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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 215.1 $ 186.1
Non-cash pre-tax expense:    
Depreciation 47.9 46.7
Amortization 16.1 13.1
Stock-based compensation 20.9 16.4
Recognition of actuarial losses   0.9
Deferred income taxes 5.6 (25.0)
Restructuring charges   (0.1)
Loss on sale of product line 2.4  
Asset impairment charges 3.2  
Amortization of deferred financing costs 1.0 2.0
Changes in assets and liabilities:    
Increase in accounts receivable (42.3) (59.5)
Increase in inventories (47.3) (11.8)
Increase in accounts payable 3.4 35.2
Increase in other assets (26.4) (11.5)
Decrease in accrued expenses and other liabilities (46.4) (41.0)
Increase in accrued taxes 18.0 13.5
Net cash provided by operating activities 171.2 165.0
Investing activities    
Capital expenditures [1] (59.5) (74.7)
Proceeds from sale of assets   0.3
Proceeds from sale of product line 1.5  
Cost of acquisitions, net of cash acquired (0.1) (81.2)
Net cash used in investing activities (58.1) (155.6)
Financing activities    
Increase in short-term debt, net   2.4
Issuance of long-term debt 205.0 665.0
Repayment of long-term debt (245.0) (235.0)
Proceeds from the exercise of stock options 22.1 14.5
Treasury stock purchases (32.7) (362.7)
Employee withholding taxes paid related to stock-based compensation (9.3) (9.0)
Dividends to stockholders (55.3) (49.0)
Net cash (used) provided by financing activities (115.2) 26.2
Effect of foreign exchange rate changes on cash 3.3 4.6
Net increase in cash and cash equivalents 1.2 40.2
Cash and cash equivalents at beginning of period 251.5 238.5
Cash and cash equivalents at end of period $ 252.7 $ 278.7
[1] Capital expenditures of $11.8 million and $12.1 million that have not been paid as of June 30, 2017 and 2016 respectively, were excluded from the Statements of Cash Flows.