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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,211.7 $ 1,069.1
Trade accounts receivable, less allowance for credit losses of $22.5 and $26.6, respectively 429.6 363.0
Inventories, net 288.1 241.0
Prepaid expenses and other current assets 97.2 115.2
Total current assets 2,026.6 1,788.3
Property, plant and equipment, net 296.8 277.0
Operating lease right-of-use assets 142.1 142.8
Other long-term assets 228.1 230.6
Goodwill, net 2,358.2 2,261.9
Other intangible assets, net 627.2 649.9
Total assets 5,679.0 5,350.5
Current liabilities:    
Short-term debt 0.0 116.0
Trade accounts payable 191.6 174.6
Accrued expenses and other liabilities 622.0 553.6
Operating lease liabilities 39.0 34.5
Total current liabilities 852.6 878.7
Operating lease liabilities 110.4 118.9
Other long-term liabilities 161.4 139.8
Long-term debt 1,448.3 1,278.3
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued or outstanding at December 31, 2025 and December 31, 2024 0.0 0.0
Common stock, $0.01 par value, 500.0 million shares authorized; 175.4 million shares issued and 163.8 million shares outstanding at December 31, 2025; 174.2 million shares issued and 172.2 million shares outstanding at December 31, 2024 1.8 1.7
Treasury stock at cost; 11.6 million shares and 2.0 million shares at December 31, 2025 and December 31, 2024, respectively (224.5) (50.5)
Additional paid-in capital 3,882.6 3,842.1
Accumulated deficit (440.4) (487.4)
Accumulated other comprehensive loss (113.2) (371.1)
Total stockholders’ equity 3,106.3 2,934.8
Total liabilities and stockholders’ equity $ 5,679.0 $ 5,350.5