v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 382.9 $ 399.1
Reconciliation of net income to net cash provided by (used in) operating activities:    
Depreciation 37.4 36.1
Amortization 60.5 60.6
Stock-based compensation 17.9 19.5
Deferred taxes (0.5) (2.4)
Other operating activities, net 19.8 22.1
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (363.7) (291.3)
Inventories (47.4) (18.5)
Accounts payable 177.9 71.8
Other assets and liabilities (87.7) (8.1)
Net cash provided by (used in) operating activities 197.1 288.9
Investing activities:    
Acquisitions, net of cash acquired 0.0 (108.1)
Capital expenditures (70.0) (57.8)
Other investing activities, net 0.3 0.0
Net cash provided by (used in) investing activities (69.7) (165.9)
Financing activities:    
Repurchases of common stock (500.0) (700.0)
Dividends paid (90.1) (88.3)
Proceeds from exercise of stock options 42.6 8.8
Withholding tax paid related to stock-based compensation (11.6) (13.3)
Other financing activities, net (14.7) (16.1)
Net cash provided by (used in) financing activities (573.8) (808.9)
Effect of foreign currency exchange rate changes on cash and cash equivalents (0.4) 0.8
Change in cash and cash equivalents (446.8) (685.1)
Cash and cash equivalents at beginning of period 1,112.1 753.5
Cash and cash equivalents at end of period $ 665.3 $ 68.4