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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income $ 326.5 $ 291.7 $ 262.3
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 401.4 109.3 103.2
Stock-based compensation expense 50.0 25.3 21.3
Below market intangible amortization (82.2) 0.0 0.0
Deferred income taxes (27.3) (5.3) (67.4)
Loss on disposal of property, plant and equipment 15.9 0.9 1.9
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable and unbilled accounts receivable (6.3) (54.6) (68.7)
Inventories 255.9 (108.9) (9.0)
Accounts payable (144.3) 48.8 (91.7)
Accrued income taxes 10.7 7.9 47.6
Accrued liabilities and customer deposits (11.9) 31.7 (18.9)
Other assets and liabilities 227.1 (32.1) 8.2
Net cash provided by operating activities 1,015.5 314.7 188.8
Investing Activities      
Purchase of property, plant and equipment (185.3) (93.3) (89.5)
Proceeds from disposal of property, plant and equipment 3.9 11.3 1.3
Acquisitions of business, net of cash acquired (2,996.4) (51.2) (945.3)
Other 0.0 (14.1) 0.0
Net cash used for investing activities (3,177.8) (147.3) (1,033.5)
Financing Activities      
Proceeds from debt, net of issuance costs 3,982.4 3,480.7 1,216.7
Payments of debt (3,423.6) (1,454.0) (1,269.5)
Proceeds from exercise of stock options and other benefit plans 0.8 10.0 4.4
Payment of income tax withholding on share-based compensation (6.3) (12.3) (6.8)
Payment of contingent consideration on acquisitions (10.1) 0.0 0.0
Cash dividends (81.7) (46.3) (42.2)
Net cash provided by (used for) financing activities 461.5 1,978.1 (97.4)
Effect of changes in currency exchange rates (37.3) (36.6) 32.3
(Decrease) increase in cash (1,738.1) 2,108.9 (909.8)
Cash, cash equivalents and restricted cash, beginning of year 2,342.3 233.4 1,143.2
Cash, cash equivalents and restricted cash, end of year $ 604.2 $ 2,342.3 $ 233.4