XML 23 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net earnings $ 925.0 $ 859.1 $ 790.9
Adjustments to reconcile net earnings to net cash provided by operating activities, net of acquisition:      
Depreciation of property and equipment 159.9 153.3 144.6
Gain on sale of property and equipment (1.1) (1.4) (1.2)
Bad debt expense 2.5 7.5 5.5
Deferred income taxes (13.7) 2.9 15.0
Stock-based compensation 5.6 5.7 5.7
Amortization of intangible assets 10.8 9.1 4.1
Changes in operating assets and liabilities, net of acquisition:      
Trade accounts receivable (135.2) (29.7) (30.4)
Inventories (189.5) 36.0 (84.4)
Other current assets (47.8) 17.1 (10.4)
Accounts payable 26.1 14.2 (0.8)
Accrued expenses 26.2 20.6 10.7
Income taxes (1.8) 10.0 (7.7)
Other 3.1 (2.6) 1.1
Net cash provided by operating activities 770.1 1,101.8 842.7
Cash flows from investing activities:      
Purchases of property and equipment (156.6) (168.1) (246.4)
Proceeds from sale of property and equipment 8.4 10.6 6.6
Cash paid for acquisition 0.0 (125.0) 0.0
Other (0.3) 0.8 0.1
Net cash used in investing activities (148.5) (281.7) (239.7)
Cash flows from financing activities:      
Proceeds from debt obligations 525.0 1,000.0 910.0
Payments against debt obligations (540.0) (940.0) (1,065.0)
Proceeds from exercise of stock options 31.6 41.0 58.5
Purchases of common stock 0.0 (52.0) 0.0
Payments of dividends (643.7) (803.4) (498.6)
Net cash used in financing activities (627.1) (754.4) (595.1)
Effect of exchange rate changes on cash and cash equivalents (4.0) 5.1 (0.2)
Net (decrease) increase in cash and cash equivalents (9.5) 70.8 7.7
Cash and cash equivalents at beginning of year 245.7 174.9 167.2
Cash and cash equivalents at end of year 236.2 245.7 174.9
Supplemental information:      
Cash paid for interest 9.9 8.4 13.9
Net cash paid for income taxes $ 294.0 $ 260.1 $ 242.7