XML 26 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities:    
Net income $ 282.6 $ 262.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 158.6 141.1
Deferred income tax (benefit) provision (3.4) 1.2
(Gain) loss on sales of property, plant and equipment (1.2) 0.8
Equity in earnings of unconsolidated entities (2.2) (1.6)
Dividends received from unconsolidated entity 0.9 0.6
Share-based compensation expense 20.1 21.3
Other 7.3 (0.4)
Changes in operating assets and liabilities:    
Accounts receivable (213.9) (66.8)
Inventories (333.0) 62.3
Prepaid expenses and other assets 46.1 4.0
Accounts payable and other liabilities 200.9 88.1
Net cash provided by operating activities 162.8 513.0
Investing activities:    
Purchases of property, plant and equipment (134.4) (118.7)
Acquisitions, net of cash acquired (145.0) (796.8)
Proceeds from sale of businesses, net 26.2 7.0
Other (8.0) 10.1
Net cash used in investing activities (261.2) (898.4)
Financing activities:    
Net short-term debt borrowings (repayments) 4.3 (470.0)
Proceeds from long-term debt borrowings 535.7 2,297.9
Principal payments on long-term debt (368.6) (1,414.0)
Debt issuance costs   (10.3)
Dividends paid (81.7) (71.4)
Exercise of stock options 27.9 61.5
Other (2.1) (0.9)
Net cash provided by financing activities 115.5 392.8
Effect of exchange rate changes on cash   (0.1)
Increase in cash and cash equivalents 17.1 7.3
Cash and cash equivalents at beginning of year 83.6 97.6
Cash and cash equivalents at end of period 100.7 104.9
Supplemental cash flow information:    
Interest paid during the period 46.4 38.4
Income taxes paid during the period, net 103.7 115.2
Non-cash investing and financing activities:    
Debt assumed in connection with acquisitions $ 41.7 $ 529.9