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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 749.8 $ 293.6
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 72.7 67.9
Amortization 117.5 96.8
Lease expense 21.0 20.3
Stock-based compensation 21.4 14.0
Deferred taxes (0.8) (2.0)
Other operating activities, net 37.5 16.9
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (291.3) (268.7)
Inventories (223.4) (72.4)
Contract assets (12.3) 11.7
Prepaid expenses and other assets 32.0 (9.3)
Accounts payable 71.1 134.9
Accrued and other current liabilities 7.9 (4.4)
Contract liabilities 22.5 11.3
Other long-term liabilities (37.0) (26.7)
Net cash provided by operating activities 588.6 283.9
Investing activities:    
Proceeds from sale of discontinued operation, net of cash disposed 132.0 247.7
Capital expenditures (130.5) (88.9)
Acquisitions, net of cash acquired (24.7) (1,573.9)
Investment in securities 10.3  
Investment in securities   (10.2)
Other investing activities, net 2.2 2.1
Net cash used in investing activities (10.7) (1,423.2)
Financing activities:    
Proceeds from notes 0.0 842.6
Borrowings from revolving credit facility 0.0 650.0
Repayments of revolving credit facility 0.0 (650.0)
Financing costs 0.0 (1.7)
Repurchases of common stock (201.1) (290.6)
Dividends paid (95.6) (84.2)
Proceeds from exercise of stock options 39.3 77.4
Withholding tax paid related to stock-based compensation (13.3) (8.4)
Other financing activities, net (2.5) (1.2)
Net cash (used in) provided by financing activities (273.2) 533.9
Effect of foreign currency exchange rate changes on cash and cash equivalents (3.7) (1.2)
Change in cash and cash equivalents 301.0 (606.6)
Less: change in cash and cash equivalents of discontinued operations 0.0 (5.1)
Cash and cash equivalents at beginning of period 324.4 897.1
Cash and cash equivalents at end of period $ 625.4 $ 295.6