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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 105.4 $ 146.4
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 60.0 52.5
Share-based compensation 34.2 39.0
Non-cash interest expense 1.9 1.9
Deferred income taxes (5.8) (41.8)
Other non-cash income and expenses (12.3) (7.8)
Changes in operating assets and liabilities:    
Accounts receivable, net (148.9) (5.8)
Inventory 6.2 (36.7)
Prepaid and other assets 16.5 11.4
Operating lease right-of-use assets and liabilities, net (0.9) (2.0)
Accounts payable and accrued liabilities 125.4 109.6
Accrued payroll and related expenses (0.6) (60.7)
Deferred revenue and other liabilities 2.7 3.2
Net cash provided by operating activities 183.8 209.2
Investing activities    
Purchases of marketable securities (462.5) (992.4)
Proceeds from sale and maturity of marketable securities 650.2 1,121.8
Purchases of property and equipment (87.0) (56.9)
Other investing activities (0.5) 2.3
Net cash provided by investing activities 100.2 74.8
Financing activities    
Net proceeds from issuance of common stock 14.2 13.4
Other financing activities (1.7) (8.7)
Net cash provided by financing activities 12.5 4.7
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2.3 (3.8)
Increase in cash, cash equivalents and restricted cash 298.8 284.9
Cash, cash equivalents and restricted cash, beginning of period 607.3 567.5
Cash, cash equivalents and restricted cash, end of period 906.1 852.4
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 904.9 851.2
Restricted cash 1.2 1.2
Total cash, cash equivalents and restricted cash 906.1 852.4
Supplemental disclosure of non-cash investing and financing transactions:    
Acquisition of property and equipment included in accounts payable and accrued liabilities 57.6 40.7
Right-of-use assets obtained in exchange for operating lease liabilities 0.0 1.1
Right-of-use assets obtained in exchange for finance lease liabilities $ 1.1 $ 7.4