XML 16 R5.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 143.3 $ 192.3
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 17.7 16.6
Amortization 30.1 22.3
Stock-based compensation 10.7 12.0
Deferred taxes (0.5) (0.1)
Other operating activities 8.6 9.3
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (116.3) (87.2)
Inventories (54.6) (52.8)
Other current assets 7.5 11.3
Accounts payable 50.3 78.4
Other current liabilities (86.8) (41.1)
Other long-term liabilities (8.2) 2.5
Net cash provided by operating activities 1.8 163.5
Investing activities:    
Acquisitions, net of cash acquired (49.9) 0.0
Capital expenditures (29.0) (32.5)
Other investing activities 0.0 0.5
Net cash used in investing activities (78.9) (32.0)
Financing activities:    
Repurchases of common stock (400.0) (150.0)
Dividends paid (45.2) (41.5)
Proceeds from exercise of stock options 2.7 42.5
Withholding tax paid related to stock-based compensation (12.9) (16.2)
Other financing activities (1.0) (0.9)
Net cash used in financing activities (456.4) (166.1)
Effect of foreign currency exchange rate changes on cash and cash equivalents 0.2 (0.7)
Change in cash and cash equivalents (533.3) (35.3)
Less: change in cash and cash equivalents of discontinued operations 0.0 (11.2)
Cash and cash equivalents at beginning of period 753.5 576.7
Cash and cash equivalents at end of period $ 220.2 $ 552.6