities:    
Proceeds from long-term debt borrowings 770.0 616.0
Principal payments on long-term debt (868.0) (811.0)
Dividends and dividend equivalents paid (81.8) (76.5)
Share repurchases (300.0) (50.0)
Noncontrolling interest purchased (8.0)  
Other (5.8) (11.6)
Net cash used in financing activities (493.6) (333.1)
Effect of exchange rate changes on cash and cash equivalents (8.1) 1.1
Increase in cash and cash equivalents 48.4 13.3
Cash and cash equivalents at beginning of year 174.3 128.2
Cash and cash equivalents at end of period 222.7 141.5
Supplemental cash flow information:    
Interest paid during the period 30.1 46.8
Income taxes paid during the period, net $ 16.1 $ 123.9