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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 168.0 $ 232.6
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 63.3 53.6
Amortization of intangibles 13.9 14.8
Stock compensation expense 8.4 14.0
Equity in net earnings of affiliates, net of cash received (16.2) (16.4)
Deferred income tax benefit (7.3) (3.9)
Other 17.7 2.4
Changes in operating assets and liabilities:    
Accounts and notes receivable, net 24.1 (298.1)
Inventories, net (420.1) (402.6)
Other current and noncurrent assets 16.8 (69.9)
Accounts payable 74.2 39.2
Accrued expenses (358.2) (155.9)
Other current and noncurrent liabilities 45.4 33.1
Total adjustments (538.0) (789.7)
Net cash used in operating activities (370.0) (557.1)
Cash flows from investing activities:    
Purchases of property, plant and equipment (95.0) (125.3)
Proceeds from sale of property, plant and equipment 0.2 0.1
Purchase of businesses, net of cash acquired 0.0 (0.9)
Investments in unconsolidated affiliates, net 0.0 (0.1)
Other 0.0 (2.6)
Net cash used in investing activities (94.8) (128.8)
Cash flows from financing activities:    
Proceeds from indebtedness 2,380.6 501.7
Repayments of indebtedness (0.4) (4.4)
Payment of dividends to stockholders (21.6) (18.0)
Payment of minimum tax withholdings on stock compensation (9.7) (17.7)
Payment of debt issuance costs (11.9) 0.0
Net cash provided by financing activities 2,337.0 461.6
Effects of exchange rate changes on cash, cash equivalents and restricted cash (11.9) (6.5)
Increase (decrease) in cash, cash equivalents and restricted cash 1,860.3 (230.8)
Cash, cash equivalents and restricted cash, beginning of period 595.5 789.5
Cash, cash equivalents and restricted cash, end of period $ 2,455.8 $ 558.7