4. Statement of Cash Flows, Supplemental Disclosures

6 Months Ended

Jun. 30, 2021

SUPPLEMENTAL CASH FLOW INFORMATION

The reconciliation of net income to net cash provided by operating activities is as follows (in millions):


	Six Months Ended
	June 30, 2021		June 30, 2020
Net income	$	1,891.5	$	1,652.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	66.4		68.3
Reduction in the carrying amount of right-of-use assets	19.6		18.7
Share-based compensation	23.1		18.5
Gains on dispositions of securities	(0.1)		(0.6)
Other-than-temporary impairment losses on investment	0.8		4.6
Changes in fair market value of equity securities	(2,210.1)		(2,011.2)
Losses on dispositions of fixed assets	0.4		—
Gain on divestiture of a division	—		(11.7)
Changes in fair value of contingent consideration	—		(1.1)
Payments for operating lease liabilities	(21.1)		(18.3)
Decrease in accounts receivable	12.9		24.7
Decrease (increase) in inventories	14.3		(79.8)
Increase in other current assets	(19.5)		(18.6)
(Decrease) increase in accounts payable and other current liabilities	(34.2)		29.7
(Decrease) increase in income taxes payable	(13.7)		27.8
Increase in deferred income taxes	503.8		437.4
Increase in other long term liabilities	34.1		15.5
Other	—		(1.3)
Net cash provided by operating activities	$	268.2	$	154.9

Non-cash investing activities:
Purchased property, plant and equipment	$	3.8	$	5.8
Purchased marketable securities and investments	$	1.4	$	0.1