v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 631.7 $ 584.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40.9 33.7
Share-based compensation expense 69.6 75.3
Impairment of property, plant, and equipment 21.7 0.0
Other 14.0 (16.0)
Changes in operating assets and liabilities:    
Accounts receivable (100.0) (11.8)
Inventories (18.6) (24.0)
Accounts payable and accrued expenses 43.5 27.7
Other assets and liabilities (49.9) (60.9)
Net cash provided by operating activities 652.9 608.7
Cash flows from investing activities:    
Purchases of property, plant, and equipment (137.1) (83.3)
Deposits (9.8) (4.7)
Purchases of available-for-sale debt securities (2,499.2) (759.8)
Maturities of available-for-sale debt securities 915.9 671.8
Sales of available-for-sale debt securities 1,265.6 831.8
Purchase of investment in privately-held company 0.0 (0.5)
Net cash (used in) provided by investing activities (464.6) 655.3
Cash flows from financing activities:    
Payments to repurchase common stock 0.0 (1,000.0)
Proceeds from line of credit 200.0 0.0
Repayment of line of credit (500.0) (200.0)
Excise tax paid on net share repurchase (5.0) 0.0
Payments of debt issuance costs (11.5) (2.7)
Proceeds from the exercise of stock options 34.7 94.3
Proceeds from the issuance of stock under ESPP 4.9 3.9
RSUs withheld for taxes (15.5) (11.5)
Net cash used in financing activities (292.4) (1,116.0)
Net (decrease) increase in cash and cash equivalents (104.1) 148.0
Cash and cash equivalents, beginning of period 1,697.2 1,207.7
Cash and cash equivalents, end of period 1,593.1 1,355.7
Supplemental cash flow information:    
Cash paid for interest 9.6 23.4
Cash paid for income taxes 253.9 212.0
Non-cash investing and financing activities:    
Non-cash additions to property, plant, and equipment 66.2 17.9
Measurement period adjustment to purchase price 0.0 1.4
Excise tax on net share repurchase 0.0 6.4
Receivable from maturity of available-for-sale debt securities $ 0.0 $ 45.0