v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 178,330 $ 200,325
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 55,602 36,221
Non-cash operating lease expense 9,889 8,856
Stock-based compensation 44,527 47,819
Amortization of prepaid debt fees 5,765 5,401
Deferred taxes, net (5,062) 48,860
Loss on sale of business 0 79
Restructuring, non-cash 462 (25)
Other adjustments, net (3,248) (531)
Changes in operating assets and liabilities, net of acquisition and sale of business:    
Accounts receivable (6,664) (12,127)
Inventories (40,344) 19,828
Other current assets 5,705 (40,295)
Other long-term assets 161 6,918
Accounts payable, other current liabilities, and taxes payable 27,932 (5,959)
Wages and benefits payable (20,534) (30,801)
Unearned revenue 32,960 34,320
Warranty (1,141) (2,404)
Restructuring (8,345) (16,445)
Other operating, net (450) (13,409)
Net cash provided by operating activities 275,545 286,631
Investing activities    
Net proceeds related to the sale of business 0 278
Acquisitions of property, plant, and equipment (19,540) (15,077)
Business acquisitions, net of cash and cash equivalents acquired (514,888) 0
Other investing, net 3,098 (1,995)
Net cash used in investing activities (531,330) (16,794)
Financing activities    
Proceeds from borrowings 805,000 0
Repayments of Long-Term Debt (460,000) 0
Issuance of common stock 2,788 6,332
Payments on call spread for convertible offering (92,817) 0
Repurchase of common stock (152,234) 0
Prepaid debt fees (21,600) (2,207)
Other financing, net (2,006) (2,288)
Net cash provided by financing activities 79,131 1,837
Effect of foreign exchange rate changes on cash and cash equivalents (3,420) 9,033
Increase (decrease) in cash and cash equivalents (180,074) 280,707
Cash and cash equivalents at beginning of period 1,020,397 1,051,237
Cash and cash equivalents at end of period 840,323 1,331,944
Supplemental disclosure of cash flow information:    
Income taxes, net 54,692 48,783
Interest 12,166 12,787
Deferred tax effect of call spread offering $ 22,444 $ 0