v3.26.3
STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities    
Net income $ 2,199.3 $ 2,091.7
Adjustments to reconcile Net income to Net operating cash:    
Depreciation 296.0 242.0
Non-cash lease expense 373.4 384.2
Amortization of intangible assets 264.7 248.5
Provisions for environmental-related matters - net 3.3 14.1
Deferred income taxes (30.6) 55.4
Stock-based compensation expense 85.0 91.5
Amortization of non-traded investments 94.6 80.9
Loss on sale or disposition of assets 5.9 3.0
Other 2.4 (19.7)
Change in working capital accounts - net (334.4) (432.3)
Change in operating lease liabilities (362.3) (382.8)
Costs incurred for environmental-related matters (25.7) (27.8)
Other 19.5 10.4
Net operating cash 2,591.1 2,359.1
Investing Activities    
Capital expenditures (375.4) (567.2)
Acquisition of businesses, net of cash acquired (65.7) (119.3)
Proceeds from sale of assets 5.6 0.0
Other (94.6) (1,208.2)
Net investing cash (530.1) (1,894.7)
Financing Activities    
Net increase in short-term borrowings 1,158.9 1,184.1
Proceeds from long-term debt 615.1 1,499.2
Payments of long-term debt (850.0) (1,050.0)
Payments for credit facility and debt issuance costs (0.3) (13.6)
Payments of cash dividends (588.9) (594.0)
Proceeds from stock options exercised 109.5 118.5
Treasury stock purchased (2,357.1) (1,538.4)
Proceeds from real estate financing transactions 0.0 40.7
Other (81.4) (82.8)
Net financing cash (1,994.2) (436.3)
Effect of exchange rate changes on Cash and cash equivalents (9.8) 3.0
Net increase in Cash and cash equivalents 57.0 31.1
Cash and cash equivalents at beginning of year 207.2 210.4
Cash and cash equivalents at end of period 264.2 241.5
Supplemental cash flow information:    
Income taxes paid 525.2 458.1
Interest paid $ 433.0 $ 343.3