|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 10Q (USD $) In Millions, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net earnings |
$ 77.6 |
$ 109.0 |
| Adjustments to reconcile net earnings to net cash flows provided by operating activities, net of effects from acquisitions: |
|
|
| Depreciation and amortization |
20.4 |
28.1 |
| Deferred income taxes |
2.7 |
4.1 |
| Non-cash compensation |
6.8 |
6.9 |
| Loss on disposal of property and equipment |
0.2 |
0.3 |
| Tax benefits realized from prior exercises of employee stock options and restricted stock |
(1.2) |
(2.4) |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(75.1) |
(68.4) |
| Inventories |
(61.2) |
(92.7) |
| Other current and non-current assets |
40.3 |
(33.8) |
| Accounts payable and accrued liabilities |
26.9 |
105.2 |
| Net cash provided by operating activities |
37.4 |
56.3 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Capital expenditures |
(25.3) |
(56.2) |
| Acquisitions, net of cash acquired |
4.0 |
(256.4) |
| Other |
(3.8) |
|
| Net cash used in investing activities |
(25.1) |
(312.6) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from common stock issued |
|
0.1 |
| Purchase of treasury stock |
(0.4) |
(0.1) |
| Tax benefits realized from prior exercises of employee stock options and restricted stock |
1.2 |
2.4 |
| Principal payments on long-term debt |
(5.5) |
|
| Net cash (used in) provided by financing activities |
(4.7) |
2.4 |
| Effect of foreign exchange rate changes on cash and cash equivalents |
(4.7) |
0.8 |
| Net increase (decrease) in cash and cash equivalents |
2.9 |
(253.1) |
| Cash and cash equivalents, beginning of period |
292.5 |
637.8 |
| Cash and cash equivalents, end of period |
295.4 |
384.7 |
| Cash paid (refunded) during period for: |
|
|
| Interest |
13.8 |
0.8 |
| Income taxes |
(24.4) |
28.4 |
| Supplemental schedule of non-cash activities: |
|
|
| Accrued property additions |
$ 6.2 |
$ 8.2 |