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Equity Plans and Share Repurchase Program (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table summarizes the activity and related information for RSUs for the periods presented below (in millions, except per share amounts):

			Restricted Stock Units Outstanding
			Number of Shares						Weighted-Average Grant Date Fair Value per Share
Balance—December 31, 2024			8.4						$	64.70
Granted			2.3						108.63
Forfeited			(0.5)						73.71
Vested			(2.1)						59.07
Balance—June 30, 2025			8.1						$	78.72

Share-Based Payment Arrangement, Performance Shares, Activity

The following table summarizes the activity and related information for PSUs for the periods presented below (in millions, except per share amounts):

			Performance Stock Units Outstanding
			Number of Shares						Weighted-Average Grant Date Fair Value per Share
Balance—December 31, 2024			0.4						$	94.93
Granted			0.1						168.93
Forfeited			(0.1)						113.36
Vested			(0.2)						91.19
Balance—June 30, 2025			0.2						$	118.43

Schedule of Share-based Compensation, Shares Withheld for Taxes

The following summarizes the number and value of the shares withheld for employee taxes (in millions):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Shares withheld for taxes			0.2						0.3						0.7						0.9
Amount withheld for taxes			$	23.4					$	20.2					$	77.2					$	63.1

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the weighted-average assumptions relating to our employee stock options: 

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Expected term in years			4.5						4.5						4.5						4.5
Volatility			41.4		%				41.9		%				41.6		%				42.8		%
Risk-free interest rate			4.1		%				4.4		%				4.2		%				4.3		%
Dividend rate			—		%				—		%				—		%				—		%

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the stock option activity and related information for the periods presented below (in millions, except exercise prices and contractual life):

			Options Outstanding
			Number of Shares						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Life (Years)						Aggregate Intrinsic Value
Balance—December 31, 2024			8.7						$	37.81					3.1						$	493.8
Granted			0.6						108.90
Forfeited			(0.1)						71.07
Exercised			(1.5)						20.63
Balance—June 30, 2025			7.7						$	46.82
Options vested and expected to vest—June 30, 2025			7.7						$	46.82					3.3						$	458.5
Options exercisable—June 30, 2025			5.8						$	36.34					2.5						$	404.9

Schedule of Share-based Compensation, Stock Options, Activity, Additional Information

Additional information related to our stock options is summarized below (in millions, except per share amounts):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Weighted-average fair value per share granted			$	41.05					$	24.93					$	43.83					$	26.79
Intrinsic value of options exercised			$	28.9					$	18.1					$	131.2					$	69.9
Fair value of options vested			$	5.5					$	6.5					$	15.0					$	18.6

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, is included in costs and expenses (in millions):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Cost of product revenue			$	0.5					$	0.4					$	1.0					$	0.9
Cost of service revenue			7.0						6.5						13.5						12.7
Research and development			25.1						21.3						48.1						41.1
Sales and marketing			29.7						25.9						56.2						52.6
General and administrative			7.6						10.2						18.0						20.0
Total stock-based compensation expense			$	69.9					$	64.3					$	136.8					$	127.3

Schedule of Employee Service Share based Compensation Allocation of Recognized Period Costs by Award Type

The following table summarizes stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, by award type (in millions):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
RSUs			$	60.8					$	54.0					$	117.1					$	106.0
Stock options			6.8						7.1						13.4						14.4
PSUs			2.3						3.2						6.3						6.9
Total stock-based compensation expense			$	69.9					$	64.3					$	136.8					$	127.3

Income Tax Benefit from Stock Option Plans

Total income tax benefit associated with stock-based compensation that is recognized in the condensed consolidated statements of income is (in millions):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Income tax benefit associated with stock-based compensation			$	15.3					$	14.3					$	30.0					$	28.2

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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