XML 50 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net income $ 1,329.9 $ 1,035.6 $ 850.3
Income from discontinued operations (1.7) (47.0) (44.2)
(Gain) loss on disposal of discontinued operations (304.8) (2.5) 1.0
Income from continuing operations 1,023.4 986.1 807.1
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Depreciation and amortization 859.6 739.7 759.3
Change in deferred income taxes (123.1) (266.5) (242.7)
Non-cash stock-based compensation 80.0 81.6 66.7
Non-cash interest expense on convertible debt 1.4 9.1 22.5
Non-cash charges for sale of inventories revalued at the date of acquisition 69.5 11.4 3.7
Tax benefits from stock-based compensation awards (16.9) (12.8) (2.6)
Other non-cash expenses, net 48.1 63.7 63.6
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions:      
Accounts receivable (114.9) (70.1) 128.8
Inventories (28.6) (24.1) 106.1
Other assets (123.1) (78.7) (14.3)
Accounts payable 33.8 (0.5) (44.6)
Other liabilities (7.3) 35.6 (15.1)
Contributions to retirement plans (25.3) (24.4) (41.1)
Net cash provided by continuing operations 1,676.6 1,450.1 1,597.4
Net cash provided by discontinued operations 14.4 47.7 61.8
Net cash provided by operating activities 1,691.0 1,497.8 1,659.2
Investing Activities      
Acquisitions, net of cash acquired (5,690.3) (606.2) (637.3)
Purchase of property, plant and equipment (260.9) (245.4) (197.5)
Proceeds from sale of property, plant and equipment 8.2 10.2 13.3
Proceeds from sale of investments 19.5 9.0 1.2
Proceeds from sale of businesses, net of cash divested 13.8 0 4.4
Proceeds from derivative instruments related to Phadia acquisition 27.6    
Other investing activities, net (6.0) (10.1) (3.2)
Net cash used in continuing operations (5,888.1) (842.5) (819.1)
Net cash provided by (used in) discontinued operations 745.9 (16.4) (10.4)
Net cash used in investing activities (5,142.2) (858.9) (829.5)
Financing Activities      
Net proceeds from issuance of long-term debt 4,254.1 741.4 748.2
Increase in commercial paper, net 899.3 0 0
Settlement of convertible debt (452.0) (600.8) (615.5)
Redemption and repayment of long-term obligations (1.4) (505.4) (311.5)
Purchases of company common stock (1,337.5) (1,012.5) (414.6)
Net proceeds from issuance of company common stock 158.1 77.3 54.4
Tax benefits from stock-based compensation awards 16.9 12.8 2.6
Increase (decrease) in short-term notes payable 9.2 (7.9) (21.1)
Other financing activities, net 3.9 0 0
Net cash provided by (used in) financing activities 3,550.6 (1,295.1) (557.5)
Exchange Rate Effect on Cash (0.2) 9.2 11.4
Increase (Decrease) in Cash and Cash Equivalents 99.2 (647.0) 283.6
Cash and Cash Equivalents at Beginning of Period 917.1 1,564.1 1,280.5
Cash and Cash Equivalents at End of Period $ 1,016.3 $ 917.1 $ 1,564.1