v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 107,059 $ 134,102
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 37,162 24,182
Non-cash operating lease expense 6,576 5,843
Stock-based compensation 32,316 33,396
Amortization of prepaid debt fees 3,791 3,581
Deferred taxes, net (18,684) (9,664)
Loss on sale of business 0 79
Restructuring, non-cash 462 (25)
Other adjustments, net (3,538) (354)
Changes in operating assets and liabilities, net of acquisition and sale of business:    
Accounts receivable 23,280 18,789
Inventories (17,956) (7,413)
Other current assets (5,295) 6,409
Other long-term assets 3,117 3,479
Accounts payable, other current liabilities, and taxes payable (9,259) (31,868)
Wages and benefits payable (28,092) (34,884)
Unearned revenue 50,859 46,431
Warranty (243) (1,876)
Restructuring (6,921) (10,252)
Other operating, net (1,042) (11,153)
Net cash provided by operating activities 173,592 168,802
Investing activities    
Acquisitions of property, plant, and equipment (13,132) (10,656)
Business acquisitions, net of cash and cash equivalents acquired (515,055) 0
Other investing, net 3,088 5
Net cash used in investing activities (525,099) (10,651)
Financing activities    
Proceeds from borrowings 805,000 0
Repayments of Long-Term Debt (460,000) 0
Issuance of common stock 1,969 5,436
Payments on call spread for convertible offering (92,817) 0
Repurchase of common stock (152,234) 0
Prepaid debt fees (21,525) (178)
Other financing, net (514) (507)
Net cash provided by financing activities 79,879 4,751
Effect of foreign exchange rate changes on cash and cash equivalents (3,540) 10,118
Increase (decrease) in cash and cash equivalents (275,168) 173,020
Cash and cash equivalents at beginning of period 1,020,397 1,051,237
Cash and cash equivalents at end of period 745,229 1,224,257
Supplemental disclosure of cash flow information:    
Income taxes, net 45,164 45,869
Interest 6,264 6,944
Deferred tax effect of call spread offering $ 22,444 $ 0