For the Years Ended December 31, 2019 and 2018
| Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| (in millions) | |||||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income | $ | 132.2 | $ | 146.2 | $ | 449.9 | $ | 598.7 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization of fixed assets | 47.7 | 43.7 | 185.7 | 165.3 | |||||||||||
| Amortization of intangible assets | 37.9 | 32.3 | 138.0 | 130.8 | |||||||||||
| Amortization of debt issuance costs and original issue discount, net of original issue premium | 0.4 | 1.1 | 3.9 | 4.2 | |||||||||||
| Provision for doubtful accounts | 2.1 | 1.5 | 7.2 | 5.6 | |||||||||||
| Realized gain on subordinated promissory note | — | — | — | (12.3 | ) | ||||||||||
| Other operating expenses | — | — | 6.2 | — | |||||||||||
| Stock-based compensation expense | 6.3 | 8.4 | 42.7 | 38.5 | |||||||||||
| Realized (gain) loss on available-for-sale securities, net | (0.2 | ) | 0.4 | (0.9 | ) | 0.1 | |||||||||
| Deferred income taxes | (1.9 | ) | 27.0 | (29.3 | ) | 18.3 | |||||||||
| Loss on disposal of fixed assets, net | 0.3 | 0.1 | 0.3 | 0.3 | |||||||||||
| Changes in assets and liabilities, net of effects from acquisitions: | |||||||||||||||
| Accounts receivable | (15.8 | ) | (33.1 | ) | (70.3 | ) | (17.4 | ) | |||||||
| Prepaid expenses and other assets | 0.2 | (5.8 | ) | (19.7 | ) | (28.2 | ) | ||||||||
| Operating lease right-of-use assets, net | 22.8 | — | 51.3 | — | |||||||||||
| Income taxes | 1.1 | (16.8 | ) | 15.0 | (2.9 | ) | |||||||||
| Acquisition-related liabilities | 29.9 | 9.3 | 70.4 | 9.7 | |||||||||||
| Accounts payable and accrued liabilities | (1.8 | ) | 20.3 | 150.9 | 58.1 | ||||||||||
| Deferred revenues | (60.1 | ) | (50.5 | ) | 11.4 | 0.8 | |||||||||
| Operating lease liabilities | (22.3 | ) | — | (49.5 | ) | — | |||||||||
| Other liabilities | (2.4 | ) | (10.7 | ) | (6.9 | ) | (35.2 | ) | |||||||
| Net cash provided by operating activities | 176.4 | 173.4 | 956.3 | 934.4 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Acquisitions, net of cash acquired of $3.6 and $0, and $10.4 and $3.1, respectively | (589.7 | ) | (76.3 | ) | (699.2 | ) | (138.2 | ) | |||||||
| Escrow funding associated with acquisitions | — | (8.6 | ) | (4.5 | ) | (14.9 | ) | ||||||||
| Proceeds from subordinated promissory note | — | — | — | 121.4 | |||||||||||
| Capital expenditures | (64.0 | ) | (76.5 | ) | (216.8 | ) | (231.0 | ) | |||||||
| Other investing activities, net | 0.3 | (0.2 | ) | (7.4 | ) | (2.7 | ) | ||||||||
| Net cash used in investing activities | (653.4 | ) | (161.6 | ) | (927.9 | ) | (265.4 | ) | |||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| (in millions) | |||||||||||||||
| Cash flows from financing activities: | |||||||||||||||
| Proceeds (repayment) of short-term debt, net | 485.0 | 130.0 | 80.0 | (300.0 | ) | ||||||||||
| Repayments of current portion of long-term debt | — | — | (250.0 | ) | — | ||||||||||
| Proceeds from issuance of long-term debt, inclusive of original issue premium and net of original issue discount | — | — | 619.7 | — | |||||||||||
| Payment of debt issuance costs | (1.0 | ) | — | (6.3 | ) | — | |||||||||
| Repurchases of common stock | (100.0 | ) | (156.4 | ) | (300.0 | ) | (438.6 | ) | |||||||
| Net share settlement of taxes from restricted stock awards | (0.4 | ) | (0.2 | ) | (5.5 | ) | (3.7 | ) | |||||||
| Proceeds from stock options exercised | 6.6 | 12.6 | 52.4 | 87.3 | |||||||||||
| Dividends paid | (40.8 | ) | — | (163.5 | ) | — | |||||||||
| Other financing activities, net | (3.7 | ) | (7.3 | ) | (15.9 | ) | (14.8 | ) | |||||||
| Net cash provided by (used in) financing activities | 345.7 | (21.3 | ) | 10.9 | (669.8 | ) | |||||||||
| Effect of exchange rate changes | 4.4 | 1.4 | 6.1 | (2.0 | ) | ||||||||||
| Net increase (decrease) in cash and cash equivalents, including cash classified within current assets held for sale | (126.9 | ) | (8.1 | ) | 45.4 | (2.8 | ) | ||||||||
| Less: Decrease in cash classified within current assets held for sale | (0.3 | ) | — | (0.3 | ) | — | |||||||||
| (Decrease) increase in cash and cash equivalents | (127.2 | ) | (8.1 | ) | 45.1 | (2.8 | ) | ||||||||
| Cash and cash equivalents, beginning of period | 311.8 | 147.6 | 139.5 | 142.3 | |||||||||||
| Cash and cash equivalents, end of period | $ | 184.6 | $ | 139.5 | $ | 184.6 | $ | 139.5 | |||||||
| Supplemental disclosures: | |||||||||||||||
| Income taxes paid | $ | 40.9 | $ | 21.5 | $ | 139.8 | $ | 103.2 | |||||||
| Interest paid | $ | 42.7 | $ | 43.8 | $ | 119.9 | $ | 125.2 | |||||||
| Noncash investing and financing activities: | |||||||||||||||
| Deferred tax liability established on date of acquisitions | $ | 40.6 | $ | 0.5 | $ | 43.4 | $ | 5.6 | |||||||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $ | — | $ | — | $ | 247.6 | $ | — | |||||||
| Finance lease additions | $ | 1.0 | $ | 8.5 | $ | 20.2 | $ | 21.3 | |||||||
| Operating lease additions, net of terminations | $ | 10.4 | $ | — | $ | 13.7 | $ | — | |||||||
| Tenant improvement | $ | 0.1 | $ | 0.2 | $ | 1.7 | $ | 0.3 | |||||||
| Fixed assets included in accounts payable and accrued liabilities | $ | 1.6 | $ | 0.3 | $ | 1.6 | $ | 0.3 | |||||||
| Dividend payable included in other liabilities | $ | 0.6 | $ | — | $ | 0.6 | $ | — | |||||||
