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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income $ 924.0 $ 421.7 $ 320.1
Reconciliation of net income to cash flows provided by operating activities:      
Depreciation 96.7 92.1 97.4
Amortization 154.6 134.1 126.8
Lease expense 27.9 27.1 28.1
Stock-based compensation 31.2 19.4 29.9
Loss on extinguishment of debt 0.0 0.0 8.8
Deferred taxes (33.3) (5.4) (27.0)
Other operating activities, net 39.2 22.7 21.9
Changes in assets and liabilities, excluding effects of acquisitions:      
Receivables (25.9) (206.9) 78.9
Inventories (165.2) (136.8) 16.4
Contract assets (18.9) 13.1 13.3
Prepaid expenses and other assets 21.6 (34.6) (6.6)
Accounts payable (60.5) 85.4 (15.2)
Accrued and other current liabilities 20.0 4.6 (5.3)
Contract liabilities 27.4 13.1 20.5
Other long-term liabilities (37.9) (27.9) (11.3)
Net cash provided by operating activities 1,000.9 421.7 696.7
Investing activities:      
Acquisitions, net of cash acquired (24.7) (1,571.3) (35.4)
Proceed from sale of discontinued operation, net of cash disposed 132.0 247.7 0.0
Capital expenditures (183.5) (134.8) (95.5)
Investment in securities 10.3    
Investment in securities   (30.2) 0.0
Other investing activities, net 4.8 2.2 8.3
Net cash used in investing activities (61.1) (1,486.4) (122.6)
Financing activities:      
Proceeds from notes 0.0 842.6 740.7
Repayments of notes (350.0) 0.0 (258.5)
Borrowings from revolving credit facility 0.0 650.0 500.0
Repayments of revolving credit facility 0.0 (650.0) (500.0)
Financing costs 0.0 (1.7) (24.2)
Repurchases of common stock (400.0) (315.6) (382.4)
Dividends paid (134.4) (112.5) (112.4)
Proceeds from exercise of stock options 40.4 85.9 21.3
Withholding tax paid related to stock-based compensation (14.7) (8.5) (8.3)
Other financing activities, net (3.3) (2.1) (0.9)
Net cash (used in) provided by financing activities (862.0) 488.1 (24.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents (2.2) (1.2) 1.6
Change in cash and cash equivalents 75.6 (577.8) 551.0
Less: change in cash and cash equivalents of discontinued operations 0.0 (5.1) (3.6)
Cash and cash equivalents      
Cash and cash equivalents at beginning of period 324.4 897.1 342.5
Cash and cash equivalents at end of period $ 400.0 $ 324.4 $ 897.1