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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 825.7 $ 821.3 $ 802.9
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation of property and equipment 16.7 16.4 12.9
Amortization of premium and accretion of discount on marketable securities, net 2.0 13.6 20.0
Realized loss (gain) on sale of marketable securities, net (0.7) 1.8 0.2
Amortization of intangible assets 7.3 4.4 3.8
Stock-based compensation 106.7 89.3 87.4
Deferred income tax expense 9.5 16.8 64.6
Decrease (increase) in trade receivables, net (0.4) (21.8) 6.3
Decrease in prepaid expenses and other assets 15.5 2.0 5.6
Increase (decrease) in trade payables (4.8) 6.6 (7.8)
Increase (decrease) in employees and payroll accruals 39.8 20.1 (4.5)
Increase (decrease) in income tax accrual and accrued expenses and other liabilities 34.6 28.3 (3.5)
Increase in deferred revenues 48.7 145.0 121.0
Other 3.7 (0.2) 0.7
Net cash provided by operating activities 1,104.3 1,143.6 1,109.6
Cash flows from investing activities:      
Proceeds from maturity of marketable securities 2,140.1 1,464.4 1,363.7
Proceeds from sale of marketable securities 167.4 150.2 66.1
Proceeds from short-term bank deposits 4.9   106.6
Investment in marketable securities (2,188.9) (1,767.5) (1,686.4)
Investment in short-term bank deposits   (5.0)  
Cash paid in conjunction with acquisitions, net of acquired cash (37.6) (154.9)  
Purchase of property and equipment (25.9) (17.2) (28.8)
Net cash provided by (used in) investing activities 60.0 (330.0) (178.8)
Cash flows from financing activities:      
Proceeds from issuance of treasury shares upon exercise of options 95.3 353.6 127.5
Purchase of treasury shares at cost (1,278.0) (1,103.9) (995.3)
Payments related to shares withheld for taxes (6.0) (4.7) (5.4)
Net cash used in financing activities (1,188.7) (755.0) (873.2)
Increase (decrease) in cash and cash equivalents (24.4) 58.6 57.6
Cash and cash equivalents at the beginning of the year 303.6 245.0 187.4
Cash and cash equivalents at the end of the year 279.2 303.6 245.0
Supplemental disclosure of cash flow information:      
Cash paid during the year for taxes on income 87.3 67.9 $ 143.0
Non-cash investing activity      
Fair value of awards attributable to pre-acquisition services 0.5 $ 2.2  
Right-of-use asset recognized with corresponding lease liability $ 33.4