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BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION
Balance Sheet Details
The following tables provide details of selected Condensed Consolidated Balance Sheet line items (in millions):
 As of
Accounts receivable, netMarch 31,
2025
December 31,
2024
Trade accounts receivable, net$1,090.5 $1,117.2 
Unbilled accounts receivable and other155.0 138.7 
Sales returns and allowances(24.0)(30.5)
Total accounts receivable, net$1,221.5 $1,225.4 
As of
InventoryMarch 31,
2025
December 31,
2024
Raw materials$549.7 $563.9 
Work-in-process230.2 205.7 
Finished goods773.7 717.6 
Total inventory$1,553.6 $1,487.2 
As of
Prepaids and other current assetsMarch 31,
2025
December 31,
2024
Net investment in sales-type leases – short-term$127.9 $131.4 
Other prepaids and other current assets243.5 253.7 
Total prepaids and other current assets$371.4 $385.1 
As of
Other accrued liabilities – short-termMarch 31,
2025
December 31,
2024
Income and other taxes payable$58.0 $154.4 
Accrued construction-related capital expenditures78.2 57.2 
Other accrued liabilities319.7 335.9 
Total other accrued liabilities – short-term$455.9 $547.5 
As of
Other long-term liabilitiesMarch 31,
2025
December 31,
2024
Income taxes – long-term$231.8 $239.0 
Deferred revenue – long-term63.6 54.1 
Other long-term liabilities179.2 175.2 
Total other long-term liabilities$474.6 $468.3 
Supplemental Cash Flow Information
The following table provides supplemental non-cash investing and financing activities (in millions):
Three Months Ended March 31,
20252024
Equipment transfers, including operating lease assets, from inventory to property, plant, and equipment$165.2 $110.7 
Acquisition of property, plant, and equipment in accounts payable and accrued liabilities$97.8 $177.9 
Restricted Cash
Amounts included in restricted cash primarily relate to the Company’s insurance programs and certain employee-related benefits. The following table provides details of total cash, cash equivalents, and restricted cash as of the periods presented (in millions):
As of
March 31,
2025
December 31,
2024
Cash and cash equivalents
$2,573.8 $2,027.4 
Restricted cash within other current assets
28.4 20.0 
Restricted cash within other assets
15.0 15.0 
Total cash, cash equivalents, and restricted cash
$2,617.2 $2,062.4