v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 64.7 $ 123.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 8.5 9.5
Amortization 38.2 32.4
Other non-cash items, net 36.1 33.7
Increase/(decrease) in cash, excluding the effects of acquisitions, resulting from changes in:    
Other assets (26.2) (21.5)
Accounts payable and accrued liabilities 7.4 (32.0)
Income taxes payable (9.5) (2.1)
Other liabilities (10.2) 4.7
Net cash provided by operating activities 109.0 148.2
Cash flows from investing activities    
Payments for capitalized contract costs (20.7) (1.6)
Payments for internal use software (19.7) (19.4)
Purchases of property and equipment (6.4) (3.4)
Purchases of settlement investments (40.7) (128.0)
Proceeds from the sale of settlement investments 4.7 33.1
Maturities of settlement investments 28.5 8.0
Other investing activities (1.2) 0.2
Net cash used in investing activities (55.5) (111.1)
Cash flows from financing activities    
Cash dividends and dividend equivalents paid (Note 9) (79.4) (82.3)
Common stock repurchased (Note 9) (52.9) (76.7)
Net (repayments of)/proceeds from commercial paper (92.6) 350.0
Net repayments of credit facility borrowings (8.3)  
Net proceeds from issuance of borrowings 446.6  
Principal payments on borrowings (600.0) (500.0)
Net change in settlement obligations 176.8 (387.5)
Other financing activities 1.6 (0.1)
Net cash used in financing activities (208.2) (696.6)
Net change in cash and cash equivalents, including settlement, and restricted cash (154.7) (659.5)
Cash and cash equivalents, including settlement, and restricted cash at beginning of period 1,637.7 2,106.9
Cash and cash equivalents, including settlement, and restricted cash at end of period 1,483.0 1,447.4
Reconciliation of balance sheet cash and cash equivalents to cash flows:    
Cash and cash equivalents on balance sheet 909.2 1,289.0
Settlement cash and cash equivalents (Note 8) 572.9 157.2
Restricted cash in Other assets 0.9 1.2
Cash and cash equivalents, including settlement, and restricted cash 1,483.0 1,447.4
Supplemental cash flow information:    
Interest paid 26.7 23.8
Income taxes paid $ 25.5 $ 14.1