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Financial Statements Details
 3 Months Ended
Mar. 31, 2025
Balance Sheet Components [Abstract]  
Financial Statements Details Financial Statements Details
Inventories
    Inventories consist of the following (in millions):
March 31, 2025December 31, 2024
Raw materials $576.2 $565.4 
Finished goods(1)
1,381.1 1,269.2 
   Total inventories $1,957.3 $1,834.6 
(1) The balance includes evaluation inventory held at customers or partners totaling $435.8 million and $422.1 million as of March 31, 2025 and December 31, 2024, respectively.
Property and Equipment, net
    Property and equipment, net consists of the following (in millions):
March 31, 2025December 31, 2024
Land$47.3 $47.2 
Equipment and machinery 167.9 160.7 
Computer hardware and software 64.9 63.9 
Leasehold improvements
34.8 34.7 
Furniture and fixtures 3.5 3.5 
Construction-in-process 32.9 8.2 
    Property and equipment, gross 351.3 318.2 
Less: accumulated depreciation (227.4)(219.4)
    Property and equipment, net $123.9 $98.8 
    Depreciation expense was $8.0 million and $8.6 million for the three months ended March 31, 2025 and 2024, respectively.
Contract Liabilities, Deferred Revenue and Other Performance Obligations    
Contract Liabilities
    A contract liability is recognized when we have received customer payments in advance of our satisfaction of a performance obligation under a cancellable contract. The following table summarizes the activity related to our contract liabilities (in millions):
Three Months Ended March 31,
20252024
Contract liabilities, beginning balance$160.8 $133.2 
Less: Revenue recognized from beginning balance(12.9)(12.0)
Less: Beginning balance reclassified to deferred revenue(6.4)(6.5)
Add: Contract liabilities recognized19.0 24.9 
Contract liabilities, ending balance$160.5 $139.6 
    As of March 31, 2025 and December 31, 2024, $66.3 million and $65.7 million of our contract liabilities, respectively, were included in "Other current liabilities" with the remaining balances included in "Other long-term liabilities" on the condensed consolidated balance sheets.
Deferred Revenue
    Deferred revenue is comprised mainly of unearned revenue related to multi-year post-contract support ("PCS") contracts, services and product deferrals related to contracts with acceptance clauses. The following table summarizes the activity related to our deferred revenue (in millions):
Three Months Ended March 31,
20252024
Deferred revenue, beginning balance
$2,791.4 $1,506.2 
Less: Revenue recognized from beginning balance(418.3)(284.3)
Add: Deferral of revenue in current period, excluding amounts recognized during the period715.7 441.3 
Deferred revenue, ending balance$3,088.8 $1,663.2 
Other Performance Obligations
    Other performance obligations totaling $419.9 million as of March 31, 2025 include unbilled multi-year PCS and service contract amounts of $357.2 million and $62.7 million of binding contractual agreements with certain customers that are primarily related to future product shipments.
Revenue from Total Remaining Performance Obligations
    Total revenue from our contract liabilities, deferred revenue and other performance obligations that is expected to be recognized in future periods amounts to $3.7 billion as of March 31, 2025. Approximately 86% of this future revenue is expected to be recognized over the next two years and the remaining 14% is expected to be recognized during the third to the fifth year.
Other Income (Expense), net
    Other income (expense), net consists of the following (in millions):
Three Months Ended March 31,
20252024
Interest income$90.2 $63.8 
Other income (expense), net6.0 (1.2)
    Total$96.2 $62.6