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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 433,887 $ 451,295 $ 419,375
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 85,275 60,516 59,255
Operating lease right-of-use assets amortization 20,971 18,459  
Deferred income tax benefit (30,932) (14,511) (33,675)
Provision for bad debts 6,438 2,928 1,577
Stock-based compensation expense 145,615 116,190 83,346
Other 2,180 2,778 410
Changes in operating assets and liabilities:      
Accounts receivable (160,319) (154,403) (74,455)
Other receivables and current assets (2,312) (26,182) (30,241)
Other long-term assets (14,818) (5,622) 1,839
Accounts payable, accrued expenses and current liabilities 21,362 38,543 19,920
Accrued income taxes 19,713 575 1,086
Deferred revenue 5,448 17,245 56,213
Other long-term liabilities 14,802 (7,875) (19,662)
Net cash provided by operating activities 547,310 499,936 484,988
Cash flows from investing activities:      
Acquisitions, net of cash acquired (572,328) (787,196) (283,026)
Capital expenditures (35,370) (44,940) (21,762)
Other investing activities (6,555) (1,412) (7,443)
Net cash used in investing activities (614,253) (833,548) (312,231)
Cash flows from financing activities:      
Proceeds from long-term debt 375,000 500,000 0
Principal payments on long-term debt (75,000) 0 0
Purchase of treasury stock (161,029) (59,116) (269,801)
Restricted stock withholding taxes paid in lieu of issued shares (71,019) (42,431) (28,879)
Proceeds from shares issued for stock-based compensation 29,560 34,093 41,019
Other financing activities (915) (3,137) (5,014)
Net cash provided by (used in) financing activities 96,597 429,409 (262,675)
Effect of exchange rate fluctuations on cash and cash equivalents 10,924 (842) (14,444)
Net increase (decrease) in cash and cash equivalents 40,578 94,955 (104,362)
Cash and cash equivalents, beginning of period 872,094 777,139 881,501
Cash and cash equivalents, end of period 912,672 872,094 777,139
Supplemental disclosures of cash flow information:      
Income taxes paid 54,174 86,770 87,244
Interest paid 11,941 787 114
Fair value of common stock issued and unpaid consideration in connection with acquisitions $ 232,690 $ 307,173 $ 0