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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 412.3 $ 326.5 $ 291.7
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 473.3 401.4 109.3
Stock-based compensation expense 19.5 50.0 25.3
Below market intangible amortization (88.2) (82.2) 0.0
Deferred income taxes 29.4 (27.3) (5.3)
Loss on disposal of property, plant and equipment 9.6 15.9 0.9
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable and unbilled accounts receivable 315.0 (6.3) (54.6)
Inventories 180.8 255.9 (108.9)
Accounts payable (269.0) (144.3) 48.8
Accrued income taxes 56.9 10.7 7.9
Accrued liabilities and customer deposits (91.4) (11.9) 31.7
Other assets and liabilities (264.5) 227.1 (32.1)
Net cash provided by operating activities 783.7 1,015.5 314.7
Investing Activities      
Purchase of property, plant and equipment (136.4) (185.3) (93.3)
Proceeds from disposal of property, plant and equipment 21.3 3.9 11.3
Acquisitions of business, net of cash acquired (40.3) (2,996.4) (51.2)
Other 0.0 0.0 (14.1)
Net cash used for investing activities (155.4) (3,177.8) (147.3)
Financing Activities      
Proceeds from debt, net of issuance costs 3,878.0 3,982.4 3,480.7
Payments of debt (4,077.3) (3,423.6) (1,454.0)
Repurchase of stock (207.2) 0.0 0.0
Payment of contingent consideration on acquisitions (115.4) (10.1) 0.0
Cash dividends (92.5) (81.7) (46.3)
Other financing activities (4.6) (5.5) (2.3)
Net cash (used for) provided by financing activities (619.0) 461.5 1,978.1
Effect of changes in currency exchange rates (14.8) (37.3) (36.6)
(Decrease) increase in cash (5.5) (1,738.1) 2,108.9
Cash, cash equivalents and restricted cash, beginning of year 604.2 2,342.3 233.4
Cash, cash equivalents and restricted cash, end of year $ 598.7 $ 604.2 $ 2,342.3