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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 103.2 $ 66.2
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 44.4 28.3
Share-based compensation 59.6 54.6
Loss on extinguishment of debt 0.0 5.4
Non-cash interest expense 44.7 30.3
Deferred income taxes 0.1 0.0
Other non-cash income and expenses 16.0 3.5
Changes in operating assets and liabilities:    
Accounts receivable, net (54.9) (10.4)
Inventory (84.5) (45.5)
Prepaid and other assets (27.1) (26.6)
Operating lease right-of-use assets and liabilities, net 1.1 (1.2)
Accounts payable and accrued liabilities 0.0 56.8
Accrued payroll and related expenses (16.2) (20.8)
Deferred revenue and other liabilities 3.0 15.4
Net cash provided by operating activities 89.4 156.0
Investing activities    
Purchases of marketable securities (1,171.9) (1,740.0)
Proceeds from sale and maturity of marketable securities 1,628.3 849.5
Purchases of property and equipment (200.9) (91.4)
Other investing activities (4.5) (2.8)
Net cash provided by (used in) investing activities 251.0 (984.7)
Financing activities    
Proceeds from issuance of convertible notes, net of issuance costs 0.0 1,188.8
Repurchase of convertible notes 0.0 (282.6)
Net proceeds from issuance of common stock 8.7 6.7
Other financing activities (8.3) (0.4)
Net cash provided by financing activities 0.4 912.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.1 (0.2)
Increase in cash, cash equivalents and restricted cash 340.9 83.6
Cash, cash equivalents and restricted cash, beginning of period 818.2 446.4
Cash, cash equivalents and restricted cash, end of period 1,159.1 530.0
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 1,158.8 530.0
Restricted cash 0.3 0.0
Total cash, cash equivalents and restricted cash 1,159.1 530.0
Supplemental disclosure of non-cash investing and financing transactions:    
Common stock issued for repurchase and conversions of senior convertible notes 0.0 1,190.0
Acquisition of property and equipment included in accounts payable and accrued liabilities 43.2 17.0
Right-of-use assets obtained in exchange for operating lease liabilities 10.4 5.3
Right-of-use assets obtained in exchange for finance lease liabilities $ 4.6 $ 0.0