CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

First Three Quarters of

2022

Cash flow from operating activities:

Net income

$                  364.1

$                  377.5

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

Depreciation expense

30.1

30.9

Amortization expense

97.9

105.1

Deferred income taxes

(41.3)

(8.9)

Stock-based compensation

93.2

95.1

Divestitures gain, net

(103.1)

(43.6)

Other, net

22.7

5.7

(Increase) decrease in assets:

Accounts receivable, net

13.2

33.7

Inventories

(99.5)

(28.4)

Other current and non-current assets

(31.7)

(42.5)

Increase (decrease) in liabilities:

Accounts payable

(3.8)

50.8

Accrued compensation and benefits

(52.9)

25.1

Deferred revenue

14.3

(8.4)

Other current and non-current liabilities

(18.1)

3.1

Net cash provided by operating activities

285.1

595.2

Cash flow from investing activities:

Acquisitions of businesses, net of cash acquired

(318.1)

(1.2)

Purchases of property and equipment

(36.6)

(31.4)

Net proceeds from divestitures

214.3

67.3

Net proceeds from sale of property and equipment

0.1

20.7

Other, net

(11.9)

(4.4)

Net cash (used in) provided by investing activities

(152.2)

51.0

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

(4.8)

1.1

Repurchases of common stock

(394.7)

(140.0)

Proceeds from debt and revolving credit lines

529.3

198.9

Payments on debt and revolving credit lines

(235.9)

(421.7)

Other, net

(8.9)

(1.5)

Net cash used in financing activities

(115.0)

(363.2)

Effect of exchange rate changes on cash and cash equivalents

(34.9)

(7.5)

Net (decrease) increase in cash and cash equivalents

(17.0)

275.5

Cash and cash equivalents - beginning of period

325.7

237.7

Cash and cash equivalents - end of period

$                 308.7

$                 513.2