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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 482.5 $ 504.6 $ 595.6
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Gain on sale of businesses – net 0.0 (4.0) (84.7)
Asset Impairments 0.7 0.1 0.8
Credit loss on note receivable from collaborative partner 0.0 0.0 7.7
Depreciation 75.8 68.5 57.2
Amortization of intangible assets 130.7 107.1 94.9
Share-based compensation expense 27.3 25.8 21.8
Deferred income taxes 12.8 (19.4) (14.7)
Changes in (net of the effect from acquisitions/divestitures and foreign currency translation):      
Receivables – net (41.2) (16.9) 20.5
Inventories – net (34.2) 17.6 66.2
Other current assets 1.6 (0.1) (6.5)
Trade accounts payable 15.2 8.9 (25.3)
Deferred revenue 2.7 (17.9) 12.7
Accrued expenses 1.8 (8.6) (34.8)
Other – net 4.7 2.4 5.3
Net cash flows provided by operating activities 680.4 668.1 716.7
Cash flows from investing activities      
Capital expenditures (63.6) (65.1) (89.9)
Acquisition of businesses, net of cash acquired (76.2) (984.5) (311.8)
Proceeds from sale of businesses, net of cash remitted 0.0 45.1 118.6
Purchase of marketable securities 0.0 0.0 (29.0)
Proceeds from sale of marketable securities 0.0 4.5 24.8
Other – net 2.2 (6.5) 3.5
Net cash flows used in investing activities (137.6) (1,006.5) (283.8)
Cash flows from financing activities      
Borrowings under revolving credit facilities 252.0 279.3 0.0
Payments under revolving credit facilities (322.9) (69.1) 0.0
Proceeds from issuance of long-term borrowings 0.0 496.7 100.0
Payment of long-term borrowings (100.0) (50.0) (250.0)
Cash dividends paid to shareholders (212.6) (205.3) (190.7)
(Payments) proceeds from share issuances, net of shares withheld for taxes (0.5) 16.7 21.5
Repurchases of common stock (247.8) 0.0 (24.2)
Other – net (0.8) (2.4) (1.3)
Net cash flows (used in) provided by financing activities (632.6) 465.9 (344.7)
Effect of exchange rate changes on cash and cash equivalents 36.8 (22.9) 15.9
Net (decrease) increase in cash and cash equivalents and restricted cash (53.0) 104.6 104.1
Cash and cash equivalents and restricted cash at beginning of year [1] 638.9 534.3 430.2
Cash and cash equivalents and restricted cash at end of year [1] 585.9 638.9 534.3
Cash paid for:      
Interest 72.2 47.4 50.8
Income taxes - net $ 134.6 $ 171.4 $ 199.5
[1] Includes $5.9 million and $18.1 million of restricted cash at December 31, 2025 and December 31, 2024. respectively. At December 31, 2025, $3.0 million of the restricted cash has been included in Other current assets and $2.9 million has been included in Other noncurrent assets in the Consolidated Balance Sheets. At December 31, 2024, $18.1 million was included in Other current assets in the Consolidated Balance Sheets. There was no restricted cash as of December 31, 2023 or December 31, 2022.