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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 524.6 $ 268.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 59.1 56.9
Provision for credit losses 3.5 4.5
Deferred income tax benefit (0.4) (0.1)
Stock-based compensation expense 11.8 14.7
Other 4.9 0.4
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (399.6) (346.2)
Inventories 54.0 (50.4)
Prepaid expenses and other assets 19.5 (4.1)
Accounts payable and other liabilities 126.6 217.9
Net cash provided by operating activities 404.0 161.8
Investing activities:    
Purchases of property, plant and equipment (66.7) (43.7)
Proceeds from sales of property, plant and equipment 8.2 20.6
Other (4.8) (4.6)
Net cash used in investing activities (63.3) (27.7)
Financing activities:    
Net short-term debt repayments   (0.8)
Dividends and dividend equivalents paid (56.7) (44.8)
Share repurchases (17.1)  
Payments for taxes related to net share settlements (17.1) (8.2)
Other (1.1) (2.6)
Net cash used in financing activities (92.0) (56.4)
Effect of exchange rate changes on cash and cash equivalents (1.2) (0.9)
Increase in cash and cash equivalents 247.5 76.8
Cash and cash equivalents at beginning of year 300.5 683.5
Cash and cash equivalents at end of period 548.0 760.3
Supplemental cash flow information:    
Interest paid during the period 9.6 9.5
Income taxes paid during the period, net $ 89.8 $ 6.9