v3.26.1
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 $ 40.1 $ 59.2
Reconciliation of net income to net cash used in operating activities:    
Depreciation and amortization 53.8 52.9
Impairment charges 0.0 6.5
Unrealized foreign exchange loss (gain) 6.3 (3.3)
Stock-based compensation 29.0 30.1
Lease amortization 44.7 43.4
Loss on debt extinguishment 2.0 0.0
Amortization of debt issuance costs 3.4 4.0
Earnings (loss) from equity method investments, net of distributions received 10.8 (5.8)
Change in deferred taxes (14.9) (31.5)
Provision for loss on receivables and other assets 9.2 2.6
Unrealized loss on investments, net 4.2 0.4
Other operating activities, net 27.8 (15.4)
Changes in assets and liabilities:    
Trade and other receivables 35.7 29.7
Income taxes payable, net of income taxes receivable 4.8 23.2
Short-term contract assets and Prepaid expenses and other current assets (78.8) (46.4)
Other non-current assets (84.6) (67.4)
Accounts payable and accrued expenses (70.4) 0.9
Accrued compensation (173.0) (176.9)
Other current and non-current liabilities (39.6) (58.6)
Net cash used in operating activities (189.5) (152.4)
Cash flows from investing activities    
Payment for property and equipment (20.7) (13.9)
Acquisition of business, net of cash acquired 0.0 (4.9)
Investments in equity securities (3.7) (8.0)
Return of beneficial interest in a securitization (320.0) (230.0)
Collection on beneficial interest in a securitization 400.0 280.0
Other investing activities, net 2.6 7.9
Net cash provided by investing activities 58.2 31.1
Cash flows from financing activities     
Shares repurchased for payment of employee taxes on stock awards (23.1) (10.4)
Payment of deferred and contingent consideration (1.3) (5.5)
Proceeds from borrowings 1,200.0 0.0
Repayment of borrowings (1,299.6) (50.0)
Debt issuance costs (10.0) 0.0
Payment of finance lease liabilities (10.7) (13.3)
Other financing activities, net 0.5 1.6
Net cash used in financing activities (144.2) (77.6)
Change in cash, cash equivalents and restricted cash (275.5) (198.9)
Cash, cash equivalents and restricted cash, beginning of the period 803.5 814.6
Effects of exchange rate fluctuations on cash, cash equivalents and restricted cash (9.3) 30.3
Cash, cash equivalents and restricted cash, end of the period $ 518.7 $ 646.0