CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Years

2021

Cash flow from operating activities:

Net income

$              492.8

$              390.6

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation expense

41.3

39.7

Amortization expense

138.6

157.8

Deferred income taxes

(26.9)

(52.9)

Stock-based compensation

122.6

83.0

Divestitures gain, net

(43.9)

(12.2)

Other, net

19.2

42.4

(Increase) decrease in assets:

Accounts receivable, net

(9.0)

(14.0)

Inventories

(72.9)

(5.0)

Other current and non-current assets

(30.2)

2.5

Increase (decrease) in liabilities:

Accounts payable

60.3

(15.7)

Accrued compensation and benefits

54.1

34.9

Deferred revenue

27.4

65.7

Other current and non-current liabilities

(22.9)

(44.8)

Net cash provided by operating activities

750.5

672.0

Cash flow from investing activities:

Acquisitions of businesses, net of cash acquired

(236.1)

(201.9)

Purchases of property and equipment

(46.1)

(56.8)

Net proceeds from sale of businesses

67.3

27.5

Net proceeds from sale of property and equipment

20.8

0.4

Other, net

(9.4)

(1.0)

Net cash used in investing activities

(203.5)

(231.8)

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

(15.1)

10.0

Repurchases of common stock

(180.0)

(81.6)

Proceeds from debt and revolving credit lines

198.9

1,173.8

Payments on debt and revolving credit lines

(449.9)

(1,486.0)

Other, net

(1.6)

(16.5)

Net cash used in financing activities

(447.7)

(400.3)

Effect of exchange rate changes on cash and cash equivalents

(11.3)

8.6

Net increase in cash and cash equivalents

88.0

48.5

Cash and cash equivalents - beginning of period

237.7

189.2

Cash and cash equivalents - end of period

$              325.7

$              237.7