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611700000 1307900000 0 25000000.0 0 743700000 -164700000 1500000000 0 0 100000000.0 68300000 16600000 5600000 4900000 58300000 15300000 -1484400000 -93800000 -277400000 202700000 1557100000 1697200000 1279700000 1899900000 1900000 5400000 1500000 500000 99600000 47200000 8400000 0 Organization and Business Description<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of innovative products to address the unmet medical needs of patients with chronic and life-threatening conditions. In 2021, we converted to a Delaware public benefit corporation, with the express public benefit purpose </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">to provide a brighter future for patients through (a) the development of novel pharmaceutical therapies; and (b) technologies that expand the availability of transplantable organs</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We have approval from the U.S. Food and Drug Administration (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">FDA</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) to market the following therapies: Tyvaso DPI</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Inhalation Powder (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Tyvaso DPI</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Tyvaso</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Inhalation Solution (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Nebulized Tyvaso</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Injection (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Orenitram</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Extended-Release Tablets (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Orenitram</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Unituxin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (dinutuximab) Injection (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Unituxin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), and Adcirca</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (tadalafil) Tablets (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Adcirca</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">). We also derive revenues outside the United States from sales of Nebulized Tyvaso, Remodulin, and Unituxin, and within the United States from sales of commercial </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">ex vivo</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> lung perfusion services.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As used in these notes to our consolidated financial statements, unless the context otherwise requires, the terms “</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">we</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">”, “</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">us</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">”, “</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">our</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">”, and similar terms refer to United Therapeutics Corporation and its consolidated subsidiaries.</span></div> Basis of Presentation<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">SEC</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) for interim financial information. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles for complete financial statements. These consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the accompanying notes to our consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 25, 2026.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In our management’s opinion, the accompanying consolidated financial statements contain all adjustments, including normal, recurring adjustments, necessary to fairly present our financial position as of March 31, 2026 and December 31, 2025, and our statements of operations, comprehensive income, stockholders’ equity, and cash flows for the three-month periods ended March 31, 2026 and 2025. Interim results are not necessarily indicative of results for an entire year. Certain prior year amounts have been reclassified to conform to the current year presentation. In the consolidated statements of cash flows, we reclassified prior amounts within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">other</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> to </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">net unrealized losses on equity securities </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">to conform with the current period presentation.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Recently Issued Accounting Standards </span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Adopted During the Period</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">None.</span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Not Yet Adopted</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-03, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Income Statement</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Reporting Comprehensive Income</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, which</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">requires public business entities to disclose, on an annual and interim basis, disaggregated information about certain income statement expense line items in the notes to the financial statements. Public business entities are required to apply the guidance prospectively and may elect to apply it retrospectively. This ASU is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, although early adoption is permitted. We are evaluating the impact of adopting this guidance on our consolidated financial statements.</span></div> <div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Recently Issued Accounting Standards </span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Adopted During the Period</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">None.</span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Not Yet Adopted</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-03, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Income Statement</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Reporting Comprehensive Income</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, which</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">requires public business entities to disclose, on an annual and interim basis, disaggregated information about certain income statement expense line items in the notes to the financial statements. Public business entities are required to apply the guidance prospectively and may elect to apply it retrospectively. This ASU is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, although early adoption is permitted. We are evaluating the impact of adopting this guidance on our consolidated financial statements.</span></div> Investments<div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Marketable Investments</span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Available-for-Sale Debt Securities</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Available-for-sale debt securities are recorded at fair value, with the portion of the unrealized gains and losses that are not credit-related included as a component of </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">accumulated other comprehensive (loss) income</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> in stockholders’ equity, until realized. Available-for-sale debt securities consisted of the following (in millions):</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.856%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.009%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized<br/>Cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Gains</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. government and agency securities</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,723.3 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,722.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Corporate debt securities</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">403.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">403.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.8 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.1)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.855%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Reported under the following captions in our consolidated balance sheets:</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">808.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Non-current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,317.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.856%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.009%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized<br/>Cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Gains</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. government and agency securities</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,433.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,443.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Corporate debt securities</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">603.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">606.8 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,036.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14.2 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,050.0 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.855%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Reported under the following captions in our consolidated balance sheets:</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,236.3 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Non-current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,776.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,050.0 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-indent:3.6pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following tables present gross unrealized losses and fair value for those available-for-sale debt securities that were in an unrealized loss position as of March 31, 2026 and December 31, 2025, aggregated by investment category and length of time that the individual securities have been in a continuous loss position (in millions):</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:39.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.166%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Less than 12 months</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">12 months or longer</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. government and agency securities</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">822.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">822.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Corporate debt securities</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">119.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">119.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">942.2 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.1)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">942.2 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.1)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.412%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.013%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Less than 12 months</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">12 months or longer</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">U.S. government and agency securities</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">215.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">218.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Corporate debt securities</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">234.6 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.5 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As of March 31, 2026 and December 31, 2025, we held 98 and 87 available-for-sale debt securities, respectively, that were in an unrealized loss position. In assessing whether the decline in fair value as of March 31, 2026 of any of these securities resulted from a credit loss, we consulted with our investment managers and reviewed the credit ratings for each security. We believe that these unrealized losses are a direct result of the current interest rate environment and do not represent an indication of credit loss. We do not intend to sell the investments in unrealized loss positions prior to their maturity, and it is not more likely than not that we will be required to sell these investments before recovery of their amortized cost basis. There were no impairments due to credit loss on our available-for-sale debt securities during the three months ended March 31, 2026 and 2025.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following table summarizes the contractual maturities of available-for-sale debt securities (in millions). Actual maturities may differ from contractual maturities because the issuers of certain of these debt securities have the right to call the securities or prepay their obligations under the securities with or without penalties.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.591%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.245%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.093%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized Cost</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Due within one year</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">807.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">808.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Due in one to three years</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,319.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,317.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.8 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investments in Equity Securities with Readily Determinable Fair Values</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We held investments in equity securities with readily determinable fair values, in the aggregate, of $65.3 million and $126.9 million as of March 31, 2026 and December 31, 2025, respectively, which are included in current </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">marketable investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> in our consolidated balance sheets. Changes in the fair value of publicly traded equity securities are recorded in our consolidated statements of operations within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">other expense, net</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">. See Note 4—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurements</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Investments in Privately Held Companies</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As of March 31, 2026 and December 31, 2025, we maintained non-controlling equity investments in privately held companies of $91.6 million and $53.8 million, respectively. We invested $25.0 million and zero in privately held companies during the three months ended March 31, 2026 and March 31, 2025, respectively. We measure these investments using the measurement alternative because the fair values of these investments are not readily determinable. Under this alternative, the investments are measured at cost, less any impairment, and adjusted for any observable price changes. We include our investments in privately held companies within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">other non-current assets</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> in our consolidated balance sheets. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">When an observable price transaction occurs that is identified as similar or identical to our investment, we perform a valuation analysis to assess the fair value of our investment using various inputs, such as the discount rate, time to a liquidation event, and price volatility of peer company stocks. We adjust the fair value of our investment based on the valuation analysis and recognize the gain or loss in the period in which the observable price change occurred. During the three months ended March 31, 2026, one of the privately held companies in which we invested raised additional capital by issuing equity securities similar to ours at an increased valuation compared to prior financing rounds, which resulted in an increase of $12.8 million in the value of our investment. This gain was recorded within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">other expense, net </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">in our consolidated statements of operations.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">These investments are subject to a periodic impairment review and, if impaired, the investment is measured and recorded at fair value in accordance with ASC 820, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurements</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">For non-controlling equity investments in privately held companies in which we held an investment as of March 31, 2026, cumulative impairments and downward fair value adjustments were $5.3 million and cumulative upward fair value adjustments were $14.8 million.</span></div> Available-for-sale debt securities consisted of the following (in millions):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.856%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.009%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized<br/>Cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Gains</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. government and agency securities</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,723.3 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,722.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Corporate debt securities</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">403.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">403.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.8 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.1)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.855%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Reported under the following captions in our consolidated balance sheets:</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">808.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Non-current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,317.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.856%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.009%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized<br/>Cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Gains</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. government and agency securities</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,433.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,443.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Corporate debt securities</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">603.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">606.8 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,036.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14.2 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,050.0 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.850%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.855%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Reported under the following captions in our consolidated balance sheets:</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,236.3 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Non-current marketable investments</span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,776.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,050.0 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 1723300000 2700000 3300000 1722700000 403500000 700000 800000 403400000 2126800000 3400000 4100000 2126100000 0 808700000 1317400000 2126100000 2433000000 10500000 300000 2443200000 603100000 3700000 0 606800000 3036100000 14200000 300000 3050000000 37000000.0 1236300000 1776700000 3050000000 <div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following tables present gross unrealized losses and fair value for those available-for-sale debt securities that were in an unrealized loss position as of March 31, 2026 and December 31, 2025, aggregated by investment category and length of time that the individual securities have been in a continuous loss position (in millions):</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:39.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.166%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Less than 12 months</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">12 months or longer</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. government and agency securities</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">822.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">822.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Corporate debt securities</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">119.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">119.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">942.2 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.1)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">942.2 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.1)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.412%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.013%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Less than 12 months</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">12 months or longer</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Losses</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">U.S. government and agency securities</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">215.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">218.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Corporate debt securities</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">234.6 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.5 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 822600000 3300000 0 0 822600000 3300000 119600000 800000 0 0 119600000 800000 942200000 4100000 0 0 942200000 4100000 215000000.0 300000 3500000 0 218500000 300000 19600000 0 0 0 19600000 0 234600000 300000 3500000 0 238100000 300000 98 87 0 0 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following table summarizes the contractual maturities of available-for-sale debt securities (in millions). Actual maturities may differ from contractual maturities because the issuers of certain of these debt securities have the right to call the securities or prepay their obligations under the securities with or without penalties.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.591%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.245%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.093%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized Cost</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Due within one year</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">807.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">808.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Due in one to three years</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,319.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,317.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.8 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,126.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 807700000 808700000 1319100000 1317400000 2126800000 2126100000 65300000 126900000 91600000 53800000 25000000.0 0 12800000 5300000 14800000 Fair Value Measurements<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We account for certain assets and liabilities at fair value and classify these assets and liabilities within the fair value hierarchy (Level 1, Level 2, or Level 3). Our other current assets and other current liabilities have fair values that approximate their carrying values.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Assets and liabilities subject to fair value measurements are as follows (in millions):</span></div><div style="margin-bottom:5pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.548%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.162%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 1</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 2</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 3</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Balance</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Assets</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Money market funds</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">397.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">397.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Time deposits</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">205.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">205.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">U.S. government and agency securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,722.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,722.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Corporate debt securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">403.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">403.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Equity securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">65.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">65.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total assets</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">668.3 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,126.1 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,794.4 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Liabilities</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Contingent consideration</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total liabilities</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.548%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.162%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 1</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 2</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 3</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Balance</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Assets</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Money market funds</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">753.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">753.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Time deposits</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">U.S. government and agency securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,443.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,443.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Corporate debt securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">606.8 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">606.8 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Equity securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">126.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">126.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total assets</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">880.0 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3,050.0 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3,930.0 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Liabilities</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Contingent consideration</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total liabilities</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">cash and cash equivalents</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(2)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">cash and cash equivalents</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">current</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">non-current marketable investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets. See Note 3—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Marketable Investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Available-for-Sale Debt Securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> for further information. The fair value of these securities is principally measured or corroborated by trade data for identical securities for which related trading activity is not sufficiently frequent to be considered a Level 1 input or comparable securities that are more actively traded.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(3)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">current marketable investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets. The fair value of these securities is based on quoted market prices for identical instruments in active markets. During the three months ended March 31, 2026 and March 31, 2025, we recognized $61.6 million and $5.3 million of net unrealized losses, respectively, on these securities. These net unrealized losses are recorded within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">other expense, net </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">in our consolidated statements of operations. See Note 3—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Investments—Marketable Investments—Investments in Equity Securities with Readily Determinable Fair Values</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(4)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%"> other current liabilities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">other</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">non-current liabilities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets. The fair value of our contingent consideration obligations is estimated using probability-weighted discounted cash flow models (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:700;line-height:115%">DCFs</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">). The DCFs incorporate Level 3 inputs, including estimated discount rates, that we believe market participants would consider relevant in pricing and the projected timing and amount of cash flows, which are estimated and developed, in part, based on the requirements specific to each acquisition agreement. The fair value of our contingent consideration liabilities increased by $1.7 million during the period from December 31, 2025 to March 31, 2026. The loss was recorded within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">research and development </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">in our consolidated statements of operations.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:115%">Fair Value of Financial Instruments</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:115%">The carrying amounts of </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:115%">cash and cash equivalents</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:115%">, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:115%">accounts receivable</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:115%">, and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:115%">accounts payable and accrued expenses</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:115%"> approximate fair value because of their short maturities. The fair values of our marketable investments and contingent consideration are reported above within the fair value hierarchy. See Note 3—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:115%">Investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:115%">.</span></div> <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Assets and liabilities subject to fair value measurements are as follows (in millions):</span></div><div style="margin-bottom:5pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.548%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.162%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of March 31, 2026</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 1</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 2</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 3</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Balance</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Assets</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Money market funds</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">397.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">397.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Time deposits</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">205.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">205.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">U.S. government and agency securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,722.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,722.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Corporate debt securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">403.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">403.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Equity securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">65.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">65.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total assets</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">668.3 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,126.1 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,794.4 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Liabilities</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Contingent consideration</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total liabilities</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.2 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.548%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.162%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 1</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 2</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 3</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Balance</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Assets</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Money market funds</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">753.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">753.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Time deposits</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">U.S. government and agency securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,443.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2,443.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Corporate debt securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">606.8 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">606.8 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Equity securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">126.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">126.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total assets</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">880.0 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3,050.0 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3,930.0 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Liabilities</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Contingent consideration</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total liabilities</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">cash and cash equivalents</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(2)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">cash and cash equivalents</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">current</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">non-current marketable investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets. See Note 3—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Marketable Investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Available-for-Sale Debt Securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> for further information. The fair value of these securities is principally measured or corroborated by trade data for identical securities for which related trading activity is not sufficiently frequent to be considered a Level 1 input or comparable securities that are more actively traded.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(3)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">current marketable investments</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets. The fair value of these securities is based on quoted market prices for identical instruments in active markets. During the three months ended March 31, 2026 and March 31, 2025, we recognized $61.6 million and $5.3 million of net unrealized losses, respectively, on these securities. These net unrealized losses are recorded within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">other expense, net </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">in our consolidated statements of operations. See Note 3—</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Investments—Marketable Investments—Investments in Equity Securities with Readily Determinable Fair Values</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(4)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%;padding-left:4.97pt">Included in</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%"> other current liabilities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">other</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">non-current liabilities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> in our consolidated balance sheets. The fair value of our contingent consideration obligations is estimated using probability-weighted discounted cash flow models (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:700;line-height:115%">DCFs</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">). The DCFs incorporate Level 3 inputs, including estimated discount rates, that we believe market participants would consider relevant in pricing and the projected timing and amount of cash flows, which are estimated and developed, in part, based on the requirements specific to each acquisition agreement. The fair value of our contingent consideration liabilities increased by $1.7 million during the period from December 31, 2025 to March 31, 2026. The loss was recorded within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">research and development </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:115%">in our consolidated statements of operations.</span></div> 397500000 0 0 397500000 205500000 0 0 205500000 0 1722700000 0 1722700000 0 403400000 0 403400000 65300000 0 0 65300000 668300000 2126100000 0 2794400000 0 0 34200000 34200000 0 0 34200000 34200000 753100000 0 0 753100000 0 0 0 0 0 2443200000 0 2443200000 0 606800000 0 606800000 126900000 0 0 126900000 880000000.0 3050000000 0 3930000000 0 0 32500000 32500000 0 0 32500000 32500000 -61600000 -5300000 1700000 Inventories<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value and consist of the following, net of reserves (in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.955%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.333%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2026</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">December 31, 2025</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Raw materials</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.6 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">30.6 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Work-in-progress</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">35.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">35.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Finished goods</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">108.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">117.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total inventories</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">178.3 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">183.1 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div> <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value and consist of the following, net of reserves (in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.955%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.333%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2026</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">December 31, 2025</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Raw materials</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">34.6 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">30.6 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Work-in-progress</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">35.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">35.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Finished goods</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">108.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">117.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total inventories</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">178.3 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">183.1 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div> 34600000 30600000 35100000 35300000 108600000 117200000 178300000 183100000 Property, Plant, and Equipment<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Property, plant, and equipment consists of the following (in millions):</span></div><div style="margin-bottom:4pt;margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.801%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.333%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2026</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">December 31, 2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Land and land improvements</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">266.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">266.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Buildings, building improvements, and leasehold improvements</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">949.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">944.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Buildings under construction</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">704.2 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">592.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Furniture, equipment, and vehicles</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">509.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">493.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,430.0 </span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,297.5 </span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Less—accumulated depreciation</span></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(589.3)</span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(567.8)</span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Property, plant, and equipment, net</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,840.7 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,729.7 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;margin-top:9pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Depreciation expense for the three months ended </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">March 31, 2026 and </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2025 was $21.6 million and $19.6 million, respectively.</span></div> <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Property, plant, and equipment consists of the following (in millions):</span></div><div style="margin-bottom:4pt;margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.801%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.333%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2026</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">December 31, 2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Land and land improvements</span></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">266.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">266.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Buildings, building improvements, and leasehold improvements</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">949.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">944.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Buildings under construction</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">704.2 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">592.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Furniture, equipment, and vehicles</span></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">509.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">493.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,430.0 </span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,297.5 </span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Less—accumulated depreciation</span></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(589.3)</span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #6d6e71;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6e71;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(567.8)</span></td><td style="border-top:1.5pt solid #6d6e71;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Property, plant, and equipment, net</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,840.7 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,729.7 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 266500000 266500000 949700000 944700000 704200000 592700000 509600000 493600000 2430000000 2297500000 589300000 567800000 1840700000 1729700000 21600000 19600000 Debt<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">2025 Credit Agreement</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In April 2025, we entered into a credit agreement (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2025 Credit Agreement</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) with Wells Fargo Bank, National Association (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Wells Fargo</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) as administrative agent and a swingline lender, and various other lender parties, which provides for an unsecured revolving credit facility of up to $2.5 billion (which facility may, at our request, be increased by up to $750 million in the aggregate subject to obtaining commitments from existing or new lenders for such increase and other conditions). In accordance with the terms of the 2025 Credit Agreement, in May 2026, we extended the maturity date of the 2025 Credit Agreement by one year, to April 2031. The 2025 Credit Agreement provides the lenders with the ability to extend the maturity date by <span style="-sec-ix-hidden:f-476">one</span> additional year, to April 2032, if we request such an extension.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">At our option, amounts borrowed under the 2025 Credit Agreement bear interest at either an adjusted Term Secured Overnight Finance Rate (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Term SOFR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) or a fluctuating base rate, in each case, plus an applicable margin determined on a quarterly basis based on our consolidated ratio of total indebtedness to EBITDA (as calculated in accordance with the 2025 Credit Agreement). To date, we have elected to calculate interest on the outstanding balance at an adjusted Term SOFR plus an applicable margin.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">On April 25, 2025, we borrowed $200.0 million under the 2025 Credit Agreement, and used the funds to repay outstanding indebtedness under the 2022 Credit Agreement, as discussed below under the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">2022 Credit Agreement</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">During the second quarter of 2025, we paid down the entire $200.0 million balance under the 2025 Credit Agreement, which brought our aggregate outstanding balance to zero as of June 30, 2025. Our aggregate outstanding balance under the 2025 Credit Agreement remained zero as of March 31, 2026.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The 2025 Credit Agreement contains customary events of default and customary affirmative and negative covenants. As of March 31, 2026, we were in compliance with these covenants.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The interest expense reported in our consolidated statements of operations for the three months ended March 31, 2026 and 2025 relates to the 2025 Credit Agreement and 2022 Credit Agreement, respectively.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">2022 Credit Agreement</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In March 2022, we entered into a credit agreement (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2022 Credit Agreement</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) with Wells Fargo, as administrative agent and a swingline lender, and various other lender parties, which provided for: (1) an unsecured revolving credit facility of up to $1.2 billion; and (2) a second unsecured revolving credit facility of up to $800.0 million.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As of December 31, 2024, our outstanding aggregate principal balance under the 2022 Credit Agreement was $300.0 million. During the first quarter of 2025, we paid down $100.0 million of our balance under the 2022 Credit Agreement, which brought our aggregate outstanding balance down to $200.0 million as of March 31, 2025. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">On April 25, 2025, we terminated the 2022 Credit Agreement and entered into the 2025 Credit Agreement. We repaid in full all our obligations under the 2022 Credit Agreement in connection with the termination of the 2022 Credit Agreement and our entry into the 2025 Credit Agreement. There were no penalties associated with the early termination of the 2022 Credit Agreement.</span></div> 2500000000 750000000 P1Y 200000000.0 200000000.0 0 0 1200000000 800000000.0 300000000.0 100000000.0 200000000.0 Share-Based Compensation<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As of March 31, 2026, we have one shareholder-approved equity incentive plan: the United Therapeutics Corporation Amended and Restated 2015 Stock Incentive Plan (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2015 Plan</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">). The 2015 Plan provides for the issuance of up to 14,770,000 shares of our common stock pursuant to awards granted under the 2015 Plan, which includes 950,000 shares that were added pursuant to an amendment and restatement of the 2015 Plan approved by our shareholders in June 2025. We also have one equity incentive plan, the United Therapeutics Corporation 2019 Inducement Stock Incentive Plan (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2019 Inducement Plan</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), that has not been approved by our shareholders, as permitted by the Nasdaq Stock Market rules. The 2019 Inducement Plan was approved by our Board of Directors in February 2019 and provides for the issuance of up to 99,000 shares of our common stock under awards granted to newly hired employees. Currently, we grant equity-based awards to employees and members of our Board of Directors in the form of stock options and restricted stock units (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">RSUs</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) under the 2015 Plan, and we may grant RSUs to newly hired employees under the 2019 Inducement Plan. See the sections entitled </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Stock Options </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">and</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%"> RSUs </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">below for additional information regarding these equity-based awards.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">During the three months ended March 31, 2026 and 2025, we issued stock options and RSUs to certain executives with vesting conditions tied to the achievement of specified performance criteria through the end of 2028 and 2027, respectively. Additionally, during the three months ended March 31, 2026 and 2025, we issued RSUs to certain other employees with vesting conditions tied to the achievement of specified performance criteria during specified performance periods, with the latest performance period ending in 2028. Throughout each performance period, we reassess the estimated performance and update the number of performance-based awards that we believe will ultimately vest. Estimating future performance requires the use of judgment. Upon the conclusion of the performance period, the performance level achieved and the ultimate number of stock options and RSUs that may vest are determined. Share-based compensation expense for these awards is recorded ratably over their vesting period, depending on the specific terms of the award and anticipated achievement of the specified performance criteria.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We previously issued awards under the United Therapeutics Corporation 2011 Share Tracking Awards Plan (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">STAP</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">). We discontinued the issuance of STAP awards in June 2015 and all remaining outstanding STAP awards were exercised during the first quarter of 2025.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In 2012, our shareholders approved the United Therapeutics Corporation Employee Stock Purchase Plan (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">ESPP</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), which is structured to comply with Section 423 of the Internal Revenue Code. See the section entitled </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">ESPP </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">below for additional information regarding the ESPP.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following table reflects the components of share-based compensation expense recognized in our consolidated statements of operations (in millions):</span></div><div style="margin-bottom:9pt;margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.603%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.241%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Stock options</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.5 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.5 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">RSUs</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">21.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">23.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">STAP awards</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(0.8)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">ESPP</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total share-based compensation expense before tax</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">33.9 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">31.8 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Stock Options</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We estimate the fair value of stock options using the Black-Scholes-Merton valuation model, which requires us to make certain assumptions that can materially impact the estimation of fair value and related compensation expense. The assumptions used to estimate fair value include the price of our common stock, the expected volatility of our common stock, the risk-free interest rate, the expected term of stock option awards, and the expected dividend yield. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">During the three months ended March 31, 2026 and 2025, in addition to time-based stock options, we granted 0.3 million performance-based stock options in each period with grant date fair values of $53.9 million and $38.0 million, respectively, calculated based on the assumed achievement of the relevant financial performance condition. During the three months ended March 31, 2026 and 2025, we recorded $10.5 million and $7.7 million of share-based compensation expense, respectively, related to performance-based stock options.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following weighted average assumptions were used in estimating the fair value of stock options granted to employees during the three months ended March 31, 2026 and 2025:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.338%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.796%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2026</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Expected term of awards (in years)</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Expected volatility</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Risk-free interest rate</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Expected dividend yield</span></div></td><td colspan="2" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.0 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.0 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">A summary of the activity and status of stock options under the 2015 Plan during the three-month period ended March 31, 2026 is presented below:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.350%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.713%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Number of</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Options</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Weighted</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Average</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Exercise</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Price</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Weighted</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Average</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Remaining</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Contractual</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Term (in Years)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Aggregate</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Intrinsic</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Value (in millions)</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Outstanding as of January 1, 2026</span></div></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4,636,330 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">166.11 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Granted</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">289,956 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">536.12 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Exercised</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(495,147)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">138.00 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Forfeited</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(365)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.26 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Outstanding as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4,430,774 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">193.46 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3.6</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,770.2 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Exercisable as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3,243,872 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">142.88 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2.2</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,460.1 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unvested as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,186,902 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">331.72 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">7.2</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">310.1 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The weighted average fair value of a stock option granted during each of the three-month periods ended March 31, 2026 and March 31, 2025 was $190.42 and $110.11, respectively. These stock options have an aggregate grant date fair value of $55.2 million and $39.0 million, respectively. The total grant date fair value of stock options that vested during the three-month periods ended March 31, 2026 and March 31, 2025 was $36.7 million and $1.2 million, respectively.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total share-based compensation expense related to stock options was recorded as follows (in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Cost of sales</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Research and development</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Selling, general, and administrative</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense before taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Related income tax benefit</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(0.2)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(0.2)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense, net of taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.3 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.3 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As of March 31, 2026, unrecognized compensation cost related to stock options was $97.0 million. Unvested outstanding stock options as of March 31, 2026 had a weighted average remaining vesting period of 2.3 years.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Stock option exercise data is summarized below (dollars in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Number of options exercised</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">495,147 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">131,474 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Cash received</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">68.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">16.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total intrinsic value of options exercised</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">182.9 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">29.1 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">RSUs</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Each RSU entitles the recipient to one share of our common stock upon vesting. We measure the fair value of RSUs using the stock price on the date of grant. Share-based compensation expense for RSUs is recorded ratably over their vesting period.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">During the three months ended March 31, 2026 and 2025, in addition to time-based RSUs, we granted 0.2 million performance-based RSUs in each period, with total grant date fair values of $88.7 million and $67.3 million, respectively, calculated based on the assumed achievement of the relevant financial and non-financial performance conditions. During the three months ended March 31, 2026 and 2025, we recorded $5.2 million and $8.3 million of share-based compensation expense, respectively, related to performance-based RSUs.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">A summary of the activity with respect to, and status of, RSUs during the three-month period ended March 31, 2026 is presented below:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.325%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.482%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Number of</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">RSUs</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Weighted</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Average</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Grant Date</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Fair Value</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unvested as of January 1, 2026</span></div></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,416,871 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">252.86 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Granted</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">295,640 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">520.38 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Vested</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(274,965)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">234.77 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Forfeited</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(16,515)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">248.71 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unvested as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,421,031 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">312.06 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total share-based compensation expense related to RSUs was recorded as follows (in millions):</span></div><div style="margin-bottom:9pt;margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Cost of sales</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1.0 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1.0 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Research and development</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">6.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Selling, general, and administrative</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">15.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">15.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense before taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">21.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">23.4 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Related income tax benefit</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(3.5)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(3.8)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense, net of taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">18.0 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">19.6 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As of March 31, 2026, unrecognized compensation cost related to the grant of RSUs was $273.4 million. Unvested outstanding RSUs as of March 31, 2026 had a weighted average remaining vesting period of 2.4 years. </span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">ESPP</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The ESPP provides eligible employees with the right to purchase shares of our common stock at a discount through elective accumulated payroll deductions at the end of each offering period. Eligible employees may contribute up to 15 percent of their base salary, subject to certain annual limitations as defined in the ESPP. The purchase price of the shares is equal to the lower of 85 percent of the closing price of our common stock on either the first or last trading day of a given offering period. In addition, the ESPP provides that no eligible employee may purchase more than 4,000 shares during any offering period. The ESPP expires in June 2032 and limits the aggregate number of shares that can be issued under the ESPP to 3.0 million.</span></div> 1 14770000 950000 1 99000 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following table reflects the components of share-based compensation expense recognized in our consolidated statements of operations (in millions):</span></div><div style="margin-bottom:9pt;margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.603%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.241%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Stock options</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.5 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.5 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">RSUs</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">21.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">23.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">STAP awards</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(0.8)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">ESPP</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total share-based compensation expense before tax</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">33.9 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">31.8 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 11500000 8500000 21500000 23400000 0 -800000 900000 700000 33900000 31800000 300000 300000 53900000 38000000.0 10500000 7700000 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The following weighted average assumptions were used in estimating the fair value of stock options granted to employees during the three months ended March 31, 2026 and 2025:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.338%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.796%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2026</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31, 2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Expected term of awards (in years)</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Expected volatility</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">32.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Risk-free interest rate</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Expected dividend yield</span></div></td><td colspan="2" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.0 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.0 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">%</span></div></td></tr></table></div> P5Y P5Y 0.325 0.322 0.039 0.041 0.000 0.000 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">A summary of the activity and status of stock options under the 2015 Plan during the three-month period ended March 31, 2026 is presented below:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.350%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.713%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Number of</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Options</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Weighted</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Average</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Exercise</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Price</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Weighted</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Average</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Remaining</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Contractual</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Term (in Years)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Aggregate</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Intrinsic</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Value (in millions)</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Outstanding as of January 1, 2026</span></div></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4,636,330 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">166.11 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Granted</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">289,956 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">536.12 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Exercised</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(495,147)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">138.00 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Forfeited</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(365)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.26 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Outstanding as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4,430,774 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">193.46 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3.6</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,770.2 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Exercisable as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3,243,872 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">142.88 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2.2</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,460.1 </span></div></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unvested as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,186,902 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">331.72 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">7.2</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">310.1 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 4636330 166.11 289956 536.12 495147 138.00 365 120.26 4430774 193.46 P3Y7M6D 1770200000 3243872 142.88 P2Y2M12D 1460100000 1186902 331.72 P7Y2M12D 310100000 190.42 110.11 55200000 39000000.0 36700000 1200000 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total share-based compensation expense related to stock options was recorded as follows (in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Cost of sales</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Research and development</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.1 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Selling, general, and administrative</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.4 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense before taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Related income tax benefit</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(0.2)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(0.2)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense, net of taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">11.3 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">8.3 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total share-based compensation expense related to RSUs was recorded as follows (in millions):</span></div><div style="margin-bottom:9pt;margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Cost of sales</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1.0 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1.0 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Research and development</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">6.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Selling, general, and administrative</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">15.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">15.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense before taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">21.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">23.4 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Related income tax benefit</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(3.5)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(3.8)</span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based compensation expense, net of taxes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">18.0 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">19.6 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div> 0 0 100000 100000 11400000 8400000 11500000 8500000 200000 200000 11300000 8300000 97000000.0 P2Y3M18D <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Stock option exercise data is summarized below (dollars in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended </span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">March 31,</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Number of options exercised</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">495,147 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">131,474 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Cash received</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">68.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">16.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total intrinsic value of options exercised</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">182.9 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:0 1pt"></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">29.1 </span></div></td><td style="border-bottom:1.5pt solid #000;border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div> 495147 131474 68300000 16600000 182900000 29100000 1 200000 200000 88700000 67300000 5200000 8300000 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">A summary of the activity with respect to, and status of, RSUs during the three-month period ended March 31, 2026 is presented below:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.325%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.482%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Number of</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">RSUs</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Weighted</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Average</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Grant Date</span></div><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Fair Value</span></div></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unvested as of January 1, 2026</span></div></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,416,871 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">252.86 </span></div></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Granted</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">295,640 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">520.38 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Vested</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(274,965)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">234.77 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Forfeited</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">(16,515)</span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">248.71 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unvested as of March 31, 2026</span></div></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1,421,031 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">312.06 </span></div></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td></tr></table></div> 1416871 252.86 295640 520.38 274965 234.77 16515 248.71 1421031 312.06 1000000.0 1000000.0 4900000 6700000 15600000 15700000 21500000 23400000 3500000 3800000 18000000.0 19600000 273400000 P2Y4M24D 0.15 0.85 4000 3000000.0 Stockholders’ Equity<div style="margin-bottom:6pt;margin-top:8pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Earnings Per Common Share</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Basic earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period, adjusted for the potential dilutive effect of our outstanding stock options, outstanding RSUs, and shares issuable under the ESPP, as if the RSUs were vested, the stock options were exercised, and the shares expected to be issued under the ESPP at the end of the current offering period were issued.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The components of basic and diluted earnings per common share comprised the following (in millions, except per share amounts):</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended <br/>March 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Numerator:</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net income</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">274.9 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">322.2 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Denominator:</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Weighted average outstanding shares — basic</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">43.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">44.9 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Effect of dilutive securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">:</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:21.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Stock options, RSUs, and ESPP</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Weighted average shares — diluted</span><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47.2 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48.6 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net income per common share:</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Basic</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.32 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.18 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Diluted</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.82 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.63 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Stock options and RSUs excluded from calculation</span><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">Calculated using the treasury stock method.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">The common shares underlying certain stock options and RSUs have been excluded from the computation of diluted earnings per share because their impact would be anti-dilutive.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">2026 Share Repurchase</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In March 2026, our Board of Directors approved a share repurchase program authorizing up to $2.0 billion in aggregate repurchases of our common stock (plus the amount of any customary contingent settlement obligations that may arise upon the expiration or early termination of an accelerated share repurchase contract), </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">which program expires on March 9, 2027</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">. Pursuant to this authorization, we entered into two accelerated share repurchase agreements (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2026 ASR agreements</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) with Citibank, N.A. (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Citi</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) on March 9, 2026 to repurchase approximately $1.5 billion of our common stock in the aggregate. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Under the terms of the 2026 ASR agreements, comprised of a $750 million uncollared share repurchase agreement (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2026</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Uncollared ASR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) and a $750 million collared share repurchase agreement (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2026</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Collared ASR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), we made an aggregate upfront payment of $1.5 billion to Citi on March 11, 2026. Under the 2026 Uncollared ASR, we received an initial delivery of 992,120 shares of our common stock, representing approximately 70 percent of the total shares expected to be repurchased under the 2026 Uncollared ASR, measured based on the closing price of our common stock on March 9, 2026. Under the 2026 Collared ASR, we received an initial delivery of 708,657 shares of our common stock, representing approximately 50 percent of the total shares expected to be repurchased under the 2026 Collared ASR, measured based on the closing price of our common stock on March 9, 2026. Upon completion of an agreed-upon hedging period and the subsequent determination of the minimum and maximum share amounts to be repurchased under the 2026 Collared ASR, we received an additional 463,682 shares of our common stock on March 30, 2026.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The final number of shares that we will ultimately repurchase pursuant to the 2026 ASR agreements will be determined based on the average of the daily volume-weighted average price per share of our common stock during the repurchase period, less a discount and subject to adjustments pursuant to the terms and conditions of the 2026 ASR agreements. As discussed above, under the 2026 Collared ASR, the final number of shares we will ultimately repurchase will also be subject to a collar provision establishing the minimum and maximum numbers of shares to be repurchased, as well as other adjustments.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">At the final settlement of the 2026 ASR agreements, we may be entitled to receive additional shares of our common stock, or, under certain limited circumstances, be required to make an additional cash payment to Citi or, if we so elect, deliver shares of our common stock to Citi. The scheduled termination date of the 2026 Uncollared ASR is in the second quarter of 2026. The scheduled termination date of the 2026 Collared ASR is in the third quarter of 2026.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The initial repurchase of our common stock under the 2026 ASR agreements, including the subsequent receipt of our common stock upon completion of the hedging period, were treated as a reduction of the outstanding shares used to calculate the weighted average common stock outstanding for basic and diluted earnings per common share. The initial repurchase of our common stock under the 2026 ASR agreements was accounted for as a reduction to stockholders’ equity in our consolidated balance sheets. The hedging period under the 2026 Collared ASR was classified as part of the unsettled forward contract at inception and was equity classified upon settlement on March 30, 2026. The final settlement of the transactions under the 2026 ASR agreements is accounted for as an unsettled forward contract indexed to our common stock until the final settlement occurs. The forward contract related to the 2026 ASR agreements was equity classified, in accordance with ASC 815, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Derivatives and Hedging</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, upon inception and we expect equity classification to remain appropriate through final settlement under the 2026 Uncollared ASR and the 2026 Collared ASR. During the three months ended March 31, 2026, we recorded a liability of $8.4 million for an excise tax imposed under the Inflation Reduction Act of 2022 (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">IRA</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) as a result of our repurchase of shares under the 2026 ASR agreements.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">2025 Share Repurchase</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In July 2025, our Board of Directors approved a share repurchase program authorizing up to $1.0 billion in aggregate repurchases of our common stock (plus the amount of any customary contingent settlement obligations that may arise upon the expiration or early termination of an accelerated share repurchase contract). Pursuant to this authorization, we entered into two accelerated share repurchase agreements (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2025 ASR agreements</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) with Citi on August 1, 2025 to repurchase approximately $1.0 billion of our common stock in the aggregate. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Under the terms of the 2025 ASR agreements, comprised of a $500 million uncollared share repurchase agreement (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2025</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Uncollared ASR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) and a $500 million collared share repurchase agreement (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">2025</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Collared ASR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), we made an aggregate upfront payment of $1.0 billion to Citi on August 4, 2025. Under the 2025 Uncollared ASR, we received an initial delivery of 1,274,296 shares of our common stock, representing approximately 75 percent of the total shares expected to be repurchased under the 2025 Uncollared ASR, measured based on the closing price of our common stock on August 1, 2025. Under the 2025 Collared ASR, we received an initial delivery of 849,531 shares of our common stock, representing approximately 50 percent of the total shares expected to be repurchased under the 2025 Collared ASR, measured based on the closing price of our common stock on August 1, 2025. Upon completion of an agreed-upon hedging period and the subsequent determination of the minimum and maximum share amounts to be repurchased under the 2025 Collared ASR, we received an additional 514,789 shares of our common stock on August 25, 2025. The final settlement of the 2025 Uncollared ASR occurred in November 2025, and we received an additional 3,882 shares of our common stock upon settlement. The final settlement of the 2025 Collared ASR occurred in January 2026, and we received no additional shares of our common stock upon settlement as a result of a collar provision that established the minimum and maximum number of shares to be repurchased, as well as other adjustments. In total, we repurchased 2,642,498 shares of our common stock under the 2025 ASR agreements that we currently hold as treasury stock in our consolidated balance sheets.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The final number of shares that we ultimately repurchased pursuant to the 2025 Uncollared ASR was based on the average of the daily volume-weighted average price per share of our common stock during the repurchase period, less a discount and subject to adjustments pursuant to the terms and conditions of the 2025 Uncollared ASR.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The initial repurchase of our common stock and final settlements under the 2025 ASR agreements, including the subsequent receipt of our common stock upon completion of the hedging period, were treated as a reduction of the outstanding shares used to calculate the weighted average common stock outstanding for basic and diluted earnings per common share. The initial repurchase of our common stock under the 2025 ASR agreements was accounted for as a reduction to stockholders’ equity in our consolidated balance sheets. The hedging period under the 2025 Collared ASR was classified as part of the unsettled forward contract at inception and was equity classified upon settlement on August 25, 2025. The final settlements of the 2025 ASR agreements were accounted for as unsettled forward contracts indexed to our common stock until the final settlement occurred. The forward contracts related to the 2025 ASR agreements were equity classified, in accordance with ASC 815, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">Derivatives and Hedging</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, through final settlement. Excise taxes imposed under the IRA as a result of our 2025 ASR agreements were $1.8 million.</span></div> <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The components of basic and diluted earnings per common share comprised the following (in millions, except per share amounts):</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.832%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.549%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended <br/>March 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Numerator:</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net income</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">274.9 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">322.2 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Denominator:</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Weighted average outstanding shares — basic</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">43.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">44.9 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Effect of dilutive securities</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">:</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:21.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Stock options, RSUs, and ESPP</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.7 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Weighted average shares — diluted</span><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47.2 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48.6 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net income per common share:</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Basic</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.32 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.18 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 11.8pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Diluted</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.82 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.63 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Stock options and RSUs excluded from calculation</span><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">0.1 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">Calculated using the treasury stock method.</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">The common shares underlying certain stock options and RSUs have been excluded from the computation of diluted earnings per share because their impact would be anti-dilutive.</span></div> 274900000 322200000 43500000 44900000 3700000 3700000 47200000 48600000 6.32 7.18 5.82 6.63 100000 100000 2000000000.0 2 1500000000 750000000 750000000 1500000000 992120 0.70 708657 0.50 463682 8400000 1000000000.0 2 1000000000.0 500000000 500000000 1000000000.0 1274296 0.75 849531 0.50 514789 3882 0 2642498 1800000 Income Taxes<div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:112%">Our effective income tax rate (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:112%">ETR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:112%">) for the three months ended March 31, 2026 and 2025 was 14 percent and 24 percent, respectively. Our ETR for the three months ended March 31, 2026 decreased compared to our ETR for the three months ended March 31, 2025 primarily due to increased excess tax benefits from share-based compensation. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">On July 4, 2025, the One Big Beautiful Bill Act (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">OBBBA</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) was enacted in the United States. The OBBBA includes provisions that allow both the immediate deduction of domestic research and experimental expenditures and the full expensing of the cost of certain qualifying assets in the year placed in service. The impacts of the OBBBA were reflected in our consolidated financial statements beginning in the period of enactment and continue to be reflected in the period ended March 31, 2026, resulting in decreases to both our deferred tax assets and cash tax liabilities. The OBBBA provisions did not have a material impact on our ETR for the period ended March 31, 2026.</span></div>We record interest and penalties related to uncertain tax positions as a component of income tax expense. As of March 31, 2026 and December 31, 2025, our unrecognized tax benefits, including related interest, were approximately $30.6 million and $28.7 million, respectively. 0.14 0.24 30600000 28700000 Segment Information<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Our Chief Executive Officer, as our Chief Operating Decision Maker (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">CODM</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), manages our company as a single operating and reporting segment at the consolidated level. Our operating segment focuses on the development and commercialization of products to address the unmet needs of patients with chronic and life-threatening conditions. The accounting policies of our one operating segment are the same as those described in Note 2</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">—Summary of Significant Accounting Policies </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">to our consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 25, 2026.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Our CODM is regularly provided with revenue and expense forecasts, including product development plans, to manage the operations of our operating segment. Our CODM monitors forecasted to actual results for net income when assessing performance and allocating resources across the operating segment. Significant segment expenses are presented as </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">operating expenses </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">in our consolidated statements of operations.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The measure of the operating segment assets is reported in our consolidated balance sheets as </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">total assets</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total revenues, cost of sales, and gross profit (loss) for each of our commercial products and other sources of revenues were as follows (in millions):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.949%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.622%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.622%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.776%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.776%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.622%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.628%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="48" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended March 31, </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Tyvaso DPI</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Nebulized Tyvaso</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:4.87pt;font-weight:700;line-height:100%;position:relative;top:-2.62pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Orenitram</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Unituxin</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Adcirca</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Other</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total revenues</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">330.3 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">127.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">126.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">135.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">53.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.9 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.3 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">781.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cost of sales</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">83.2 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">133.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Gross profit (loss)</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">247.1 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">118.6 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">110.5 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">128.2 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48.6 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.9 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6.8)</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">648.1 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total revenues</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">302.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">163.8 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">138.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">120.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">58.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">794.4 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cost of sales</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.8 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8.3 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.2 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">92.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Gross profit (loss)</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">254.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">155.3 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">124.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">112.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">53.0 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1.0)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">701.9 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">During the three months ended March 31, 2026 and 2025, we recorded $44.9 million and $9.0 million of inventory reserve expense, respectively. Tyvaso DPI inventory reserve expense accounts for $39.2 million and $5.8 million of the total inventory reserve expense recorded during the three months ended March 31, 2026 and 2025, respectively. The Tyvaso DPI inventory reserve expense increased in 2026 mainly because we recorded an estimated $26.8 million loss related to a commercial supply agreement. This agreement is intended to provide us with sufficient inventory to meet the needs of our patients.</span></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">Total revenues and cost of sales include sales of infusion devices, including the Remunity</span><span style="color:#000000;font-family:'null',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> and RemunityPRO</span><span style="color:#000000;font-family:'null',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Pumps.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Geographic revenues are determined based on the country to which our products are shipped. Total revenues from external customers in the United States and rest-of-world (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">ROW</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) for each of our commercial products were as follows (in millions):</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.161%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">U.S.</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">ROW</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Total</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">U.S.</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">ROW</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Total</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Net product sales:</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Tyvaso DPI</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">330.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">330.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">302.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">302.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Nebulized Tyvaso</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">112.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">14.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">127.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">138.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">25.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">163.8 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total Tyvaso</span></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">442.9 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">14.6 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">457.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">441.1 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">25.2 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">466.3 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">108.8 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">17.8 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">126.6 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.2 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">18.0 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">138.2 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Orenitram</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">135.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">135.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unituxin</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">49.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">53.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">56.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">58.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Adcirca</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">6.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">6.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total revenues</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">744.2 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">37.3 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">781.5 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:0 1pt"></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">749.6 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">44.8 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">794.4 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:13.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Net product sales include sales of infusion devices, including the Remunity and RemunityPRO Pumps.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We recorded revenue from two distributors in the United States that exceeded ten percent of total revenues. Revenue from these two distributors as a percentage of total revenues is as follows:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.511%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended March 31, </span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Distributor 1</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Distributor 2</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">35 </span></td><td style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="2" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">34 </span></td><td style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td></tr></table></div> 1 <div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total revenues, cost of sales, and gross profit (loss) for each of our commercial products and other sources of revenues were as follows (in millions):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.949%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.622%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.622%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.776%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.776%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.622%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.628%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="48" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended March 31, </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Tyvaso DPI</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Nebulized Tyvaso</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:4.87pt;font-weight:700;line-height:100%;position:relative;top:-2.62pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Orenitram</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Unituxin</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Adcirca</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Other</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total revenues</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">330.3 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">127.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">126.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">135.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">53.6 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.9 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.3 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">781.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cost of sales</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">83.2 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">133.4 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Gross profit (loss)</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">247.1 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">118.6 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">110.5 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">128.2 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48.6 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1.9 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6.8)</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">648.1 </span></td><td style="background-color:#e6e7e8;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total revenues</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">302.5 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">163.8 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">138.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">120.7 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">58.2 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.0 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">794.4 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cost of sales</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48.1 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.8 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8.3 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5.2 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2.6 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6.0 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #939598;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">92.5 </span></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Gross profit (loss)</span></div></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">254.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">155.3 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">124.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">112.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">53.0 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3.4 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1.0)</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">701.9 </span></td><td style="background-color:#e6e7e8;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">During the three months ended March 31, 2026 and 2025, we recorded $44.9 million and $9.0 million of inventory reserve expense, respectively. Tyvaso DPI inventory reserve expense accounts for $39.2 million and $5.8 million of the total inventory reserve expense recorded during the three months ended March 31, 2026 and 2025, respectively. The Tyvaso DPI inventory reserve expense increased in 2026 mainly because we recorded an estimated $26.8 million loss related to a commercial supply agreement. This agreement is intended to provide us with sufficient inventory to meet the needs of our patients.</span></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.97pt">Total revenues and cost of sales include sales of infusion devices, including the Remunity</span><span style="color:#000000;font-family:'null',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> and RemunityPRO</span><span style="color:#000000;font-family:'null',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Pumps.</span></div> 330300000 127200000 126600000 135600000 53600000 2900000 5300000 781500000 83200000 8600000 16100000 7400000 5000000.0 1000000.0 12100000 133400000 247100000 118600000 110500000 128200000 48600000 1900000 -6800000 648100000 302500000 163800000 138200000 120700000 58200000 6000000.0 5000000.0 794400000 48100000 8500000 13800000 8300000 5200000 2600000 6000000.0 92500000 254400000 155300000 124400000 112400000 53000000.0 3400000 -1000000.0 701900000 44900000 9000000.0 39200000 5800000 26800000 Total revenues from external customers in the United States and rest-of-world (<span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">ROW</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) for each of our commercial products were as follows (in millions):</span><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.161%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">2025</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">U.S.</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">ROW</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Total</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">U.S.</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">ROW</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:120%">Total</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Net product sales:</span></div></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Tyvaso DPI</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">330.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">330.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">302.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="border-top:1pt solid #939598;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">302.5 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Nebulized Tyvaso</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">112.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">14.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">127.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">138.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">25.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">163.8 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total Tyvaso</span></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">442.9 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">14.6 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">457.5 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">441.1 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">25.2 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">466.3 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">108.8 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">17.8 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">126.6 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="border-top:1.5pt solid #6d6d6d;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.2 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">18.0 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1.5pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">138.2 </span></div></td><td style="border-top:1.5pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Orenitram</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">135.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">135.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">120.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Unituxin</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">49.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">53.6 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">56.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">1.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">58.2 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:3.6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Adcirca</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">2.9 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">6.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">— </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">6.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #939598;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">4.7 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">0.3 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #939598;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">5.0 </span></div></td><td style="border-top:1pt solid #939598;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;padding-left:10.8pt"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Total revenues</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">744.2 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">37.3 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">781.5 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:0 1pt"></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">749.6 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">44.8 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">$</span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"><span style="color:#000000;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">794.4 </span></div></td><td style="background-color:#dbdbdb;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:1pt;margin-top:1pt;text-align:right"></div></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:13.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Net product sales include sales of infusion devices, including the Remunity and RemunityPRO Pumps.</span></div> 330300000 0 330300000 302500000 0 302500000 112600000 14600000 127200000 138600000 25200000 163800000 442900000 14600000 457500000 441100000 25200000 466300000 108800000 17800000 126600000 120200000 18000000.0 138200000 135600000 0 135600000 120700000 0 120700000 49000000.0 4600000 53600000 56900000 1300000 58200000 2900000 0 2900000 6000000.0 0 6000000.0 5000000.0 300000 5300000 4700000 300000 5000000.0 744200000 37300000 781500000 749600000 44800000 794400000 Revenue from these two distributors as a percentage of total revenues is as follows:<div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.511%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended March 31, </span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Distributor 1</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">52 </span></td><td style="border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Distributor 2</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">35 </span></td><td style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="2" style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">34 </span></td><td style="border-bottom:1.5pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">%</span></td></tr></table></div> 0.52 0.52 0.35 0.34 Litigation <div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Sandoz Litigation </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In April 2019, Sandoz Inc. (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Sandoz</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) and its marketing partner RareGen, LLC (now known as Liquidia PAH, LLC, a subsidiary of Liquidia Corporation) (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">RareGen</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), filed a complaint in the U.S. District Court for the District of New Jersey against us and Smiths Medical ASD, Inc. (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Smiths Medical</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), alleging that we and Smiths Medical engaged in anticompetitive conduct in connection with the plaintiffs’ efforts to launch their generic version of Remodulin. In particular, the complaint alleged that we and Smiths Medical unlawfully impeded competition by entering into an agreement for Smiths Medical to produce cartridges used with the CADD-MS</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">3 (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">MS-3</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) infusion system specifically for the delivery of subcutaneous Remodulin for our patients, without making these cartridges available for the delivery of Sandoz’s generic treprostinil injection. In March 2020, the plaintiffs filed an amended complaint to add a count alleging that we breached our earlier patent settlement agreement with Sandoz by refusing to grant Sandoz access to cartridges purchased for our patients.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Smiths Medical was dismissed from the case in November 2020, based on a settlement resolving the disputes between the plaintiffs and Smiths Medical. As part of this settlement, Smiths Medical paid the plaintiffs $4.25 million, disclosed and made available to the plaintiffs certain specifications and other information related to the MS-3 cartridges, and granted to the plaintiffs a non-exclusive, royalty-free license in the United States to Smiths Medical’s patents and copyrights associated with the MS-3 cartridges and certain other information related to the MS-3 pumps and cartridges.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In March 2022, the court granted our motion for summary judgment with respect to all claims brought by the plaintiffs except the breach of contract claim. As a result, all antitrust claims, all claims under state competition laws, and the common law tortious interference claim were resolved in our favor. These were the only claims in the case that gave rise to any potential for trebling of damages, punitive damages, disgorgement, and/or the award of attorneys’ fees. The court also denied the plaintiffs’ request for injunctive relief.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The court granted Sandoz’s motion for summary judgment with respect to Sandoz’s breach of contract claim. The issue of what, if any, damages Sandoz is entitled to based on the court’s decision on the contract claim went to trial. On November 1, 2024, the court entered a final judgment in favor of Sandoz, ordering us to pay to Sandoz (a) approximately $61.6 million in damages; (b) prejudgment interest in the amount of approximately $9.0 million; and (c) post-judgment interest. All parties appealed the final judgment, including the court’s March 30, 2022 summary judgment decision. The appeal is pending before the U.S. Court of Appeals for the Third Circuit, and oral argument was held in November 2025.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We accrued a liability of $71.1 million during 2024, an additional $3.0 million during 2025, and an additional $0.8 million through the first quarter of 2026, reflecting, in the aggregate, the damages and pre-judgment interest amounts awarded in the final judgment, as well as post-judgment interest accrued through March 31, 2026. We currently do not expect that the amount of any loss in excess of these accruals would be material to our financial results; however, the amount ultimately payable, if any, could be higher or lower than this amount depending on the amount of post-judgment interest, and the outcome of appeals. We recorded this liability within </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">other non-current liabilities </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">in our consolidated balance sheets.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We intend to continue to vigorously defend ourselves against the claims made in this litigation. Among other things, we believe our settlement agreement with Sandoz did not provide Sandoz any rights with respect to delivery systems such as the MS-3. We also believe that the plaintiffs, who were on notice that Smiths Medical would discontinue the MS-3 system, failed to fulfill their duty to properly mitigate their exposure as a result of such discontinuation, and any damages they incurred are the result of market conditions and their own failure to properly plan their own product launch. However, due to the uncertainty inherent in any litigation, we cannot guarantee that appeals will not result in an outcome adverse to us. This litigation has involved, and will likely continue to involve, substantial costs to defend, and an adverse appellate outcome could result in substantial monetary damages in excess of the liability we have accrued to-date.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Litigation with Liquidia Technologies, Inc.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Since March 2020, we have been engaged in litigation with Liquidia Technologies, Inc. (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Liquidia</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) regarding its efforts to obtain FDA approval for Yutrepia</span><span style="color:#000000;font-family:'null',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, a dry powder inhalation formulation of treprostinil. That litigation has included two petitions for </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">inter partes</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> review (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">IPR</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) filed by Liquidia with the Patent Trial and Appeal Board (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">PTAB</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) of the U.S. Patent and Trademark Office (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">USPTO</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), as well as multiple lawsuits we have brought alleging infringement by Liquidia of several of our patents. Most of these cases have now been finally resolved, and Liquidia received final approval from the FDA to market Yutrepia to treat pulmonary arterial hypertension (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">PAH</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) and pulmonary hypertension associated with interstitial lung disease (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">PH-ILD</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) in May 2025 and launched commercial sales in June 2025.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We have an ongoing patent infringement lawsuit against Liquidia, which was originally filed on September 5, 2023 in the U.S. District Court for the District of Delaware, alleging infringement of U.S. Patent No. 10,716,793 (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">’793 patent</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), a patent related to Tyvaso with an expiration date in May 2027 that was later invalidated as a result of an IPR proceeding, and therefore is no longer at issue in this litigation. On November 30, 2023, we filed an amended complaint to assert a new patent: U.S. Patent No. 11,826,327 (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">’327 patent</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), which expires February 3, 2042, and is the only patent remaining at issue in the case. The claims of the ’327 patent generally cover improving exercise capacity in patients suffering from PH-ILD by inhaling treprostinil at specific dosages. Trial took place in June 2025, and the parties are awaiting the court’s decision. If we prevail in this lawsuit, we believe that we will be entitled to a court order requiring Liquidia to remove the PH-ILD indication from Yutrepia’s product labeling, and that we may also be entitled to damages.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In June 2021, we filed a motion in one of our earlier patent cases against Liquidia in the U.S. District Court for the District of Delaware to file an amended complaint adding trade secret misappropriation claims against Liquidia and a former Liquidia executive, Dr. Robert Roscigno. The court denied the motion based on a finding that adding the additional claims would impact the case schedule. Thus, we filed those claims as a separate case against Liquidia and Dr. Roscigno in North Carolina state court. Discovery is complete. On January 5, 2024, Dr. Roscigno filed a motion for summary judgment, which was denied on July 31, 2024. On July 3, 2024, Liquidia filed a motion for summary judgment, which was denied on July 23, 2025. The court has scheduled trial to commence in January 2027.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We filed a new complaint on May 29, 2024, to commence a separate, related case against Liquidia and Dr. Roscigno in North Carolina state court. That case is in its early stages, and the parties are currently engaged in discovery.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">On April 21, 2025, Liquidia filed a lawsuit against us in the U.S. District Court for the Middle District of North Carolina, alleging that Tyvaso DPI infringes U.S. Patent No. 10,898,494 (the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">‘494 patent</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">). This patent’s claims are directed to the treatment of pulmonary hypertension by administering specified amounts of treprostinil via a dry powder inhaler in a specified number of breaths. The patent expires May 5, 2037. Liquidia seeks damages and attorneys’ fees. We filed a motion to dismiss or, alternatively, a motion to stay the case based on the argument that we co-own the asserted patent based on Liquidia’s and Dr. Roscigno’s alleged trade secret misappropriation subject to the pending North Carolina state court litigation. The court granted our motion to stay and denied the motion to dismiss. On May 9, 2025, we filed a lawsuit against Liquidia in the U.S. District Court for the Middle District of North Carolina, alleging that Yutrepia infringes U.S. Patent No. 11,357,782. This patent claims a method of treating pulmonary hypertension using inhaled treprostinil delivered using a specified dosage regimen. The patent expires May 14, 2027. We moved for a preliminary injunction, but the court denied that motion. Liquidia moved to dismiss or, alternatively, transfer the case to the U.S. District Court for the District of Delaware. The court denied Liquidia’s motion.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We plan to continue to vigorously enforce our intellectual property rights related to Tyvaso DPI and Nebulized Tyvaso. In addition, we believe we have meritorious defenses and intend to vigorously defend ourselves against the claims made by Liquidia in its patent infringement lawsuit against us.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">MSP Recovery Litigation</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In July 2020, MSP Recovery Claims, Series LLC; MSPA Claims 1, LLC; and Series PMPI, a designated series of MAO-MSO Recovery II, LLC, filed a class action complaint against Caring Voices Coalition, Inc. (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">CVC</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) and us in the U.S. District Court for the District of Massachusetts. The complaint alleged that we violated the federal Racketeer Influenced and Corrupt Organizations (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">RICO</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) Act and various state laws by coordinating with CVC when making donations to a PAH fund so that those donations would go toward copayment obligations for Medicare patients taking drugs manufactured and marketed by us. The plaintiffs claim to have received assignments from various Medicare Advantage health plans and other insurance entities that allow them to bring this lawsuit on behalf of those entities to recover allegedly inflated amounts they paid for our drugs. In April 2021, the court granted our motion to transfer the case to the U.S. District Court for the Southern District of Florida.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">In October 2021, the plaintiffs filed an amended complaint that includes state antitrust claims based on alleged facts similar to those raised by Sandoz and RareGen in the matter described above. The amended complaint added MSP Recovery Claims Series 44, LLC as a plaintiff and Smiths Medical and CVC as defendants. In December 2021, we filed a motion to dismiss all of the plaintiffs’ claims in the amended complaint, including the new antitrust claims. Smiths Medical also filed a motion to dismiss the plaintiffs’ claims against Smiths Medical. In September 2022, the court dismissed all of the plaintiffs’ claims against us and Smiths Medical without prejudice.</span></div><div><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:112%">In October 2022, the plaintiffs filed a second amended complaint, which added federal antitrust claims and consumer protection claims under other states’ laws to the claims previously asserted. The second amended complaint also named Accredo Health Group, CVS Health Corporation, Express Scripts, Inc., and Express Scripts Holding Company (collectively, the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:112%">Specialty Pharmacies</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:112%">), and the Adira Foundation as additional defendants. In March 2023, we filed our motion to dismiss the second amended complaint. The Specialty Pharmacies filed their own motion to dismiss, as did Smiths Medical. On March 22, 2024, the magistrate judge recommended dismissal of the plaintiffs’ complaint against all defendants in its entirety with prejudice, and for administrative purposes, issued an order dismissing the complaint. On April 12, 2024, the plaintiffs filed an objection to the magistrate judge’s recommendation. On May 10, 2024, we filed a response to the plaintiffs’ objection, as did the other defendants. If the district court judge adopts the magistrate judge’s recommendation and dismisses the case, the plaintiffs will have the right to appeal.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We intend to continue to vigorously defend ourselves against the claims made in this lawsuit.</span></div><div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Litigation with Humana and United Healthcare</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">Humana Inc. (</span><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Humana</span><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) and United Healthcare Services, Inc. (</span><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">United</span><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) filed separate lawsuits against us in the U.S. District Court for the District of Maryland in December 2022 and November 2022, respectively. Each of these lawsuits includes allegations similar to those in the </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">MSP Recovery</span><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> matter discussed above concer</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">ning our charitable </span><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">contributions</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> to CVC. In particular, these lawsuits allege that our donations to CVC violated RICO and various state laws. We filed motions to dismiss both of these lawsuits in March 2023. On March 25, 2024, the court dismissed both the Humana and United complaints in their entirety. In both cases, the RICO claims were dismissed with prejudice. In the Humana case, the state law claims were dismissed without prejudice, and in the United case, some of the state law claims were dismissed with prejudice, while others were dismissed without prejudice. Neither Humana nor United filed an appeal to date, and their deadlines for filing appeals have passed.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">On April 24, 2024, Humana and United each filed lawsuits against us in the Circuit Court for Montgomery County, Maryland. These lawsuits include allegations similar to those in their lawsuits discussed above concerning charitable contributions. Humana and United allege that our donations to CVC give rise to common law causes of action, violations of state consumer protection statutes, and violations of insurance fraud statutes under the laws of various states. On July 22, 2024, we filed motions to dismiss both of these lawsuits. Oral argument on these motions to dismiss took place on October 24, 2024. On September 23, 2025, the court dismissed both lawsuits with prejudice. On October 20, 2025, Humana and United each appealed the court’s decision to the Appellate Court of Maryland, and those appeals are currently pending.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="background-color:#ffffff;color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We intend to continue to vigorously defend ourselves against the claims made in these lawsuits.</span></div> 4250000 61600000 9000000.0 71100000 3000000.0 800000 2 false false false false