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v3.19.1

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
Operating activities |  |
Net income | $ 1,328.4 | $ 1,375.4
Charges and credits: |  |
Depreciation and amortization | 392.6 | 362.9
Deferred income taxes | 54.3 | 29.2
Share-based compensation | 31.6 | 39.8
Other | 51.5 | (54.9)
Changes in working capital items | 162.2 | (107.2)
Cash provided by operations | 2,020.6 | 1,645.2
Investing activities |  |
Capital expenditures | (515.3) | (552.8)
Purchases of restaurant businesses | (9.0) | (23.7)
Sales of restaurant businesses | 131.9 | 186.7
Sales of property | 22.3 | 71.7
Other | (401.2) | (41.0)
Cash (used for) investing activities | (771.3) | (359.1)
Financing activities |  |
Net short-term borrowings | (94.0) | 556.0
Long-term financing issuances | 2,513.3 | 1,499.7
Long-term financing repayments | (415.0) | (1,001.6)
Treasury stock purchases | (996.1) | (1,632.9)
Common stock dividends | (886.8) | (797.5)
Proceeds from stock option exercises | 110.6 | 75.3
Other | (11.3) | (5.2)
Cash provided by (used for) financing activities | 220.7 | (1,306.2)
Effect of exchange rates on cash and cash equivalents | (46.9) | 24.3
Cash and equivalents increase | 1,423.1 | 4.2
Cash and equivalents at beginning of period | 866.0 | 2,463.8
Cash and equivalents at end of period | $ 2,289.1 | $ 2,468.0

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