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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 $ 341.3 $ 249.7 $ 154.5
Adjustments to reconcile net income to net cash from operating activities:      
Stock-based compensation expense 195.5 194.3 173.1
Charges associated with convertible senior notes 138.4 0.0 70.0
Depreciation 23.5 17.8 15.1
(Accretion) amortization of (discount) premium on investments, net (26.2) (18.3) 3.7
Amortization of intangible assets 3.6 3.5 0.5
Changes in fair values of equity investments 37.1 (28.4) (30.8)
Deferred income taxes (123.1) (56.7) 19.1
Other 24.5 (0.2) 1.6
Changes in operating assets and liabilities:      
Accounts receivable (39.8) (89.3) (162.2)
Inventory (19.1) 5.4 (2.6)
Accounts payable and accrued liabilities 29.0 64.3 114.6
Other assets and liabilities, net 10.7 47.8 (17.2)
Cash flows from operating activities 595.4 389.9 339.4
Cash flows from investing activities:      
Purchases of available-for-sale debt securities (1,056.1) (1,379.9) (621.2)
Sales and maturities of available-for-sale debt securities 967.5 972.4 511.0
Acquisition of business, net of cash acquired 0.0 0.0 (42.7)
Purchases of equity investments 0.0 (31.3) (7.7)
Capital expenditures (38.2) (28.3) (16.5)
Cash flows from investing activities (126.8) (467.1) (177.1)
Cash flows from financing activities:      
Issuances of common stock under benefit plans 122.1 65.3 44.7
Repurchases of common stock under accelerated buyback agreements (300.0) 0.0 0.0
Payments associated with convertible senior notes (308.8) 0.0 (279.0)
Cash flows from financing activities (486.7) 65.3 (234.3)
Effect of exchange rate changes on cash and cash equivalents 0.0 0.3 (1.3)
Change in cash and cash equivalents and restricted cash (18.1) (11.6) (73.3)
Cash, cash equivalents and restricted cash at beginning of period 259.1 270.7 344.0
Cash, cash equivalents and restricted cash at end of period 241.0 259.1 270.7
Supplemental Disclosure:      
Accrued capital expenditures 2.2 2.5 0.7
Right-of-use assets acquired through operating leases 271.6 200.8 0.0
Cash paid for interest 1.6 3.8 6.6
Cash paid for income taxes $ 217.5 $ 51.5 $ 14.4