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Statements of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income $ 1,541.3 $ 1,108.7 $ 1,727.9
Adjustments to reconcile net income to net operating cash:      
Loss from discontinued operations 41.6
Depreciation 262.1 278.2 285.0
Non-cash lease expense 370.8    
Amortization of intangible assets 312.8 318.1 206.8
Amortization of inventory purchase accounting adjustments 113.8
Loss on extinguishment of debt 14.8    
Impairment of trademarks 122.1 2.0
Amortization of credit facility and debt issuance costs 9.2 12.1 8.3
Provisions for environmental-related matters 23.0 176.3 15.4
Provisions for qualified exit costs 8.8 14.9 50.5
Deferred income taxes (131.1) (143.4) (620.7)
Defined benefit pension plans net cost 43.1 36.4 18.2
Stock-based compensation expense 101.7 82.6 90.3
Net decrease in postretirement liability (14.4) (15.9) (17.9)
Decrease in non-traded investments 82.3 72.5 65.7
Loss on sale or disposition of assets 16.1 12.8 5.5
Other 15.8 (13.8) 1.1
Change in working capital accounts:      
(Increase) decrease in accounts receivable (73.2) 18.4 (49.9)
(Increase) in inventories (75.5) (119.5) (90.0)
Increase in accounts payable 36.2 113.8 166.7
Increase (decrease) in accrued taxes 5.1 2.7 (20.9)
Increase in accrued compensation and taxes withheld 49.6 4.6 11.3
(Increase) decrease in refundable income taxes (47.8) 20.1 (15.5)
(Decrease) increase in California litigation accrual (59.6) 136.3
Other 18.8 (46.7) 16.3
Change in operating lease liabilities (368.4)    
Costs incurred for environmental-related matters (26.1) (17.7) (13.8)
Costs incurred for qualified exit costs (12.8) (21.2) (45.4)
Other 96.6 (86.6) (68.3)
Net operating cash 2,321.3 1,943.7 1,884.0
Investing Activities      
Capital expenditures (328.9) (251.0) (222.8)
Acquisitions of businesses, net of cash acquired (77.3) (8,810.3)
Proceeds from sale of assets 6.9 38.4 47.2
Increase in other investments (63.3) (39.0) (61.5)
Net investing cash (462.6) (251.6) (9,047.4)
Financing Activities      
Net (decrease) increase in short-term borrowings (122.8) (300.9)  
Net (decrease) increase in short-term borrowings     356.3
Proceeds from long-term debt 1,332.8 8,275.2
Payments of long-term debt (1,875.8) (852.6) (1,852.8)
Payments for credit facility and debt issuance costs (13.6) (5.2) (49.4)
Payments of cash dividends (420.8) (322.9) (319.0)
Proceeds from stock options exercised 154.6 90.7 143.6
Treasury stock purchased (778.8) (613.3)
Proceeds from real estate financing transactions 7.2 225.3  
Other (129.2) 32.2 (39.8)
Net financing cash (1,846.4) (1,746.7) 6,514.1
Effect of exchange rate changes on cash (6.0) 5.9 (36.3)
Net increase (decrease) in cash and cash equivalents 6.3 (48.7) (685.6)
Cash and cash equivalents at beginning of year 155.5 204.2 889.8
Cash and cash equivalents at end of year 161.8 155.5 204.2
Taxes paid on income 407.5 292.2 419.7
Interest paid on debt $ 336.1 $ 368.0 $ 220.6