XML 65 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net income $ 41.2 $ 37.5
Non-cash pre-tax expense (income):    
Depreciation 19.5 19.4
Amortization 4.0 2.6
Stock-based compensation 7.8 6.5
Recognition of actuarial losses 0.6 4.6
Deferred income taxes 11.7 7.0
Restructuring charges 1.8  
Changes in assets and liabilities:    
Increase in accounts receivable (7.7) (48.3)
Increase in inventories (39.4) (23.0)
(Decrease) increase in accounts payable (22.5) 17.7
(Increase) decrease in other assets (24.4) 7.6
Decrease in accrued expenses and other liabilities (149.9) (103.6)
Increase (decrease) in accrued taxes 0.7 (0.5)
Net cash used in operating activities (156.6) (72.5)
Investing activities    
Capital expenditures (21.0) (14.4)
Proceeds from the disposition of assets 0.1 0.2
Net cash used in investing activities (20.9) (14.2)
Financing activities    
Increase in short-term debt, net 3.5 0.8
Issuance of long-term debt 185.0  
Repayment of long-term debt (60.0)  
Proceeds from the exercise of stock options 8.2 16.9
Treasury stock purchases (68.7) (13.5)
Excess tax benefit from the exercise of stock-based compensation 15.0 6.8
Dividends to stockholders (19.9)  
Other financing, net (1.1) (1.1)
Net cash provided by financing activities 62.0 9.9
Effect of foreign exchange rate changes on cash (1.7) (0.3)
Net decrease in cash and cash equivalents (117.2) (77.1)
Cash and cash equivalents at beginning of period 241.4 336.0
Cash and cash equivalents at end of period $ 124.2 $ 258.9