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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 192.3 $ 101.7
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 16.6 23.3
Amortization 22.3 37.2
Lease expense 5.6 6.9
Stock-based compensation 12.0 11.4
Deferred taxes (0.1) 1.5
Other operating activities, net 3.7 2.3
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (87.2) 100.2
Inventories (52.8) (28.9)
Contract assets 9.2 3.5
Prepaid expenses and other assets 2.1 20.2
Accounts payable 78.4 (0.3)
Accrued and other current liabilities (40.7) (126.1)
Contract liabilities 4.5 3.2
Other long-term liabilities (2.4) (6.5)
Net cash provided by operating activities 163.5 149.6
Investing activities:    
Capital expenditures (32.5) (40.2)
Investment in securities 0.2 0.5
Other investing activities, net 0.3 8.0
Net cash used in investing activities (32.0) (31.7)
Financing activities:    
Repurchases of common stock (150.0) (50.0)
Dividends paid (41.5) (38.9)
Proceeds from exercise of stock options 42.5 4.8
Withholding tax paid related to stock-based compensation (16.2) (9.9)
Other financing activities, net (0.9) (0.8)
Net cash used in financing activities (166.1) (94.8)
Effect of foreign currency exchange rate changes on cash and cash equivalents (0.7) 0.8
Change in cash and cash equivalents (35.3) 23.9
Less: change in cash and cash equivalents of discontinued operations (11.2) 2.5
Cash and cash equivalents at beginning of period 576.7 364.7
Cash and cash equivalents at end of period $ 552.6 $ 386.1