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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 241.9 $ 539.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 170.8 163.2
Impairment of long-lived assets 107.9 1.2
Provision for uncollectible accounts 8.3 5.2
Deferred income tax benefit (26.7) (0.3)
Stock-based compensation expense 29.9 37.3
Postretirement benefit plan settlement expense 19.4  
Other 10.3 5.2
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable 114.4 (14.2)
Inventories 221.9 147.0
Prepaid expenses and other assets 81.9 59.7
Accounts payable and other liabilities (37.2) 10.0
Net cash provided by operating activities 942.8 954.1
Investing activities:    
Purchases of property, plant and equipment (134.7) (182.8)
Acquisitions, net of cash acquired   (1.0)
Other 7.0 11.9
Net cash used in investing activities (127.7) (171.9)
Financing activities:    
Net short-term debt borrowings 0.7  
Proceeds from long-term debt borrowings 1,673.7 742.0
Principal payments on long-term debt (1,615.4) (1,304.3)
Debt issuance costs (6.4)  
Dividends and dividend equivalents paid (122.8) (113.3)
Share repurchases (300.2) (50.0)
Noncontrolling interest purchased (8.0)  
Other (16.5) (13.2)
Net cash used in financing activities (394.9) (738.8)
Effect of exchange rate changes on cash and cash equivalents (2.9) (5.6)
Increase in cash and cash equivalents 417.3 37.8
Cash and cash equivalents at beginning of year 174.3 128.2
Cash and cash equivalents at end of period 591.6 166.0
Supplemental cash flow information:    
Interest paid during the period 34.6 57.2
Income taxes paid during the period, net $ 68.3 $ 173.7