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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 40.3 $ 19.9
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 20.9 13.0
Share-based compensation 28.0 23.9
Non-cash interest expense 22.2 12.7
Deferred income taxes (0.3) 0.0
Other non-cash income and expenses 8.0 0.1
Changes in operating assets and liabilities:    
Accounts receivable, net (14.9) (14.7)
Inventory (55.0) (22.2)
Prepaid and other assets (20.2) (7.6)
Operating lease right-of-use assets and liabilities, net 0.7 (0.4)
Accounts payable and accrued liabilities 30.0 5.3
Accrued payroll and related expenses (33.0) (29.1)
Deferred revenue and other liabilities 1.1 1.0
Net cash provided by operating activities 27.8 1.9
Investing activities    
Purchases of marketable securities (802.0) (365.8)
Proceeds from sale and maturity of marketable securities 790.0 530.0
Purchases of property and equipment (99.7) (33.2)
Other investing activities (0.5) (0.4)
Net cash provided by (used in) investing activities (112.2) 130.6
Financing activities    
Net proceeds from issuance of common stock 8.7 6.7
Other financing activities (7.9) (0.2)
Net cash provided by financing activities 0.8 6.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.4) (0.5)
Increase (decrease) in cash, cash equivalents and restricted cash (84.0) 138.5
Cash, cash equivalents and restricted cash, beginning of period 818.2 446.4
Cash, cash equivalents and restricted cash, end of period 734.2 584.9
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Total cash, cash equivalents and restricted cash 734.2 584.9
Supplemental disclosure of non-cash investing and financing transactions:    
Acquisition of property and equipment included in accounts payable and accrued liabilities 35.0 19.6
Right-of-use assets obtained in exchange for operating lease liabilities $ 9.9 $ 5.3