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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES        
Net income $ 391.3 $ 370.7 $ 1,184.9 $ 1,253.7
Adjustments to reconcile net earnings to net cash provided from operating activities:        
Depreciation, amortization and depletion 200.3 170.6 580.6 495.2
Equity earnings of affiliate, net of dividends received (3.1) (3.4) (2.5) (3.9)
Loss on foreign currency transaction effect 1.0 4.8 10.4 31.2
(Benefit) provision for deferred income taxes (23.8) (2.2) 26.4 (17.7)
Other, net 3.7 3.5 11.2 (4.4)
Change in operating assets and liabilities:        
(Increase) decrease in accounts receivable (54.9) 34.8 (19.7) 112.3
(Increase) in inventories (12.7) (43.6) (76.9) (131.2)
Increase (decrease) in accounts payable and accrued liabilities 103.6 175.1 (225.0) 80.5
(Increase) decrease in other operating assets and liabilities (20.2) 22.5 (118.9) (26.8)
Net cash provided by operating activities 585.2 732.8 1,370.5 1,788.9
INVESTING ACTIVITIES        
Capital expenditures (182.7) (282.3) (536.1) (831.8)
Proceeds from sale (purchase) of short-term investments, net 117.1 (185.8) 212.0 (186.0)
Other 0.1 0.2 0.2 (12.0)
Net cash used in investing activities (65.5) (467.9) (323.9) (1,029.8)
FINANCING ACTIVITIES        
Proceeds from issuance of debt 987.3   987.3  
Capitalization of debt issuance cost (9.8)   (9.8)  
Cash dividends paid to common stockholders (309.2) (309.2) (927.7) (773.0)
Other, net (0.8) (0.2) (0.5) (1.0)
Net cash provided by (used in) financing activities 667.5 (309.4) 49.3 (774.0)
Effect of exchange rate changes on cash and cash equivalents (4.2) (20.7) (5.3) (22.6)
Increase (decrease) in cash and cash equivalents 1,183.0 (65.2) 1,090.6 (37.5)
Cash and cash equivalents, at beginning of year 752.2 1,032.5 844.6 1,004.8
Cash and cash equivalents, at end of year $ 1,935.2 $ 967.3 $ 1,935.2 $ 967.3