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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 395.0 $ 225.0
Non-cash adjustments:    
Depreciation 62.6 57.0
Amortization of intangibles 32.6 20.6
Non-cash lease expense 20.9 16.7
Stock-based compensation 24.4 15.0
Deferred taxes 7.1 (11.8)
Asset impairment charges   22.5
Amortization of deferred financing fees 2.1 2.1
Equity in losses of affiliate   2.3
Loss (gain) on equity investments 2.9 (6.6)
Loss on sale of property, plant and equipment 1.2 1.2
Changes in assets and liabilities:    
Increase in accounts receivable (106.0) (59.6)
Increase in inventories (173.1) (18.1)
Increase in accounts payable 78.7 11.9
Decrease (increase) in other assets 0.5 (8.1)
Decrease in accrued expenses and other liabilities (100.2) (62.2)
Increase in accrued taxes 14.0 52.6
Net cash provided by operating activities 262.7 260.5
Investing activities    
Capital expenditures [1] (65.8) (42.3)
Proceeds from the disposition of assets 1.7 1.5
Cost of acquisitions, net of cash acquired 5.2  
Cost of investments in equity securities   (59.4)
Net cash used in investing activities (58.9) (100.2)
Financing activities    
Issuance of long-term debt 535.0 900.0
Repayment of long-term debt (500.0) (840.0)
Proceeds from the exercise of stock options 32.1 24.1
Treasury stock purchases (156.0) (150.0)
Employee withholding taxes related to stock-based compensation (8.4) (7.9)
Dividends to stockholders (72.0) (66.6)
Other financing, net (0.1) (1.8)
Net cash used in financing activities (169.4) (142.2)
Effect of foreign exchange rate changes on cash 5.9 (8.0)
Net increase in cash and cash equivalents 40.3 10.1
Cash, cash equivalents and restricted cash at beginning of period [2] 425.0 394.9
Cash, cash equivalents and restricted cash at end of period [2] $ 465.3 $ 405.0
[1] Capital expenditures of $10.5 million and $3.9 million that had not been paid as of June 30, 2021 and 2020, respectively, were excluded from the Statement of Cash Flows.
[2] Restricted cash of $1.4 million and $3.9 million is included in Other current assets and Other assets, respectively, as of June 30, 2021 and restricted cash of $1.0 million and $5.6 million is included in Other current assets and Other assets, respectively, as of June 30, 2020.  Restricted cash of $1.0 million and $4.9 million is included in Other current assets and Other assets, respectively, as of December 31, 2020.