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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 303.8 $ 384.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 63.6 61.1
Stock-based compensation expense 13.0 13.5
Other 2.8 (0.1)
Changes in operating assets and liabilities (excluding effect of businesses acquired):    
Accounts receivable (211.6) (237.1)
Inventories (114.6) 13.5
Prepaid expenses and other assets 73.9 50.0
Accounts payable and other liabilities (4.6) 99.3
Net cash provided by operating activities 126.3 384.6
Investing activities:    
Acquisition, net of cash acquired (53.7)  
Purchases of property, plant and equipment (108.7) (102.9)
Other (15.0) 0.3
Net cash used in investing activities (177.4) (102.6)
Financing activities:    
Principal payment on long-term debt   (500.0)
Cash dividends and dividend equivalents (65.3) (62.0)
Share repurchases   (38.9)
Taxes paid related to net share settlement of restricted stock units (23.9) (37.2)
Other (1.1) (1.1)
Net cash used in financing activities (90.3) (639.2)
Effect of exchange rate changes on cash and cash equivalents (3.9)  
Decrease in cash and cash equivalents (145.3) (357.2)
Cash and cash equivalents at beginning of year 1,080.2 1,173.4
Cash and cash equivalents at end of the period 934.9 816.2
Supplemental cash flow information:    
Interest paid during the period 8.8 14.4
Income taxes paid during the period, net $ 10.2 $ 21.2