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STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income $ 1,271.1 $ 948.7
Adjustments to reconcile net income to net operating cash:    
Depreciation 146.1 130.3
Non-cash lease expense 225.0 208.4
Amortization of intangible assets 166.7 156.5
Gain on divestiture of business (20.1) 0.0
Impairment 34.0 0.0
Amortization of credit facility and debt issuance costs 4.5 3.3
Stock-based compensation expense 46.0 53.7
Amortization of non-traded investments 39.7 21.4
(Gain) loss on sale or disposition of assets (20.8) 2.2
Provisions for environmental-related matters 13.3 4.7
Provisions for restructuring 15.3 0.0
Defined benefit pension plans net cost 1.7 2.8
Other postretirement benefit plan net cost (9.0) 0.0
Deferred income taxes (27.1) (24.2)
Other 5.1 9.2
Change in working capital accounts - net (239.1) (668.1)
Change in operating lease liabilities (226.4) (209.4)
Costs incurred for environmental-related matters (12.4) (12.0)
Other (119.0) 12.2
Net operating cash 1,294.6 639.7
INVESTING ACTIVITIES    
Capital expenditures (416.0) (235.8)
Acquisitions of businesses, net of cash acquired (23.2) (211.8)
Proceeds from divestiture of business 33.0 0.0
Proceeds from sale of assets 47.2 14.9
Other (58.9) (41.2)
Net investing cash (417.9) (473.9)
FINANCING ACTIVITIES    
Net (decrease) increase in short-term borrowings   1,248.5
Net (decrease) increase in short-term borrowings (171.6)  
Payments of long-term debt 0.0 (260.2)
Payments of cash dividends (312.8) (307.1)
Proceeds from stock options exercised 35.3 26.3
Treasury stock purchased (535.9) (703.5)
Proceeds from treasury stock issued 0.0 22.0
Proceeds from real estate financing transactions 140.2 0.0
Other (24.8) (34.0)
Net financing cash (869.6) (8.0)
Effect of exchange rate changes on cash 3.5 (10.9)
Net increase in cash and cash equivalents 10.6 146.9
Cash and cash equivalents at beginning of year 198.8 165.7
Cash and cash equivalents at end of period 209.4 312.6
Income taxes paid 305.6 177.2
Interest paid $ 219.7 $ 177.9