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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 418.3 $ 206.3 $ 4.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 80.8 72.8 63.2
Stock-based compensation expense 69.3 48.3 40.9
Deferred income taxes (136.9) 0.5 (1.0)
Non-cash interest expense 7.3 6.7 5.8
Provision for credit losses (0.2) 2.3 4.2
Unrealized loss (gain) on investments 3.8 (2.6) 0.0
Other 4.9 2.0 3.8
Changes in operating assets and liabilities:      
Inventories (32.4) (53.6) (49.1)
Prepaid expenses and other assets (21.9) (42.1) (36.8)
Accounts payable 2.2 (11.0) (2.4)
Net cash provided by operating activities 430.3 145.7 119.0
Cash flows from investing activities      
Capital expenditures (124.9) (75.6) (122.9)
Investments in developed software (9.1) (8.5) (12.9)
Cash paid for investments (12.2) (7.2) (7.8)
Acquisition of other intangible assets 0.0 (25.1) (21.5)
Acquisition of a business 0.0 (3.0) (26.0)
Net cash used in investing activities (146.2) (119.4) (191.1)
Cash flows from financing activities      
Proceeds from issuance of term loan, net of issuance costs 130.0 0.0 0.0
Repayment of term loan (137.2) (5.0) (5.0)
Repayment of equipment financings (19.0) (19.8) (17.4)
Financing lease payments (22.7) 0.0 (15.3)
Repayment of mortgage (2.4) (2.2) (2.1)
Proceeds from secured borrowing (Note 6) 45.5 0.0 0.0
Repayment of secured borrowing (Note 6) (34.8) 0.0 0.0
Proceeds from exercise of stock options 8.2 16.3 6.9
Proceeds from issuance of common stock under employee stock purchase plan 11.9 10.6 9.4
Payment of withholding taxes in connection with vesting of restricted stock units (7.6) (13.2) (16.8)
Other 0.0 (0.3) 0.0
Net cash used in financing activities (28.1) (13.6) (40.3)
Effect of exchange rate changes on cash (6.8) 1.8 (4.3)
Net increase (decrease) in cash, cash equivalents, and restricted cash 249.2 14.5 (116.7)
Cash, cash equivalents, and restricted cash, beginning of year 704.2 689.7 806.4
Cash, cash equivalents, and restricted cash, end of year 953.4 704.2 689.7
Nonrelated Party      
Changes in operating assets and liabilities:      
Accounts receivable (16.9) (99.4) (12.9)
Accrued expenses and other liabilities 53.4 73.8 133.9
Related Party      
Changes in operating assets and liabilities:      
Accounts receivable 6.5 (54.8) (38.9)
Accrued expenses and other liabilities $ (7.9) $ (3.5) $ 3.7