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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 204.6 $ 215.1
Non-cash items affecting net income:    
Depreciation 55.0 47.9
Amortization 16.4 16.1
Stock-based compensation 22.9 20.9
Deferred income taxes (9.9) 5.6
Loss on sale of product line   2.4
Asset impairment charges   3.2
Amortization of deferred financing fees 1.0 1.0
Loss on sale of property, plant and equipment 1.8  
Changes in assets and liabilities:    
Increase in accounts receivable (94.5) (42.3)
Increase in inventories (49.0) (47.3)
Increase in accounts payable 12.3 3.4
Increase in other assets (18.0) (26.4)
Decrease in accrued expenses and other liabilities (30.0) (46.4)
Increase in accrued taxes 24.7 18.0
Net cash provided by operating activities 137.3 171.2
Investing activities    
Capital expenditures [1] (67.2) (59.5)
Proceeds from disposition of assets 0.7  
Proceeds from sale of product line   1.5
Cost of acquisitions, net of cash acquired (5.8) (0.1)
Net cash used in investing activities (72.3) (58.1)
Financing activities    
Increase in short-term debt 350.0  
Issuance of long-term debt 920.0 205.0
Repayment of long-term debt (635.0) (245.0)
Proceeds from the exercise of stock options 3.8 22.1
Treasury stock purchases (602.7) (32.7)
Employee withholding taxes paid related to stock-based compensation (12.7) (9.3)
Dividends to stockholders (58.6) (55.3)
Net cash used by financing activities (35.2) (115.2)
Effect of foreign exchange rate changes on cash (7.3) 3.3
Net increase in cash and cash equivalents 22.5 1.2
Cash and cash equivalents at beginning of period 323.0 251.5
Cash and cash equivalents at end of period $ 345.5 $ 252.7
[1] Capital expenditures of $8.2 million and $11.8 million that have not been paid as of June 30, 2018 and 2017 respectively, were excluded from the Statements of Cash Flows.