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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 310.2 $ 471.0 $ 252.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation expense 279.4 209.3 222.6
Depreciation, amortization, and accretion 194.7 217.7 237.4
Deferred income taxes (262.1) (222.5) 71.7
Provision for inventory excess and obsolescence 109.8 36.9 4.9
Operating lease assets expense 40.7 40.3 44.9
Gain on divestiture 0.0 (45.8) 0.0
Loss (gain) on privately-held investments, net [1] 97.3 [2] (20.4) [3] (12.7) [2]
Loss from equity method investment 9.6 4.8 0.0
Loss on extinguishment of debt 0.0 0.0 60.6
Impairment of assets [3] 28.0 5.1 16.3
Loss (gain) on non-qualified deferred compensation plan and other [3] (4.8) 12.7 (4.7)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable, net 183.4 (232.0) (31.8)
Inventory [3] (484.4) (394.2) (60.4)
Prepaid expenses and other assets [3] 182.2 (299.0) (249.9)
Accounts payable (51.9) 67.4 0.2
Accrued compensation (13.2) (23.1) 70.3
Income taxes payable (99.6) 21.1 24.3
Other accrued liabilities (7.5) (3.3) (85.4)
Deferred revenue 361.0 251.6 128.7
Net cash provided by operating activities 872.8 97.6 689.7
Cash flows from investing activities:      
Purchases of property and equipment (159.4) (105.1) (100.0)
Proceeds from divestiture, net 0.0 89.1 0.0
Purchases of available-for-sale debt securities (155.0) (104.1) (649.8)
Proceeds from sales of available-for-sale debt securities 31.9 118.2 546.1
Proceeds from maturities and redemptions of available-for-sale debt securities 217.3 390.3 394.0
Purchases of equity securities (11.6) (16.5) (10.1)
Proceeds from sales of equity securities 15.7 47.7 25.6
Payments for business acquisitions, net of cash and cash equivalents acquired 0.0 0.0 (182.6)
Subsequent payments related to acquisitions in prior years (0.7) (14.6) (10.1)
Funding of loan receivable and other (5.8) 2.5 0.7
Net cash provided by (used in) investing activities (67.6) 407.5 13.8
Cash flows from financing activities:      
Repurchase and retirement of common stock (397.6) (315.2) (443.5)
Proceeds from issuance of common stock 61.9 57.2 56.4
Payment of dividends (280.8) (270.4) (259.1)
Payment of debt 0.0 0.0 (423.8)
Payment of debt extinguishment costs 0.0 0.0 (58.3)
Payment of debt issuance costs and other (2.3) 0.0 (3.4)
Net cash used in financing activities (618.8) (528.4) (1,131.7)
Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash 0.2 (21.7) (12.1)
Net increase (decrease) in cash, cash equivalents, and restricted cash 186.6 (45.0) (440.3)
Cash, cash equivalents, and restricted cash at beginning of period 897.7 942.7 1,383.0
Cash, cash equivalents, and restricted cash at end of period 1,084.3 897.7 942.7
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of amounts capitalized 81.5 67.3 62.6
Cash paid for income taxes, net 400.9 253.2 113.2
Non-cash investing activity:      
Equity method investment $ 0.0 $ 40.3 $ 0.0
[1] Privately-held investments represent investments in privately-held debt, redeemable preferred stock securities, and equity investments without readily determinable fair value. Refer to Note 2, Cash Equivalents and Investments.
[2] The prior period amounts have been reclassified to conform to the current period presentation.
[3] The prior period amounts have been reclassified to conform to the current period presentation.