v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 285.2 $ 289.9
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 123.0 104.6
Share-based compensation 79.5 83.7
Non-cash interest expense 3.7 3.7
Deferred income taxes (14.7) (56.5)
Other non-cash income and expenses (12.7) (23.4)
Changes in operating assets and liabilities:    
Accounts receivable, net (333.5) 28.0
Inventory (12.3) (18.4)
Prepaid and other assets (5.5) (45.4)
Operating lease right-of-use assets and liabilities, net (3.0) (3.6)
Accounts payable and accrued liabilities 359.4 181.9
Accrued payroll and related expenses 15.3 (55.2)
Deferred revenue and other liabilities 2.4 (0.7)
Net cash provided by operating activities 486.8 488.6
Investing activities    
Purchases of marketable securities (1,070.7) (1,776.6)
Proceeds from sale and maturity of marketable securities 1,288.9 1,788.6
Purchases of property and equipment (181.1) (123.0)
Other investing activities (0.5) (3.1)
Net cash provided by (used in) investing activities 36.6 (114.1)
Financing activities    
Net proceeds from issuance of common stock 14.2 13.4
Other financing activities (3.4) (10.1)
Net cash provided by financing activities 10.8 3.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash 18.8 (4.8)
Increase in cash, cash equivalents and restricted cash 553.0 373.0
Cash, cash equivalents and restricted cash, beginning of period 607.3 567.5
Cash, cash equivalents and restricted cash, end of period 1,160.3 940.5
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 1,159.0 939.2
Restricted cash 1.3 1.3
Total cash, cash equivalents and restricted cash 1,160.3 940.5
Supplemental disclosure of non-cash investing and financing transactions:    
Acquisition of property and equipment included in accounts payable and accrued liabilities 51.7 90.7
Right-of-use assets obtained in exchange for operating lease liabilities 0.5 8.7
Right-of-use assets obtained in exchange for finance lease liabilities $ 1.4 $ 9.8