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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net Income $ 227.5 $ 113.9
Non-cash pre-tax expense (income):    
Depreciation 66.5 60.9
Amortization 15.3 12.3
Stock-based compensation 20.6 23.9
Recognition of actuarial losses 8.9 1.7
Deferred income taxes (22.7) 5.6
Restructuring charges 0.9 0.4
Amortization of deferred financing costs 0.4  
Pre-tax loss on sale of discontinued operations 16.9 83.2
(Income) loss on sale of property, plant and equipment (0.7) 0.5
Changes in assets and liabilities:    
Increase in accounts receivable (57.7) (77.6)
Increase in inventories (52.7) (34.5)
Increase (decrease) in accounts payable 5.6 (3.6)
Increase in other assets (11.2) (15.1)
Increase (decrease) in accrued expenses and other liabilities 21.9 (104.5)
Increase in accrued taxes 24.6 43.1
Net cash provided by operating activities 264.1 110.2
Investing activities    
Capital expenditures (86.9) (82.3)
Proceeds from the disposition of assets 2.5 0.2
Proceeds from sale of discontinued operations 12.2 130.0
Cost of acquisitions, net of cash acquired (652.8) (118.5)
Other investing activities   (7.0)
Net cash used in investing activities (725.0) (77.6)
Financing activities    
Decrease in short-term debt, net   (2.7)
Issuance of long-term debt 1,748.9 835.0
Repayment of long-term debt (1,080.0) (505.0)
Proceeds from the exercise of stock options 22.6 23.1
Treasury stock purchases [1] (15.7) (411.4)
Excess tax benefit from the exercise of stock-based compensation 23.0 24.4
Dividends to stockholders [2] (67.1) (58.5)
Other financing, net (1.2) (2.2)
Net cash provided by (used in) financing activities 630.5 (97.3)
Effect of foreign exchange rate changes on cash (10.9) (1.6)
Net increase (decrease) in cash and cash equivalents 158.7 (66.3)
Cash and cash equivalents at beginning of period 191.9 241.4
Cash and cash equivalents at end of period $ 350.6 $ 175.1
[1] Treasury stock purchases exclude purchases of $20.3 million of shares of common stock in September 2015 that were not settled until October 2015.
[2] Excludes dividends declared but not paid of $22.3 million and $19.0 million as of September 30, 2015 and 2014, respectively.