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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Consolidated net earnings $ 1,169.4 $ 866.8 $ 702.8
Adjustments to reconcile consolidated net earnings to net cash provided by operating activities:      
Depreciation, depletion and amortization 513.2 506.0 451.7
Stock-based compensation expense 50.0 42.7 43.0
Net gains on divestitures, sales of assets and extinguishment of debt (1.9) (195.7) (21.7)
Deferred income taxes, net (36.1) (0.6) 92.2
Other items, net (16.5) (11.7) (14.9)
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:      
Accounts receivable, net 31.4 (12.1) (194.4)
Inventories, net (188.7) (131.7) 73.2
Accounts payable (17.0) (31.2) 109.8
Other assets and liabilities, net 24.6 (41.3) (104.0)
Net Cash Provided by Operating Activities 1,528.4 991.2 1,137.7
Cash Flows from Investing Activities:      
Additions to property, plant and equipment (650.3) (481.8) (423.1)
Acquisitions, net of cash acquired 0.0 11.0 (3,109.2)
Proceeds from divestitures and sales of assets 426.5 687.1 42.8
Proceeds from sale of restricted investments to discharge long term debt 700.0 0.0 0.0
Purchase of restricted investments to discharge long-term debt 0.0 (704.6) 0.0
Repayment of note receivable from affiliate 6.0 0.0 0.0
Investments in life insurance contracts, net 7.4 7.5 14.9
Investments in limited liability company (27.0) 0.0 0.0
Other investing activities, net (3.9) (3.0) 0.0
Net Cash Provided by (Used for) Investing Activities 458.7 (483.8) (3,474.6)
Cash Flows from Financing Activities:      
Borrowings of long-term debt 0.0 0.0 2,896.7
Repayments of long-term debt (700.0) (54.5) (420.1)
Debt issuance and extinguishment costs (0.7) (0.7) (7.5)
Payments on finance lease obligations (17.6) (15.0) (11.1)
Dividends paid (174.0) (159.1) (147.8)
Repurchases of common stock (150.0) (150.0) 0.0
Contributions by noncontrolling interest to joint venture 0.1 0.0 0.0
Distributions to owners of noncontrolling interest (0.5) 0.0 (0.6)
Proceeds from exercise of stock options 1.2 0.6 1.3
Shares withheld for employees’ income tax obligations (22.1) (28.8) (19.5)
Net Cash (Used for) Provided by Financing Activities (1,063.6) (407.5) 2,291.4
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 923.5 99.9 (45.5)
Cash, Cash Equivalents and Restricted Cash, beginning of year 358.8 258.9 304.4
Cash, Cash Equivalents and Restricted Cash, end of year $ 1,282.3 $ 358.8 $ 258.9