XML 27 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 174.1 $ 138.4
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 69.9 46.7
Share-based compensation 87.1 85.3
Loss on extinguishment of debt 0.8 5.9
Non-cash interest expense 66.7 52.0
Deferred income taxes 0.2 0.0
Other non-cash income and expenses 30.5 5.5
Changes in operating assets and liabilities:    
Accounts receivable, net (90.6) (83.8)
Inventory (106.2) (80.9)
Prepaid and other assets (18.2) (11.8)
Operating lease right-of-use assets and liabilities, net (0.1) (1.3)
Accounts payable and accrued liabilities 115.3 126.6
Accrued payroll and related expenses 0.5 4.3
Deferred revenue and other liabilities 6.7 16.7
Net cash provided by operating activities 336.7 303.6
Investing activities    
Purchases of marketable securities (1,540.2) (2,143.1)
Proceeds from sale and maturity of marketable securities 2,165.3 1,298.5
Purchases of property and equipment (309.0) (138.8)
Acquisitions, net of cash acquired (31.6) 0.0
Other investing activities (4.5) (10.6)
Net cash provided by (used in) investing activities 280.0 (994.0)
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 20.3 15.3
Other financing activities (9.1) (4.5)
Net cash provided by financing activities 11.2 917.0
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.9) 0.8
Increase in cash, cash equivalents and restricted cash 627.0 227.4
Cash, cash equivalents and restricted cash, beginning of period 818.2 446.4
Cash, cash equivalents and restricted cash, end of period 1,445.2 673.8
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 1,444.3 673.5
Restricted cash 0.9 0.3
Total cash, cash equivalents and restricted cash 1,445.2 673.8
Supplemental disclosure of non-cash investing and financing transactions:    
Shares issued for repurchase and conversions of senior convertible notes 94.5 1,350.9
Shares received under note hedge upon conversions of 2023 Notes (65.1) 0.0
Acquisition of property and equipment included in accounts payable and accrued liabilities 30.2 27.8
Right-of-use assets obtained in exchange for operating lease liabilities 12.2 34.8
Right-of-use assets obtained in exchange for finance lease liabilities $ 6.3 $ 33.4