XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.3
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 772.0 $ 1,066.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 198.1 182.5
Stock-based compensation expense 43.0 48.4
Other 5.0 7.5
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (51.9) (102.0)
Inventories (52.3) (113.5)
Prepaid expenses and other assets 105.7 91.1
Accounts payable and other liabilities (63.1) (35.0)
Net cash provided by operating activities 956.5 1,145.7
Investing activities:    
Acquisitions, net of cash acquired (366.7) (24.1)
Purchases of property, plant and equipment (319.7) (358.6)
Other 13.0 14.9
Net cash used in investing activities (673.4) (367.8)
Financing activities:    
Net short-term debt repayments   (2.2)
Proceeds from long-term debt borrowings 663.0  
Principal payments on long-term debt (538.0) (505.7)
Cash dividends and dividend equivalents (188.5) (179.3)
Share repurchases (951.3) (239.2)
Taxes paid related to net share settlement of restricted stock units (29.6) (41.3)
Other (4.3) (3.0)
Net cash used in financing activities (1,048.7) (970.7)
Effect of exchange rate changes on cash and cash equivalents   (3.7)
Decrease in cash and cash equivalents (765.6) (196.5)
Cash and cash equivalents at beginning of year 1,080.2 1,173.4
Cash and cash equivalents at end of the period 314.6 976.9
Supplemental cash flow information:    
Interest paid during the period 27.7 32.5
Income taxes paid during the period, net $ 197.1 $ 305.2