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Statements of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 1,864.4 $ 2,030.4 $ 1,541.3
Adjustments to reconcile net income to net operating cash:      
Depreciation 263.1 268.0 262.1
Non-cash lease expense 400.7 381.3 370.8
Amortization of intangible assets 309.5 313.4 312.8
Loss on divestiture of business 111.9 0.0 0.0
(Gain) loss on extinguishment of debt (1.4) 21.3 14.8
Impairment of trademarks 0.0 2.3 122.1
Amortization of credit facility and debt issuance costs 6.4 7.2 9.2
Provisions for environmental-related matters (4.0) 37.1 23.0
Deferred income taxes (80.3) (145.3) (131.1)
Defined benefit pension plans net cost 6.8 7.6 43.1
Stock-based compensation expense 97.7 95.9 101.7
Decrease in non-traded investments 53.6 84.8 82.3
(Gain) loss on sale or disposition of assets (6.1) (9.4) 16.1
Other (6.4) (6.9) 10.2
Change in working capital accounts:      
(Increase) decrease in accounts receivable (287.8) 10.3 (73.2)
(Increase) decrease in inventories (228.1) 84.4 (75.5)
Increase in accounts payable 346.1 227.2 36.2
(Decrease) increase in accrued taxes (32.7) 99.2 5.1
(Decrease) increase in accrued compensation and taxes withheld (10.9) 197.7 49.6
(Increase) decrease in refundable income taxes (38.5) 40.6 (47.8)
Other (46.8) (62.0) (40.8)
Change in operating lease liabilities (401.4) (371.4) (368.4)
Costs incurred for environmental-related matters (41.3) (39.0) (26.1)
Other (29.9) 133.9 83.8
Net operating cash 2,244.6 3,408.6 2,321.3
Investing Activities      
Capital expenditures (372.0) (303.8) (328.9)
Acquisitions of businesses, net of cash acquired (210.9) 0.0 (77.3)
Proceeds from divestiture of business 122.5 0.0 0.0
Proceeds from sale of assets 14.8 60.7 6.9
Other (30.8) (79.3) (63.3)
Net investing cash (476.4) (322.4) (462.6)
Financing Activities      
Net increase (decrease) in short-term borrowings 763.9    
Net increase (decrease) in short-term borrowings   (204.6) (122.8)
Proceeds from long-term debt 994.8 999.0 1,332.8
Payments of long-term debt (422.9) (1,204.7) (1,875.8)
Payments for credit facility and debt issuance costs (11.5) (10.0) (13.6)
Payments of cash dividends (587.1) (488.0) (420.8)
Proceeds from stock options exercised 192.8 182.7 154.6
Treasury stock purchased (2,752.3) (2,446.3) (778.8)
Proceeds from treasury stock issued 11.7 182.4
Other (23.4) (30.6) (122.0)
Net financing cash (1,834.0) (3,020.1) (1,846.4)
Effect of exchange rate changes on cash 4.9 (1.3) (6.0)
Net (decrease) increase in cash and cash equivalents (60.9) 64.8 6.3
Cash and cash equivalents at beginning of year 226.6 161.8 155.5
Cash and cash equivalents at end of year 165.7 226.6 161.8
Taxes paid on income 466.3 437.2 407.5
Interest paid on debt $ 338.8 $ 340.8 $ 336.1