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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 101.7 $ 193.6
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 23.3 24.0
Amortization 37.2 40.7
Lease expense 6.9 7.1
Stock-based compensation 11.4 9.6
Deferred taxes 1.5 1.2
Other operating activities, net 2.3 3.3
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables 100.2 (189.2)
Inventories (28.9) (122.0)
Contract assets 3.5 (1.5)
Prepaid expenses and other assets 20.2 17.4
Accounts payable (0.3) 88.5
Accrued and other current liabilities (126.1) (23.1)
Contract liabilities 3.2 5.2
Other long-term liabilities (6.5) (10.5)
Net cash provided by operating activities 149.6 44.3
Investing activities:    
Capital expenditures (40.2) (31.1)
Proceeds from sale of discontinued operation, net of cash disposed 0.0 125.0
Acquisitions, net of cash acquired 0.0 (24.7)
Investment in securities 0.5 10.3
Other investing activities, net 8.0 1.7
Net cash (used in) provided by investing activities (31.7) 81.2
Financing activities:    
Repurchases of common stock (50.0) (125.0)
Dividends paid (38.9) (28.7)
Proceeds from exercise of stock options 4.8 7.7
Withholding tax paid related to stock-based compensation (9.9) (12.0)
Other financing activities, net (0.8) (0.8)
Net cash used in financing activities (94.8) (158.8)
Effect of foreign currency exchange rate changes on cash and cash equivalents 0.8 0.6
Change in cash and cash equivalents 23.9 (32.7)
Cash and cash equivalents at beginning of period 400.0 324.4
Cash and cash equivalents at end of period $ 423.9 $ 291.7