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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 874.7 $ 901.5 $ 419.8
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 209.5 220.7 212.5
Impairment charges 36.0 0.0 20.0
Amortization of intangibles 60.1 61.1 59.5
Stock compensation expense 34.0 27.4 37.6
Equity in net earnings of affiliates, net of cash received (40.8) (1.9) (43.7)
Deferred income tax (benefit) provision (58.0) (117.9) 3.4
Other 16.2 20.5 (7.4)
Changes in operating assets and liabilities, net of effects from purchase of businesses:      
Accounts and notes receivable, net (306.1) (207.7) (90.5)
Inventories, net (668.3) (762.6) 119.7
Other current and noncurrent assets 20.1 (268.0) (49.8)
Accounts payable 322.1 292.2 (59.1)
Accrued expenses 282.7 241.2 185.3
Other current and noncurrent liabilities 56.0 253.7 89.2
Total adjustments (36.5) (241.3) 476.7
Net cash provided by operating activities 838.2 660.2 896.5
Cash flows from investing activities:      
Purchases of property, plant and equipment (388.3) (269.8) (269.9)
Proceeds from sale of property, plant and equipment 2.6 6.3 1.9
Purchase of businesses, net of cash acquired (111.3) (22.6) (2.8)
Sale of, distributions from (investments in) unconsolidated affiliates, net 4.0 13.1 29.1
Other (3.8) (15.4) 0.0
Net cash used in investing activities (496.8) (288.4) (241.7)
Cash flows from financing activities:      
Proceeds from indebtedness 410.5 2,497.6 1,195.6
Repayments of indebtedness (377.5) (2,501.4) (1,045.6)
Purchases and retirement of common stock 0.0 (135.0) (55.0)
Payment of dividends to stockholders (404.3) (358.5) (48.0)
Payment of minimum tax withholdings on stock compensation (20.6) (34.9) (19.8)
Payment of debt issuance costs (3.6) (3.8) (1.4)
Distributions to noncontrolling interests, net (11.5) (3.5) (3.1)
Net cash (used in) provided by financing activities (407.0) (539.5) 22.7
Effect of exchange rate changes on cash, cash equivalents and restricted cash (34.0) (62.3) 8.8
(Decrease) increase in cash, cash equivalents and restricted cash (99.6) (230.0) 686.3
Cash, cash equivalents and restricted cash, beginning of year 889.1 1,119.1 432.8
Cash, cash equivalents and restricted cash, end of year $ 789.5 $ 889.1 $ 1,119.1