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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 1,171.3 $ 874.7 $ 901.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 230.4 209.5 220.7
Asset Impairment Charges 4.1 36.0 0.0
Amortization of intangibles 57.7 60.1 61.1
Stock compensation expense 46.4 34.0 27.4
Equity in net earnings of affiliates, net of cash received (36.4) (40.8) (1.9)
Deferred income tax benefit (264.4) (58.0) (117.9)
Other 6.7 16.2 20.5
Changes in operating assets and liabilities:      
Accounts and notes receivable, net (443.8) (306.1) (207.7)
Inventories, net (164.4) (668.3) (762.6)
Other current and noncurrent assets (243.0) 20.1 (268.0)
Accounts payable (191.6) 322.1 292.2
Accrued expenses 566.5 282.7 241.2
Other current and noncurrent liabilities 363.6 56.0 253.7
Total adjustments (68.2) (36.5) (241.3)
Net cash provided by operating activities 1,103.1 838.2 660.2
Cash flows from investing activities:      
Purchases of property, plant and equipment (518.1) (388.3) (269.8)
Proceeds from sale of property, plant and equipment 11.8 2.6 6.3
Purchase of businesses, net of cash acquired (9.8) (111.3) (22.6)
Sale of, distributions from (investments in) unconsolidated affiliates, net (21.6) 4.0 13.1
Other (8.0) (3.8) (15.4)
Net cash used in investing activities (545.7) (496.8) (288.4)
Cash flows from financing activities:      
Proceeds from indebtedness 329.8 410.5 2,497.6
Repayments of indebtedness (458.6) (377.5) (2,501.4)
Purchases and retirement of common stock (53.0) 0.0 (135.0)
Payment of dividends to stockholders (457.4) (404.3) (358.5)
Payment of minimum tax withholdings on stock compensation (21.6) (20.6) (34.9)
Payment of debt issuance costs (10.9) (3.6) (3.8)
Distributions to noncontrolling interests, net 0.0 (11.5) (3.5)
Net cash used in financing activities (671.7) (407.0) (539.5)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (79.7) (34.0) (62.3)
Decrease in cash, cash equivalents and restricted cash (194.0) (99.6) (230.0)
Cash, cash equivalents and restricted cash, beginning of year 789.5 889.1 1,119.1
Cash, cash equivalents and restricted cash, end of year $ 595.5 $ 789.5 $ 889.1