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 $ 5,803.1 $ 815.8
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 62.5 153.2
Equity-based compensation 16.1 16.6
Deferred income taxes 1,236.0 1.3
Gain on disposal of discontinued operations (7,009.3) (869.2)
Noncash write-off of unamortized DFF and OID 101.3 0.0
Changes in assets and liabilities:    
Accounts receivable (40.0) (238.5)
Inventories (116.0) (90.0)
Prepaid expenses and other assets (184.6) (76.1)
Accounts payable and other liabilities (183.0) 125.9
Other 14.5 51.2
Net cash used in operating activities (299.4) (109.8)
Investing Activities:    
Additions to property, plant and equipment (4.2) (28.1)
Proceeds from sale of property, plant and equipment 0.0 10.0
Net proceeds from divestitures 10,541.7 2,041.8
Net cash generated by investing activities 10,537.5 2,023.7
Financing Activities:    
Long-term debt repaid (7,370.8) (2,049.0)
Long-term debt proceeds 0.0 50.0
Debt issuance costs (2.6) (5.7)
Redemption of Series A convertible preferred stock (1,278.7) 0.0
Special distribution paid to common shareholders (2,316.3) 0.0
Dividends paid on Series A convertible preferred stock (1.7) 0.0
Proceeds from the issuance of common shares under equity-based compensation plans 1.8 0.0
Tax withholding payments for vested equity-based compensation awards (43.2) (10.9)
Net cash used in financing activities (11,011.5) (2,015.6)
Effect of exchange rate changes on cash and cash equivalents 2.2 9.5
Change in cash and cash equivalents (771.2) (92.2)
Cash and cash equivalents at beginning of period 922.8 663.3
Cash and cash equivalents at end of period $ 151.6 $ 571.1