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 $ 63.8 $ 139.6
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 22.6 23.8
Amortization of intangible assets 97.6 54.1
Impairment charges 0.4 7.0
Stock-based compensation 43.0 46.6
Amortization of loan discount 3.9 3.7
Change in contingent consideration (26.1) (13.4)
Change in deferred taxes, net (8.8) (6.4)
Loss from foreign currency 6.2 0.5
Non-cash lease expenses (benefit), net 7.3 (3.0)
Other operating activities (0.6) 0.0
Changes in operating assets and liabilities:     
Accounts receivable (3.8) 10.6
Prepaid expenses and other current and non-current assets (6.4) 8.4
Accounts payable  18.7 (34.3)
Accrued expenses and other current and non-current liabilities (52.9) (57.1)
Net cash provided by operating activities  164.9 180.1
Cash flows from investing activities    
Purchase of property and equipment (15.2) (23.3)
Capitalization of internal use software costs (15.9) (19.5)
Purchase of software for internal use (14.2) (15.2)
Purchase of short-term investments (159.8) (390.1)
Proceeds from short-term investments 69.1 0.0
Other investing activities 0.8 (1.0)
Net cash used in investing activities (135.2) (449.1)
Cash flows from financing activities    
Dividend paid (74.9) (37.1)
Repayments on bank borrowings (9.5) (9.5)
Payment for share buyback (10.9) 0.0
Payment of tax withholdings on stock-based payments (1.7) (1.3)
Net cash out flow for business acquisitions and other 0.0 (0.7)
Net cash used in financing activities (97.0) (48.6)
Effect of exchange rate changes on cash and cash equivalents and restricted cash 2.0 (2.3)
Net change in cash, cash equivalents and restricted cash (65.3) (319.9)
Cash, cash equivalents and restricted cash at the beginning of the period 567.7 1,031.7
Cash, cash equivalents and restricted cash at the end of the period 502.4 711.8
Supplemental cash flow disclosures    
Cash paid for income taxes 41.1 62.9
Cash paid for interest 68.5 73.9
Cash received for interest 11.5 27.5
Non-cash financing and investing activities    
Accrued dividend 37.6 37.2
Right-of-use assets acquired under operating leases 34.3 3.4
Accrued purchases of property and equipment and intangible assets (5.0) 0.0
Capitalization of stock-based compensation costs $ 0.5 $ 1.1