v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 274.9 $ 322.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22.6 19.8
Share-based compensation expense 33.9 31.8
Net unrealized losses on equity securities 61.6 5.3
Deferred income taxes 25.9 0.0
Other 32.0 4.1
Changes in operating assets and liabilities:    
Accounts receivable 38.2 (42.7)
Inventories (40.1) (11.2)
Accounts payable and accrued expenses (12.7) (2.6)
Other assets and liabilities 27.0 134.5
Net cash provided by operating activities 463.3 461.2
Cash flows from investing activities:    
Purchases of property, plant, and equipment (100.8) (74.9)
Deposits (5.7) (9.2)
Purchases of available-for-sale debt securities (701.7) (692.3)
Maturities of available-for-sale debt securities 269.0 611.7
Sales of available-for-sale debt securities 1,307.9 0.0
Purchase of investment in privately held company (25.0) 0.0
Net cash provided by (used in) investing activities 743.7 (164.7)
Cash flows from financing activities:    
Payments to repurchase common stock (1,500.0) 0.0
Repayment of line of credit 0.0 (100.0)
Proceeds from the exercise of stock options 68.3 16.6
Proceeds from the issuance of stock under ESPP 5.6 4.9
RSUs withheld for taxes (58.3) (15.3)
Net cash used in financing activities (1,484.4) (93.8)
Net (decrease) increase in cash and cash equivalents (277.4) 202.7
Cash and cash equivalents, beginning of period 1,557.1 1,697.2
Cash and cash equivalents, end of period 1,279.7 1,899.9
Supplemental cash flow information:    
Cash paid for interest 1.9 5.4
Cash paid for income taxes 1.5 0.5
Non-cash investing and financing activities:    
Non-cash additions to property, plant, and equipment 99.6 47.2
Excise tax on net share repurchase $ 8.4 $ 0.0