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CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 948.7 $ 1,058.2
Adjustments to reconcile net income to net operating cash:    
Depreciation 130.3 136.4
Non-cash lease expense 208.4 194.5
Amortization of intangible assets 156.5 157.0
Loss on divestiture of business 0.0 111.9
Amortization of credit facility and debt issuance costs 3.3 3.2
Stock-based compensation expense 53.7 39.0
Provisions for environmental-related matters 4.7 5.0
Defined benefit pension plans net cost 2.8 3.9
Deferred income taxes (24.2) (19.2)
Other 32.8 26.4
Change in working capital accounts - net (668.1) (338.1)
Change in operating lease liabilities (209.4) (196.7)
Costs incurred for environmental-related matters (12.0) (21.3)
Other 12.2 41.1
Net operating cash 639.7 1,201.3
INVESTING ACTIVITIES    
Capital expenditures (235.8) (151.4)
Acquisitions of businesses, net of cash acquired (211.8) (25.3)
Proceeds from divestiture of business 0.0 116.2
Proceeds from sale of assets 14.9 13.1
Other (41.2) (25.1)
Net investing cash (473.9) (72.5)
FINANCING ACTIVITIES    
Net increase in short-term borrowings 1,248.5 761.9
Payments of long-term debt (260.2) 0.0
Payments for credit facility and debt issuance costs 0.0 (1.7)
Payments of cash dividends (307.1) (297.7)
Proceeds from stock options exercised 26.3 68.2
Treasury stock purchased (703.5) (1,645.5)
Proceeds from treasury stock issued 22.0 11.7
Other (34.0) (22.2)
Net financing cash (8.0) (1,125.3)
Effect of exchange rate changes on cash (10.9) (10.5)
Net increase (decrease) in cash and cash equivalents 146.9 (7.0)
Cash and cash equivalents at beginning of year 165.7 226.6
Cash and cash equivalents at end of period 312.6 219.6
Income taxes paid 177.2 219.5
Interest paid $ 177.9 $ 166.6