v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Statement of Cash Flows [Abstract]    
Net Income (loss) $ 113.5 $ 77.0
(Income) loss from discontinued operations, net of taxes 0.0 (1.0)
Adjustments to reconcile net income to net cash flows from operating activities    
Depreciation and amortization 107.7 82.5
Deferred income taxes 9.6 (13.2)
Equity appreciation rights 25.4 22.0
Non-cash interest expense 8.2 7.9
Purchase accounting inventory adjustment 0.0 7.0
(Gain) loss on extinguishment of debt 27.7 0.0
Other (gains) losses, net (0.4) (3.5)
Other 0.7 0.1
Changes to assets and liabilities, net of acquisitions and divestitures    
Accounts receivable (128.6) (23.3)
Inventories (53.2) (23.1)
Accounts payable and accrued expenses 35.3 13.8
Customer deposits and deferred revenue 11.2 21.9
Other assets and liabilities, net (0.7) (7.7)
Net cash flows provided by operating activities - continuing operations 156.4 160.4
Net cash flow provided by (used in) operating activities - discontinued operations 0.0 (0.3)
Net cash flows provided by (used in) operating activities 156.4 160.1
Purchase of property, plant and equipment (16.5) (10.5)
Proceeds from disposal of property, plant and equipment 0.1 2.5
Purchase of available-for-sale marketable securities 0.0 (39.3)
Capitalized software development costs (0.6) 0.0
Proceeds from the sale of available-for-sale marketable securities 0.0 119.8
Issuance of related party loan 0.0 (95.0)
Acquisitions of businesses, net of cash acquired 0.0 (2,290.1)
Net cash flows provided by (used in) investing activities - continuing operations (17.0) (2,312.6)
Net cash flows provided by (used in) investing activities - discontinued operations 0.0 7.0
Net cash flows provided by (used in) investing activities (17.0) (2,305.6)
Proceeds from the issuance of common stock 2,667.6 0.0
Payment of underwriting fees and offering costs (92.4) 0.0
Contributions 0.0 157.5
Debt principal payments (2,632.7) (6.8)
Proceeds from issuance of debt 0.0 1,732.5
Proceeds from related party loan 0.0 95.0
Distributions to Holdings 31.0 (13.9)
Distributions to and redemptions of noncontrolling interests 0.0 (0.2)
Contributions from noncontrolling interests 0.0 5.5
Payments of financing fees (4.9) (9.6)
Taxes paid related to net share settlement of equity awards (53.7) 0.0
Payments on financing leases (1.2) (1.1)
Net cash flows provided by (used in) financing activities (86.3) 1,958.9
Effects of exchange rate changes on cash 0.3 0.1
Net change in cash and cash equivalents 53.4 (186.5)
Cash and cash equivalents at the beginning of the period 208.4 339.9
Cash and cash equivalents at the end of period 261.8 153.4
Supplemental cash flow disclosures:    
Cash paid for interest 180.7 87.2
Supplemental disclosures of non-cash operating, investing, and financing activities:    
Exchange of noncontrolling interests for Class A common stock 2,208.4 0.0
Tax attribution to Holdings from reorganization transaction (Note 9) 41.1 0.0
Acquisition of Research Products - rollover equity (Note 5) $ 0.0 $ 217.3