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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 193.6 $ 52.2
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 24.0 23.7
Amortization 40.7 30.6
Lease expense 7.1 6.8
Stock-based compensation 9.6 14.9
Deferred taxes 1.2 (1.1)
Other operating activities, net 3.3 4.2
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (189.2) (72.9)
Inventories (122.0) (30.8)
Contract assets (1.5) 8.2
Prepaid expenses and other assets 17.4 20.6
Accounts payable 88.5 45.6
Accrued and other current liabilities (23.1) (24.7)
Contract liabilities 5.2 2.9
Other long-term liabilities (10.5) (12.6)
Net cash provided by operating activities 44.3 67.6
Investing activities:    
Proceeds from sale of discontinued operation, net of cash disposed 125.0 0.0
Acquisitions, net of cash acquired (24.7) 0.0
Capital expenditures (31.1) (20.0)
Investment in securities 10.3  
Investment in securities   (10.2)
Other investing activities, net 1.7 1.8
Net cash provided by (used in) investing activities 81.2 (28.4)
Financing activities:    
Repurchases of common stock (125.0) (150.0)
Dividends paid (28.7) (28.4)
Proceeds from exercise of stock options 7.7 13.5
Withholding tax paid related to stock-based compensation (12.0) (7.6)
Other financing activities, net (0.8) (0.3)
Net cash used in financing activities (158.8) (172.8)
Effect of foreign currency exchange rate changes on cash and cash equivalents 0.6 (1.4)
Change in cash and cash equivalents (32.7) (135.0)
Less: change in cash and cash equivalents of discontinued operations 0.0 1.1
Cash and cash equivalents at beginning of period 324.4 897.1
Cash and cash equivalents at end of period $ 291.7 $ 761.0