v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 887.9 $ 488.7
Adjustments to reconcile net income (loss) to net cash used for operating activities:    
Depreciation 66.9 46.4
Amortization 156.6 98.5
Deferred income taxes (26.1) 23.1
Amortization of debt discount and issuance costs 2.2 4.3
Stock-based compensation 30.8 24.5
Changes in operating working capital 678.8 (95.2)
Change in fair value of contingent consideration 62.0 0.0
Other 7.5 35.9
Net cash provided by (used for) operating activities 1,866.6 626.2
Cash flows from investing activities:    
Capital expenditures (285.9) (81.5)
Investments in capitalized software (2.6) (3.2)
Purchase of short-term investments (546.6) (98.1)
Proceeds from maturities of short-term investments 351.5 0.0
Investments in affiliates (19.0) 0.0
Acquisition of businesses, net of cash acquired (278.1) 0.0
Net cash provided by (used for) investing activities (780.7) (182.8)
Cash flows from financing activities:    
Proceeds from the issuance of long-term debt 2,100.0 0.0
Repayment of long-term debt (2,076.1) (10.5)
Dividend payment (47.8) (28.4)
Exercise of employee stock options 44.1 13.0
Employee taxes paid from shares withheld (23.2) (7.0)
Net cash provided by (used for) financing activities (3.0) (32.9)
Effect of exchange rate changes on cash and cash equivalents 2.9 13.3
Increase (decrease) in cash, cash equivalents and restricted cash 1,085.8 423.8
Beginning cash, cash equivalents and restricted cash 1,789.8 1,232.2
Ending cash, cash equivalents and restricted cash 2,875.6 1,656.0
Changes in operating working capital    
Accounts receivable (644.2) (380.8)
Inventories (1,048.0) (137.5)
Other current assets (145.3) (23.9)
Accounts payable 685.3 269.5
Deferred revenue 1,822.7 171.5
Accrued expenses and other liabilities 22.2 (43.3)
Income taxes (13.9) 49.3
Total changes in operating working capital $ 678.8 $ (95.2)