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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
OPERATING ACTIVITIES |  |
Net income | $ 471.9 | $ 315.3
Adjustments to reconcile net income to net cash provided from operating activities: |  |
Depreciation, amortization and depletion | 162.0 | 153.4
Equity earnings of affiliate, net of dividends received | (0.3) | (2.8)
Loss on foreign currency transaction effect | 26.4 | 31.1
Benefit from deferred income taxes | (23.9) | (16.8)
Other, net | (1.2) | 6.5
Change in operating assets and liabilities: |  |
Decrease (increase) in accounts receivable | 16.7 | (77.7)
(Increase) in inventories | (59.4) | (10.7)
Increase in accounts payable and accrued liabilities | 83.4 | 71.7
(Decrease) increase in other operating assets and liabilities | (25.8) | 20.1
Net cash provided by operating activities | 649.8 | 490.1
INVESTING ACTIVITIES |  |
Capital investments | (295.7) | (245.6)
(Purchase of) proceeds from short-term investments, net | (6.0) | (1.4)
Proceeds from sale of property | 0.3 | 0.4
Net cash used in investing activities | (301.4) | (246.6)
FINANCING ACTIVITIES |  |
Cash dividends paid to common stockholders | (231.9) | (61.8)
Other | (0.9) |
Net cash used in financing activities | (232.8) | (61.8)
Effect of exchange rate changes on cash and cash equivalents | (52.2) | (29.0)
Net increase in cash and cash equivalents | 63.4 | 152.7
Cash and cash equivalents at beginning of period | 1,004.8 | 546.0
Cash and cash equivalents at end of period | $ 1,068.2 | $ 698.7

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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3044-108585 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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