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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 88,662 $ 50,852
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 27,350 26,421
Non-cash interest expense 990 1,029
Accretion of discount on investments (2,502) (1,970)
Stock-based compensation 58,249 53,695
Gain on sale of nonfinancial assets (10,000) 0
Impairment of assets 0 12,650
Deferred income taxes 285 (6,360)
Unrealized foreign exchange loss (gain) (10,804) 6,615
Other 127 (222)
Changes in operating assets and liabilities:    
Accounts receivable, net (3,386) (138,796)
Inventory (16,820) (14,098)
Other current assets (17,353) (36,001)
Other assets (12,130) (323)
Accounts payable and other short-term liabilities (59,006) (31,686)
Other long-term liabilities 3,309 4,262
Net cash provided by (used in) operating activities 46,971 (73,932)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (26,104) (24,456)
Maturities and sales of investments 131,533 215,118
Purchases of investments (121,665) (220,364)
Proceeds from sale of nonfinancial assets 10,000 0
Purchase of intangible assets (8,000) (310)
Net cash used in investing activities (14,236) (30,012)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of awards under equity incentive plans 7,197 21,169
Taxes paid related to net share settlement of equity awards (49,948) (51,422)
Payments of contingent consideration 0 (9,475)
Principal repayments of financing leases (42) (1,014)
Net cash used in financing activities (42,793) (40,742)
Effect of exchange rate changes on cash 1,927 229
NET DECREASE IN CASH AND CASH EQUIVALENTS (8,131) (144,457)
Cash and cash equivalents:    
Beginning of period 755,127 724,531
End of period 746,996 580,074
SUPPLEMENTAL CASH FLOW DISCLOSURES:    
Cash paid for interest 1,420 1,437
Cash paid for income taxes 2,301 4,364
SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Increase (decrease) in accounts payable and accrued liabilities related to fixed assets 8,167 (8,430)
Decrease in accounts payable and accrued liabilities related to intangible assets $ (8,512) $ (1,478)