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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows provided by operating activities:    
Net income $ 122.3 $ 69.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23.8 28.4
Amortization of debt issuance costs, original issue discount, and soft call premium 0.5 1.1
Stock-based compensation 10.0 8.5
Provision for excess and obsolete inventory 4.9 6.2
Provision for doubtful accounts (0.3) 0.2
Deferred income taxes 9.5 0.6
Asset impairment   1.2
Other 0.1 (0.1)
Changes in operating assets and liabilities:    
Trade accounts receivable (33.1) (42.5)
Inventories (24.1) (20.3)
Other current and non-current assets 6.3 10.1
Accounts payable 36.8 22.7
Accrued compensation (41.9) (19.3)
Income taxes payable 0.3 1.0
Other current and non-current liabilities 11.8 8.0
Net cash provided by operating activities 126.9 74.9
Cash flows (used in) provided by investing activities:    
Purchases of investments (185.7) (30.2)
Maturities of investments 95.3 49.5
Sales of investments 107.7 28.7
Purchases of property, plant and equipment (26.5) (10.0)
Net cash (used in) provided by investing activities (9.2) 38.0
Cash flows used in financing activities:    
Net proceeds from borrowings 0.5 12.1
Payments on short-term borrowings (5.4) (9.9)
Payments on long-term borrowings (2.2) (52.3)
Dividend payments (11.1) (11.0)
Net payments related to employee stock awards (5.3) (20.4)
Net cash used in financing activities (23.5) (81.5)
Effect of exchange rate changes on cash and cash equivalents (2.7) (4.0)
Increase in cash and cash equivalents 91.5 27.4
Cash and cash equivalents at beginning of period 608.3 414.6
Cash and cash equivalents at end of period $ 699.8 $ 442.0