CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

First Three Quarters of

2017

2016

Cash flow from operating activities:

Net Income

$  156.1

$    94.5

Adjustments to reconcile net income to net cash provided by

operating activities:

Depreciation expense

26.4

27.9

Amortization expense

109.1

117.2

Provision for doubtful accounts

1.2

2.5

Deferred income taxes

(0.2)

1.2

Stock-based compensation

45.0

40.0

Income from equity method investments

(22.8)

(13.9)

Divestiture (gain) loss, net

(8.0)

0.1

Provision for excess and obsolete inventories

3.6

12.0

Other non-cash items

(1.5)

3.9

Decrease (increase) in assets:

Accounts receivable

(34.2)

(9.9)

Other receivables

0.7

(2.7)

Inventories

(19.4)

25.7

Other current and non-current assets

(21.9)

(11.1)

Increase (decrease) in liabilities:

Accounts payable

27.8

2.7

Accrued compensation and benefits

7.5

(12.8)

Deferred revenue

29.6

32.8

Accrued warranty

0.1

(0.5)

Other liabilities

10.9

(22.6)

Net cash provided by operating activities

310.0

287.0

Cash flow from investing activities:

Acquisitions of businesses, net of cash acquired

(286.7)

(22.3)

Acquisitions of property and equipment

(26.4)

(19.7)

Purchases of equity method investments

—

(1.5)

Acquisitions of intangible assets

—

(0.3)

Purchases of short-term investments

(220.0)

(62.1)

Net proceeds from sales of businesses

20.1

10.7

Proceeds from maturities of short-term investments

84.6

—

Proceeds from sales of short-term investments

92.1

—

Dividends received from equity method investments

12.9

16.5

Other

0.5

0.1

Net cash used in investing activities

(322.9)

(78.6)

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

73.0

50.0

Repurchases and retirement of common stock

(111.5)

(102.2)

Proceeds from debt and revolving credit lines

517.0

291.0

Payments on debt and revolving credit lines

(444.3)

(351.3)

Net cash provided by (used in) financing activities

34.2

(112.5)

Effect of exchange rate changes on cash and cash equivalents

17.6

1.6

Net increase in cash and cash equivalents

38.9

97.5

Cash and cash equivalents - beginning of period

216.1

116.0

Cash and cash equivalents - end of period

$  255.0

$  213.5