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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 488.7 $ 172.2
Adjustments to reconcile net income (loss) to net cash used for operating activities:    
Depreciation 46.4 39.9
Amortization 98.5 97.2
Deferred income taxes 23.1 (2.8)
Amortization of debt discount and issuance costs 4.3 4.1
Change in fair value of warrant liabilities 0.0 202.0
Stock-based compensation 24.5 17.7
Changes in operating working capital (95.2) (3.6)
Other 35.9 (7.7)
Net cash provided by (used for) operating activities 626.2 519.0
Cash flows from investing activities:    
Capital expenditures (81.5) (69.9)
Investments in capitalized software (3.2) (11.6)
Purchase of short-term investments (98.1) 0.0
Net cash provided by (used for) investing activities (182.8) (81.5)
Cash flows from financing activities:    
Borrowings from ABL revolving credit facility and short-term borrowings 0.0 270.0
Repayments of ABL revolving credit facility and short-term borrowings 0.0 (270.0)
Repayment of long-term debt (10.5) (10.6)
Dividend payment (28.4) (18.7)
Repurchase of common stock 0.0 (599.9)
Exercise of employee stock options 13.0 23.6
Employee taxes paid from shares withheld (7.0) (21.1)
Net cash provided by (used for) financing activities (32.9) (626.7)
Effect of exchange rate changes on cash and cash equivalents 13.3 (11.7)
Increase (decrease) in cash, cash equivalents and restricted cash 423.8 (200.9)
Beginning cash, cash equivalents and restricted cash 1,232.2 788.6
Ending cash, cash equivalents and restricted cash 1,656.0 587.7
Changes in operating working capital    
Accounts receivable (380.8) (115.1)
Inventories (137.5) (224.1)
Other current assets (23.9) (30.9)
Accounts payable 269.5 130.3
Deferred revenue 171.5 254.7
Accrued expenses and other liabilities (43.3) (8.4)
Income taxes 49.3 (10.1)
Total changes in operating working capital $ (95.2) $ (3.6)