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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 355.0 $ 357.0
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:    
Depreciation and Amortization 281.0 304.0
Deferred Income Taxes (70.0) 38.0
Gain on Disposal of Business (75.0) 0.0
Asset Impairment Charges 0.0 7.0
Other, Net 30.0 35.0
Changes in Operating Assets and Liabilities (357.0) (450.0)
Net Cash Provided by Operating Activities 164.0 291.0 Close
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital Spending (564.0) (372.0)
Packaging Machinery Spending (16.0) (13.0)
Acquisition of Businesses, Net of Cash Acquired 0.0 (100.0)
Proceeds from the Sale of Business 711.0 0.0
Beneficial Interest on Sold Receivables 96.0 60.0
Beneficial Interest Obtained in Exchange for Proceeds (50.0) (9.0)
Other, Net (2.0) (3.0)
Net Cash Provided By (Used In) Investing Activities 175.0 (437.0) Close
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of Common Stock (200.0) (29.0)
Proceeds from Issuance of Debt 756.0 0.0
Retirement of Long-Term Debt (400.0) 0.0
Payments on Debt (19.0) (10.0)
Borrowings under Revolving Credit Facilities 2,479.0 2,636.0
Payments on Revolving Credit Facilities (2,892.0) (2,379.0)
Repurchase of Common Stock related to Share-Based Payments (23.0) (20.0)
Debt Issuance Costs (14.0) 0.0
Dividends Paid (61.0) (61.0)
Other, Net 6.0 (6.0)
Net Cash (Used In) Provided By Financing Activities (368.0) 131.0 Close
Decrease in cash and cash equivalents, including cash classified within Assets Held for Sale (29.0) (15.0)
Less Cash reclassified to Assets Held for Sale 0.0 7.0
Effect of Exchange Rate Changes on Cash (8.0) (3.0) Close
Net Decrease in Cash and Cash Equivalents (37.0) (25.0) Close
Cash and Cash Equivalents at Beginning of Period 162.0 150.0
Cash and Cash Equivalents at End of Period 125.0 125.0
Non-cash Investing Activities:    
Beneficial Interest Obtained in Exchange for Trade Receivables 74.0 67.0
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities 30.0 35.0
Non-cash Investing Activities $ 104.0 $ 102.0