v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 322.2 $ 306.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19.8 15.0
Share-based compensation expense 31.8 25.6
Other 9.4 (10.5)
Changes in operating assets and liabilities:    
Accounts receivable (42.7) (28.3)
Inventories (11.2) (9.3)
Accounts payable and accrued expenses (2.6) 1.9
Other assets and liabilities 134.5 75.5
Net cash provided by operating activities 461.2 376.5
Cash flows from investing activities:    
Purchases of property, plant, and equipment (74.9) (38.2)
Deposits (9.2) (4.3)
Purchases of available-for-sale debt securities (692.3) (529.3)
Maturities of available-for-sale debt securities 611.7 475.3
Sales of available-for-sale debt securities 0.0 831.8
Net cash (used in) provided by investing activities (164.7) 735.3
Cash flows from financing activities:    
Payments to repurchase common stock 0.0 (1,000.0)
Repayment of line of credit (100.0) (100.0)
Payments of debt issuance costs 0.0 (2.7)
Proceeds from the exercise of stock options 16.6 42.2
Proceeds from the issuance of stock under ESPP 4.9 3.9
RSUs withheld for taxes (15.3) (11.4)
Net cash used in financing activities (93.8) (1,068.0)
Net increase in cash and cash equivalents 202.7 43.8
Cash and cash equivalents, beginning of period 1,697.2 1,207.7
Cash and cash equivalents, end of period 1,899.9 1,251.5
Supplemental cash flow information:    
Cash paid for interest 5.4 12.6
Cash paid for income taxes 0.5 4.7
Non-cash investing and financing activities:    
Non-cash additions to property, plant, and equipment 47.2 23.6
Measurement period adjustment to purchase price 0.0 1.4
Excise tax on net share repurchase $ 0.0 $ 6.9