XML 16 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:        
Net income $ 335.5 $ 298.1 $ 964.4 $ 888.5
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation of property and equipment 42.3 41.8 126.7 123.0
Gain on sale of property and equipment (1.0) (1.3) (2.6) (3.0)
Bad debt expense (recoveries) 1.6 0.4 3.5 (0.2)
Deferred income taxes (7.4) 1.6 (6.1) 2.8
Stock-based compensation 2.1 2.0 6.2 6.0
Amortization of intangible assets 2.7 2.6 8.0 8.0
Changes in operating assets and liabilities:        
Trade accounts receivable, net (26.8) 7.4 (233.2) (113.5)
Inventories 1.4 (48.4) (66.3) (36.2)
Other current assets (19.8) (26.1) 5.9 (19.6)
Accounts payable 25.6 9.6 50.3 40.3
Accrued expenses 5.4 7.7 35.4 (14.8)
Income taxes 22.3 (0.3) 34.8 0.7
Other 3.0 1.8 0.8 8.5
Net cash provided by operating activities 386.9 296.9 927.8 890.5
Cash flows from investing activities:        
Purchases of property and equipment (60.3) (59.4) (185.3) (166.3)
Proceeds from sale of property and equipment 5.6 3.6 12.5 9.6
Other (0.1) (0.1) (0.3) (0.3)
Net cash used in investing activities (54.8) (55.9) (173.1) (157.0)
Cash flows from financing activities:        
Proceeds from debt obligations 365.0 205.0 1,040.0 590.0
Payments against debt obligations (400.0) (200.0) (1,045.0) (610.0)
Proceeds from exercise of stock options 6.6 7.7 23.9 26.3
Cash dividends paid (252.5) (223.4) (751.6) (669.9)
Net cash used in financing activities (280.9) (210.7) (732.7) (663.6)
Effect of exchange rate changes on cash and cash equivalents (0.9) 6.4 10.3 1.0
Net increase in cash and cash equivalents 50.3 36.7 32.3 70.9
Cash and cash equivalents at beginning of period 237.8 255.5 255.8 221.3
Cash and cash equivalents at end of period 288.1 292.2 288.1 292.2
Supplemental information:        
Cash paid for interest 1.5 1.8 5.7 6.0
Net cash paid for income taxes 89.1 87.6 274.4 269.4
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $ 36.4 $ 26.1 $ 109.5 $ 75.5