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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET INCOME $ 426,859 $ 167,645 $ 141,561
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 96,426 104,386 101,969
Non-cash interest expense 3,359 4,188 4,117
Amortization of premium (accretion of discount) on investments (8,345) (9,228) 3,043
Stock-based compensation 201,571 207,099 196,308
Gain on sale of nonfinancial assets (10,000) 0 (108,000)
Impairment of assets and other non-cash adjustments 19,889 38,608 0
Deferred income taxes 56,096 (44,981) (52,087)
Unrealized foreign exchange loss (gain) (16,753) 28,446 (14,287)
Non-cash changes in the fair value of contingent consideration 0 0 1,704
Other 20,135 (365) (2,043)
Changes in operating assets and liabilities:      
Accounts receivable, net (57,909) (190,435) (82,033)
Inventory (63,530) (157,058) (68,264)
Other current assets (3,778) (50,335) 7,822
Other assets (73,700) (31,149) (19,859)
Accounts payable and other short-term liabilities (32,240) 68,853 59,018
Other long-term liabilities 14,761 23,585 6,933
Net cash provided by operating activities 572,841 159,259 175,902
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (85,424) (96,691) (120,959)
Maturities and sales of investments 633,018 864,863 619,995
Purchases of investments (410,250) (868,496) (611,809)
Proceeds from sale of nonfinancial assets 10,000 0 103,325
Purchase of intangible assets (11,994) (10,920) (10,581)
Other 1,141 0 0
Net cash provided by (used in) investing activities 136,491 (111,244) (20,029)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from exercises of awards under equity incentive plans 49,277 69,353 69,333
Taxes paid related to net share settlement of equity awards (77,560) (76,319) (54,283)
Repayments of convertible debt (494,987) 0 0
Payments of contingent consideration 0 (9,475) (31,095)
Other (3,177) (2,286) (2,605)
Net cash used in financing activities (526,447) (18,727) (18,650)
Effect of exchange rate changes on cash 4,830 1,308 32
NET INCREASE IN CASH AND CASH EQUIVALENTS 187,715 30,596 137,255
Cash and cash equivalents:      
Beginning of period 755,127 724,531 587,276
End of period 942,842 755,127 724,531
SUPPLEMENTAL CASH FLOW DISCLOSURES:      
Cash paid for interest 10,361 10,303 10,281
Cash paid for income taxes 57,269 73,312 54,372
SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Increase (decrease) in accounts payable and accrued liabilities related to fixed assets (6,730) 164 (1,482)
Increase (decrease) in accounts payable and accrued liabilities related to intangible assets $ (617) $ 6,904 $ 742