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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 221.6 $ 204.6
Non-cash pre-tax expense:    
Depreciation 56.0 55.0
Amortization of intangibles 20.0 16.4
Non-cash lease expense 17.9  
Stock-based compensation 14.5 22.9
Deferred taxes 5.0 (9.9)
Asset impairment charges 1.7  
Amortization of deferred financing fees 1.5 1.0
(Gain) loss on sale of property, plant and equipment (1.0) 1.8
Changes in assets and liabilities:    
Increase in accounts receivable (132.6) (94.5)
Increase in inventories (61.1) (49.0)
Increase in accounts payable 26.8 12.3
Increase in other assets (13.8) (18.0)
Decrease in accrued expenses and other liabilities (41.2) (30.0)
(Decrease) Increase in accrued taxes (3.3) 24.7
Net cash provided by operating activities 112.0 137.3
Investing activities    
Capital expenditures [1] (54.9) (67.2)
Proceeds from the disposition of assets 4.1 0.7
Cost of acquisition, net of cash acquired   (5.8)
Net cash used in investing activities (50.8) (72.3)
Financing activities    
(Decrease) increase in short-term debt (175.0) 350.0
Issuance of long-term debt 665.0 920.0
Repayment of long-term debt (410.0) (635.0)
Proceeds from the exercise of stock options 6.1 3.8
Treasury stock purchases (50.0) (602.7)
Employee withholding taxes related to stock-based compensation (8.2) (12.7)
Deferred acquisition payments (19.0)  
Dividends to stockholders (61.7) (58.6)
Other financing, net (0.2)  
Net cash used in financing activities (53.0) (35.2)
Effect of foreign exchange rate changes on cash 4.9 (7.3)
Net increase in cash and cash equivalents 13.1 22.5
Cash, cash equivalents and restricted cash at beginning of period [2] 270.7 323.0
Cash, cash equivalents and restricted cash at end of period [2] $ 283.8 $ 345.5
[1] Capital expenditures of $7.8 million and $8.2 million that had not been paid as of June 30, 2019 and 2018 respectively, were excluded from the Statement of Cash Flows.
[2] Restricted cash of $0.7 million and $6.8 million is included in Other current assets and Other assets, respectively, as of June 30, 2019 and restricted cash of $0.9 million and $6.9 million is included in Other current assets and Other assets, respectively, as of December 31, 2018.