CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

First Three Quarters of

2024

Cash flow from operating activities:

Net income

$                           1,414.2

$                              248.3

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

Depreciation and amortization

179.2

185.2

Deferred income taxes

31.2

(104.0)

Stock-based compensation

110.3

112.5

Divestitures gain, net

(1,695.0)

(10.6)

Other, net

42.5

(5.9)

(Increase) decrease in assets:

Accounts receivable, net

103.9

24.0

Inventories

17.0

46.3

Other current and non-current assets

(51.6)

(35.5)

Increase (decrease) in liabilities:

Accounts payable

18.0

5.0

Accrued compensation and benefits

7.6

12.3

Deferred revenue

12.0

(39.7)

Income taxes payable

250.7

62.5

Other current and non-current liabilities

(23.7)

(2.2)

Net cash provided by operating activities

416.3

498.2

Cash flow from investing activities:

Proceeds from divestitures

1,923.2

15.1

Acquisitions of businesses, net of cash acquired

(22.0)

(2,088.9)

Purchases of property and equipment

(27.5)

(32.2)

Other, net

(13.7)

41.6

Net cash provided by (used in) investing activities

1,860.0

(2,064.4)

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

(6.0)

8.0

Repurchases of common stock

(175.0)

—

Proceeds from debt and revolving credit lines

521.2

3,398.8

Payments on debt and revolving credit lines

(1,799.3)

(1,856.8)

Other, net

(4.6)

(29.3)

Net cash (used in) provided by financing activities

(1,463.7)

1,520.7

Effect of exchange rate changes on cash and cash equivalents

2.5

(2.6)

Net increase (decrease) in cash and cash equivalents

815.1

(48.1)

Cash and cash equivalents - beginning of period ⁽¹⁾

238.9

271.0

Cash and cash equivalents - end of period ⁽¹⁾

$                           1,054.0

$                              222.9

Supplemental cash flow disclosure:

Cash tax paid, net, excluding tax for the Ag divestiture

$                                 81.6

$                                 72.5

Cash tax paid for the Ag divestiture

$                                 87.1

$                                    —

(1) Includes $17.1 million, $9.1 million, and $6.1 million of cash and cash equivalents classified as held for sale as of September 27, 2024,
December 29, 2023, and September 29, 2023.