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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 121.3 $ 139.8
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation 16.2 12.8
Amortization of intangible assets 24.6 23.6
Share-based compensation expense 12.5 12.8
Deferred income taxes 0.2 (0.2)
Changes in (net of the effect from acquisitions and foreign currency translation):    
Receivables - net (12.2) (0.7)
Inventories - net (9.5) (23.3)
Other current assets (10.9) (11.1)
Trade accounts payable 8.9 7.6
Deferred revenue 6.8 10.2
Accrued expenses (1.5) (24.9)
Other - net 0.2 1.3
Net cash flows provided by operating activities 156.6 147.9
Cash flows from investing activities    
Capital expenditures (20.0) (26.6)
Purchases of marketable securities 0.0 (3.2)
Other - net 0.0 0.6
Net cash flows used in investing activities (20.0) (29.2)
Cash flows from financing activities    
Cash dividends paid to shareholders (48.5) (45.5)
Proceeds from share issuances, net of shares withheld for taxes 7.7 0.3
Other - net (0.2) 0.0
Net cash flows used in financing activities (41.0) (45.2)
Effect of exchange rate changes on cash and cash equivalents (13.6) 7.0
Net increase in cash and cash equivalents 82.0 80.5
Cash and cash equivalents at beginning of year 534.3 430.2
Cash and cash equivalents at end of period 616.3 510.7
Cash paid for:    
Interest 2.4 4.1
Income taxes - net $ 18.4 $ 20.7