XML 29 R6.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 492.0 $ 489.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 42.3 38.3
Non-cash operating lease cost 11.8  
Stock-based compensation (Note 9) 43.1 37.6
Inventory reserves 46.2 0.0
Change in fair value of contingent consideration liabilities, net (Note 7) 14.7 14.7
Deferred income taxes 12.9 18.9
Purchase of intellectual property (Note 4) 24.0 0.0
Other (7.7) 2.0
Changes in operating assets and liabilities:    
Accounts and other receivables, net (89.2) 2.6
Inventories (61.9) (20.5)
Accounts payable and accrued liabilities (190.6) (89.2)
Income taxes (3.5) (188.9)
Prepaid expenses and other current assets 3.9 (11.5)
Other 4.7 (1.8)
Net cash provided by operating activities 342.7 291.5
Cash flows from investing activities    
Capital expenditures (106.8) (96.0)
Purchases of held-to-maturity investments (Note 5) (30.0) 0.0
Proceeds from held-to-maturity investments (Note 5) 50.0 339.5
Purchases of available-for sale investments (Note 5) (75.4) 0.0
Proceeds from available-for-sale investments (Note 5) 190.8 101.1
Investments in intangible assets (24.0) (3.0)
Payment of contingent consideration 0.0 (10.0)
Acquisition (Note 6) (100.2) 0.0
Payment for acquisition option (35.0) 0.0
Other (7.2) (6.4)
Net cash (used in) provided by investing activities (137.8) 325.2
Cash flows from financing activities    
Proceeds from issuance of debt, net 9.7 685.8
Payments on debt and capital lease obligations (20.2) (522.2)
Purchases of treasury stock (262.0) (350.4)
Equity forward contract related to accelerated share repurchase agreement (Note 10) 0.0 (80.0)
Proceeds from stock plans 86.5 84.3
Payment of contingent consideration 0.0 (15.1)
Other (1.0) (2.2)
Net cash used in financing activities (187.0) (199.8)
Effect of currency exchange rate changes on cash and cash equivalents (5.2) (8.8)
Net increase in cash and cash equivalents 12.7 408.1
Cash and cash equivalents at beginning of period 714.1 818.3
Cash and cash equivalents at end of period $ 726.8 $ 1,226.4