CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

First Two Quarters of

2022

Cash flow from operating activities:

Net income

$                  278.3

$                  253.5

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation expense

20.0

20.8

Amortization expense

66.9

70.8

Deferred income taxes

(24.9)

(4.9)

Stock-based compensation

61.3

62.8

Divestitures gain, net

(97.1)

(24.0)

Other, net

12.6

3.6

(Increase) decrease in assets:

Accounts receivable, net

(1.5)

35.2

Inventories

(72.4)

(0.3)

Other current and non-current assets

(25.6)

(22.4)

Increase (decrease) in liabilities:

Accounts payable

(7.9)

39.2

Accrued compensation and benefits

(46.4)

6.3

Deferred revenue

67.3

3.9

Other current and non-current liabilities

(28.8)

(15.7)

Net cash provided by operating activities

201.8

428.8

Cash flow from investing activities:

Purchases of property and equipment

(28.5)

(21.4)

Net proceeds from sale of businesses

210.5

46.0

Net proceeds from sale of property and equipment

0.1

20.7

Other, net

(9.8)

(2.4)

Net cash provided by investing activities

172.3

42.9

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

(21.7)

(17.3)

Repurchases of common stock

(304.7)

(40.0)

Proceeds from debt and revolving credit lines

138.2

198.9

Payments on debt and revolving credit lines

(138.2)

(363.3)

Other, net

(8.9)

(1.4)

Net cash used in financing activities

(335.3)

(223.1)

Effect of exchange rate changes on cash and cash equivalents

(14.4)

(1.9)

Net increase in cash and cash equivalents

24.4

246.7

Cash and cash equivalents - beginning of period

325.7

237.7

Cash and cash equivalents - end of period

$                  350.1

$                  484.4