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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:        
Net earnings $ 295.5 $ 284.6 $ 888.6 $ 841.3
Adjustments to reconcile net earnings to net cash provided by operating activities:        
Depreciation of property and equipment 42.1 41.4 126.1 123.8
(Gain) loss on sale of property and equipment (1.5) (1.1) (2.7) 1.2
Bad debt expense (recoveries) 1.2 (1.3) 1.4 (0.9)
Deferred income taxes (5.0) 3.8 (4.4) 4.3
Stock-based compensation 1.8 1.4 5.6 4.4
Amortization of intangible assets 2.6 2.7 8.0 8.1
Changes in operating assets and liabilities:        
Trade accounts receivable (4.5) (13.6) (159.5) (222.9)
Inventories 46.1 (26.3) 191.7 (176.9)
Other current assets (8.3) (43.0) 15.4 15.9
Accounts payable 11.8 (14.6) 21.7 44.1
Accrued expenses 6.6 13.7 (4.7) (15.9)
Income taxes (0.6) 3.3 (7.2) 5.3
Other 0.3 6.9 (1.3) 7.3
Net cash provided by operating activities 388.1 257.9 1,078.7 639.1
Cash flows from investing activities:        
Purchases of property and equipment (46.9) (48.0) (136.5) (131.0)
Proceeds from sale of property and equipment 4.0 3.6 8.8 10.1
Other (0.1) (0.1) (0.5) (0.7)
Net cash used in investing activities (43.0) (44.5) (128.2) (121.6)
Cash flows from financing activities:        
Proceeds from debt obligations 155.0 695.0 790.0 1,390.0
Payments against debt obligations (245.0) (645.0) (1,085.0) (1,225.0)
Proceeds from exercise of stock options 2.9 2.0 15.4 7.8
Purchases of common stock 0.0 (95.3) 0.0 (144.6)
Cash dividends paid (199.8) (177.5) (599.5) (534.4)
Net cash used in financing activities (286.9) (220.8) (879.1) (506.2)
Effect of exchange rate changes on cash and cash equivalents (4.3) (9.0) (4.0) (16.0)
Net increase (decrease) in cash and cash equivalents 53.9 (16.4) 67.4 (4.7)
Cash and cash equivalents at beginning of period 243.6 247.9 230.1 236.2
Cash and cash equivalents at end of period 297.5 231.5 297.5 231.5
Supplemental information:        
Cash paid for interest 2.1 4.2 10.3 9.2
Net cash paid for income taxes 94.3 81.9 288.0 257.3
Leased assets obtained in exchange for new operating lease liabilities $ 32.0 $ 18.4 $ 96.3 $ 74.0