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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Consolidated net income $ 253.0 $ 67.6
Adjustments to reconcile consolidated net income to net cash flows from operating activities:    
Depreciation and amortization 142.0 138.4
Deferred income taxes (21.0) (10.6)
Stock-based compensation expense 38.8 41.7
Provision for bad debt 6.3 3.6
Equity in investments of unconsolidated entities 5.3 4.7
Gain on equity method transaction 0.0 (49.6)
Gain on sale of business (45.3) 0.0
Other, net 2.8 (8.9)
Changes in operating assets and liabilities:    
Accounts receivable 8.2 5.3
Accounts payable and accrued liabilities 4.7 (5.8)
Accrued compensation and deferred commissions 16.1 (18.8)
Income taxes, current 25.2 (17.3)
Deferred revenue 18.5 27.8
Other assets and liabilities (16.4) 0.5
Cash provided by operating activities 438.2 178.6
Investing activities    
Purchases of investment securities (12.5) (8.9)
Proceeds from maturities and sales of investment securities 23.6 23.9
Capital expenditures (102.1) (89.1)
Proceeds from sale of business 52.2 0.0
Proceeds from sale of equity method investments, net 0.0 26.2
Purchases of investments in unconsolidated entities (6.8) (1.1)
Other, net 0.2 (0.1)
Cash used for investing activities (45.4) (49.1)
Financing activities    
Common shares repurchased 0.0 (1.4)
Dividends paid (52.0) (47.9)
Proceeds from revolving credit facility 90.0 260.0
Repayment of revolving credit facility (105.0) (290.0)
Repayment of term facility (93.1) (24.4)
Employee taxes withheld for stock awards (25.4) (25.9)
Payment of acquisition-related earn-outs 0.0 (45.5)
Other, net 0.2 0.1
Cash used for financing activities (185.3) (175.0)
Effect of exchange rate changes on cash and cash equivalents 7.5 (6.1)
Net increase (decrease) in cash and cash equivalents 215.0 (51.6)
Cash and cash equivalents—beginning of period 337.9 376.6
Cash and cash equivalents—end of period 552.9 325.0
Supplemental disclosure of cash flow information    
Cash paid for income taxes 66.0 46.7
Cash paid for interest $ 36.9 $ 41.9