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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 283.7 $ 328.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 18.7 20.1
Amortization 74.0 72.4
Other non-cash items, net 50.4 35.6
Decrease in cash, excluding the effects of acquisitions and divestitures, resulting from changes in:    
Other assets (72.9) (52.7)
Accounts payable and accrued liabilities (75.3) (52.0)
Income taxes payable (208.8) (86.4)
Other liabilities (9.6) (1.0)
Net cash provided by operating activities 60.2 264.0
Cash flows from investing activities    
Payments for capitalized contract costs (5.2) (32.9)
Payments for internal use software (43.2) (46.0)
Purchases of property and equipment (16.1) (11.2)
Other investing activities (21.0) 2.2
Net cash used in investing activities (68.4) (65.1)
Cash flows from financing activities    
Cash dividends and dividend equivalents paid (Note 9) (162.3) (178.7)
Common stock repurchased (Note 9) (180.8) (6.0)
Net proceeds from commercial paper 129.9 494.6
Principal payments on borrowings   (300.0)
Proceeds from exercise of options   0.3
Net change in settlement obligations (78.5) (619.8)
Other financing activities (0.9) 0.1
Net cash used in financing activities (292.6) (609.5)
Net change in cash and cash equivalents, including settlement, and restricted cash (300.8) (410.6)
Cash and cash equivalents, including settlement, and restricted cash at beginning of period 1,786.2 2,040.7
Cash and cash equivalents, including settlement, and restricted cash at end of period 1,485.4 1,630.1
Reconciliation of balance sheet cash and cash equivalents to cash flows:    
Cash and cash equivalents on balance sheet 1,033.0 1,585.9
Settlement cash and cash equivalents (Note 8) 434.7 11.1
Restricted cash in Other assets 17.7 33.1
Cash and cash equivalents, including settlement, and restricted cash 1,485.4 1,630.1
Supplemental cash flow information:    
Interest paid 55.6 50.9
Income taxes paid 262.7 162.3
Settlement Investments    
Cash flows from investing activities    
Purchases of investments (251.6) (198.3)
Proceeds from the sale of investments 171.8 66.8
Maturities of settlement investments $ 96.9 54.3
Non Settlement Investment    
Cash flows from investing activities    
Proceeds from the sale of investments   $ 100.0