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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 495.1 $ 151.5
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 48.0 46.3
Amortization 79.2 60.8
Lease expense 14.2 13.5
Stock-based compensation 15.8 8.7
Deferred taxes 0.4 0.7
Other operating activities, net 3.0 9.5
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (372.2) (190.7)
Inventories (184.4) (40.6)
Contract assets (6.5) 13.7
Prepaid expenses and other assets 33.4 16.3
Accounts payable 121.2 118.3
Accrued and other current liabilities (7.3) (20.9)
Contract liabilities 10.4 6.8
Other long-term liabilities (26.8) (22.4)
Net cash provided by operating activities 223.5 171.5
Investing activities:    
Proceeds from sale of discontinued operation, net of cash disposed 132.0 0.0
Capital expenditures (82.7) (55.1)
Acquisitions, net of cash acquired (24.7) 0.0
Investment in securities 10.3  
Investment in securities   (10.2)
Other investing activities, net 2.0 1.8
Net cash provided by (used in) investing activities 36.9 (63.5)
Financing activities:    
Repurchases of common stock (175.0) (265.6)
Dividends paid (56.7) (56.0)
Proceeds from exercise of stock options 16.0 45.6
Withholding tax paid related to stock-based compensation (12.5) (7.7)
Other financing activities, net (1.7) (0.8)
Net cash used in financing activities (229.9) (284.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents (1.7) (0.3)
Change in cash and cash equivalents 28.8 (176.8)
Less: change in cash and cash equivalents of discontinued operations 0.0 7.0
Cash and cash equivalents at beginning of period 324.4 897.1
Cash and cash equivalents at end of period $ 353.2 $ 713.3