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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net earnings $ 210.6 $ 202.6
Adjustments to reconcile net earnings to net cash provided by operating activities, net of acquisition:    
Depreciation of property and equipment 39.3 37.6
Gain on sale of property and equipment (0.6) (0.4)
Bad debt expense (0.1) 1.9
Deferred income taxes 0.3 0.5
Stock-based compensation 1.5 1.6
Amortization of intangible assets 2.7 1.0
Changes in operating assets and liabilities, net of acquisition:    
Trade accounts receivable (82.1) (101.4)
Inventories 31.1 10.6
Other current assets 16.3 33.2
Accounts payable 8.1 19.3
Accrued expenses (6.3) (24.0)
Income taxes 53.9 56.2
Other 0.1 2.4
Net cash provided by operating activities 274.8 241.1
Cash flows from investing activities:    
Purchases of property and equipment (32.7) (48.8)
Proceeds from sale of property and equipment 2.7 2.1
Cash paid for acquisition 0.0 (125.0)
Other 0.1 0.0
Net cash used in investing activities (29.9) (171.7)
Cash flows from financing activities:    
Proceeds from debt obligations 110.0 325.0
Payments against debt obligations (110.0) (215.0)
Proceeds from exercise of stock options 6.6 7.4
Purchases of common stock 0.0 (52.0)
Payments of dividends (160.8) (143.6)
Net cash used in financing activities (154.2) (78.2)
Effect of exchange rate changes on cash and cash equivalents (2.5) (5.4)
Net increase (decrease) in cash and cash equivalents 88.2 (14.2)
Cash and cash equivalents at beginning of period 245.7 174.9
Cash and cash equivalents at end of period 333.9 160.7
Supplemental information:    
Cash paid for interest 2.4 2.2
Net cash paid for income taxes 12.4 10.2
Leased assets obtained in exchange for new operating lease liabilities $ 30.9 $ 25.0