v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 607.9 $ 631.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46.8 40.9
Share-based compensation expense 77.3 69.6
Impairment of property, plant, and equipment 0.0 21.7
Net unrealized losses on equity securities 48.2 9.3
Deferred income taxes 51.6 0.0
Other 56.8 4.7
Changes in operating assets and liabilities:    
Accounts receivable 39.9 (100.0)
Inventories (57.8) (18.6)
Accounts payable and accrued expenses (16.7) 43.5
Other assets and liabilities (77.1) (49.9)
Net cash provided by operating activities 776.9 652.9
Cash flows from investing activities:    
Purchases of property, plant, and equipment (208.8) (137.1)
Deposits (6.4) (9.8)
Purchases of available-for-sale debt securities (770.8) (2,499.2)
Maturities of available-for-sale debt securities 534.3 915.9
Sales of available-for-sale debt securities 1,307.9 1,265.6
Purchase of investment in privately held company (25.0) 0.0
Net cash provided by (used in) investing activities 831.2 (464.6)
Cash flows from financing activities:    
Payments to repurchase common stock (1,500.0) 0.0
Proceeds from line of credit 0.0 200.0
Repayment of line of credit 0.0 (500.0)
Excise tax paid on net share repurchase 0.0 (5.0)
Payments of debt issuance costs (3.4) (11.5)
Proceeds from the exercise of stock options 194.6 34.7
Proceeds from the issuance of stock under ESPP 5.6 4.9
RSUs withheld for taxes (58.8) (15.5)
Net cash used in financing activities (1,362.0) (292.4)
Net increase (decrease) in cash and cash equivalents 246.1 (104.1)
Cash and cash equivalents, beginning of period 1,557.1 1,697.2
Cash and cash equivalents, end of period 1,803.2 1,593.1
Supplemental cash flow information:    
Cash paid for interest 3.8 9.6
Cash paid for income taxes 102.5 253.9
Non-cash investing and financing activities:    
Non-cash additions to property, plant, and equipment 104.1 66.2
Excise tax on net share repurchase $ 5.4 $ 0.0