CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

First Quarter of

2022

Cash flow from operating activities:

     Net income

$                  110.3

$                  114.6

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

          Depreciation expense

10.0

10.3

          Amortization expense

34.6

35.8

          Deferred income taxes

(16.8)

0.4

          Stock-based compensation

28.3

27.2

          Other, net

16.7

(3.8)

     (Increase) decrease in assets:

          Accounts receivable, net

(34.6)

40.0

          Inventories

(42.7)

(0.9)

          Other current and non-current assets

(14.6)

2.8

     Increase (decrease) in liabilities:

          Accounts payable

7.8

14.5

          Accrued compensation and benefits

(75.6)

(25.0)

          Deferred revenue

73.3

9.2

          Other current and non-current liabilities

56.3

3.1

Net cash provided by operating activities

153.0

228.2

Cash flow from investing activities:

     Purchases of property and equipment

(14.5)

(10.6)

     Other, net

1.1

1.4

Net cash used in investing activities

(13.4)

(9.2)

Cash flow from financing activities:

     Issuance of common stock, net of tax withholdings

(2.4)

8.0

     Repurchases of common stock

(104.7)

(40.0)

     Proceeds from debt and revolving credit lines

118.8

180.8

     Payments on debt and revolving credit lines

(118.8)

(335.7)

     Other, net

(2.6)

—

Net cash used in financing activities

(109.7)

(186.9)

Effect of exchange rate changes on cash and cash equivalents

1.6

(5.2)

Net increase in cash and cash equivalents

31.5

26.9

Cash and cash equivalents - beginning of period

325.7

237.7

Cash and cash equivalents - end of period

$                  357.2

$                  264.6