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CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 370.8 $ 409.6
Adjustments to reconcile net income to net operating cash:    
Depreciation 65.5 65.4
Non-cash lease expense 109.9 97.5
Amortization of intangible assets 78.0 79.2
Loss on divestiture of business 0.0 111.9
Amortization of credit facility and debt issuance costs 1.7 1.5
Stock-based compensation expense 26.8 13.5
Provisions for environmental-related matters 0.6 2.5
Defined benefit pension plans net cost 1.4 2.3
Deferred income taxes (11.6) (26.0)
Other 17.4 5.3
Change in working capital accounts - net (498.2) (495.0)
Change in operating lease liabilities (110.4) (98.0)
Costs incurred for environmental-related matters (5.0) (9.4)
Other (20.6) 35.4
Net operating cash 26.3 195.7
INVESTING ACTIVITIES    
Capital expenditures (106.3) (64.3)
Acquisitions of businesses, net of cash acquired (0.4) (24.9)
Proceeds from divestiture of business 0.0 116.2
Proceeds from sale of assets 10.8 0.9
Other (99.7) (34.3)
Net investing cash (195.6) (6.4)
FINANCING ACTIVITIES    
Net increase in short-term borrowings 972.2 818.0
Payments of cash dividends (150.9) (151.8)
Proceeds from stock options exercised 11.6 38.4
Treasury stock purchased (407.1) (775.4)
Proceeds from treasury stock issued 22.0 0.0
Other (32.1) (24.0)
Net financing cash 415.7 (94.8)
Effect of exchange rate changes on cash (11.0) (6.4)
Net increase in cash and cash equivalents 235.4 88.1
Cash and cash equivalents at beginning of year 165.7 226.6
Cash and cash equivalents at end of period 401.1 314.7
Income taxes paid 38.9 25.6
Interest paid $ 76.1 $ 72.4