Statement Of Cash Flows Indirect (USD $) | | |
In Millions | 9 Months Ended
Sep. 30, 2009
| 9 Months Ended
Sep. 30, 2008
|
Cash flows from operating activities: | | |
Net income | 254.1 | 257.2 |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 68.3 | 75.1 |
Deferred income taxes | -0.4 | -3.4 |
Stock-based compensation expense | 13 | 13.7 |
Other | -0.3 | -0.8 |
Changes in assets and liabilities: | | |
Increase in accounts receivable | -18.3 | -29.5 |
(Increase)/decrease in inventories | 38.6 | -22.7 |
Decrease in accounts payable | -10.4 | -10.8 |
Increase/(decrease) in accrued income taxes | -12.3 | 15.4 |
Other | 29.9 | 5.6 |
Net cash provided by operating activities | 362.2 | 299.8 |
Cash flows from investing activities: | | |
Property, plant and equipment additions | -88.1 | -64.7 |
Proceeds from sale of property, plant and equipment | 2.9 | 0.6 |
Acquisitions of businesses, net of cash acquired | (6) | (2) |
Other, net | -13.1 | 1 |
Net cash used in investing activities | -104.3 | -65.1 |
Cash flows from financing activities: | | |
Net issuance/(repayment) of short-term debt | -142.2 | 162.8 |
Repayment of long-term debt | -6.9 | (90) |
Payment of dividends | (53) | -49.5 |
Treasury stock purchases | -45.8 | (291) |
Exercise of stock options | 12.5 | 22.5 |
Excess tax benefits from stock-based payments | 2.7 | 8.4 |
Net cash used in financing activities | -232.7 | -236.8 |
Effect of exchange rate changes on cash | 15.2 | -14.9 |
Net change in cash and cash equivalents | 40.4 | (17) |
Cash and cash equivalents at January 1 | 251.8 | 237.6 |
Cash and cash equivalents at September 30 | 292.2 | 220.6 |
Supplemental disclosures of cash flow information: | | |
Income taxes paid, net of refunds received | 116.9 | 100.5 |
Interest paid | 10.1 | 17.6 |