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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 822,726 $ 814,958
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 178,156 166,805
Deferred income tax provision (9,890) (5,826)
Impairment, closure costs, and asset disposals 11,056 9,917
Provision for credit losses (1,247) (155)
Stock-based compensation expense 75,150 81,243
Other 7,622 4,511
Changes in operating assets and liabilities:    
Accounts receivable 39,946 18,331
Inventory 8,493 3,763
Prepaid expenses and other current assets (3,606) 20,348
Operating lease assets 150,957 135,881
Other assets (362) 1,769
Accounts payable 12,360 7,802
Accrued payroll and benefits (24,689) (4,438)
Accrued liabilities 2,126 17,056
Unearned revenue (25,555) (22,260)
Income tax payable/receivable (13,433) (18,565)
Operating lease liabilities (113,450) (101,348)
Other long-term liabilities 2,042 2,020
Net cash provided by operating activities 1,118,402 1,131,812
Investing activities    
Purchases of leasehold improvements, property and equipment (305,395) (273,193)
Purchases of investments (6,500) (738,434)
Maturities of investments 319,962 374,373
Net cash provided by/(used in) investing activities 8,067 (637,254)
Financing activities    
Repurchase of common stock (997,055) (172,368)
Tax withholding on stock-based compensation awards (33,319) (73,011)
Other financing activities 1,540 (29)
Net cash used in financing activities (1,028,834) (245,408)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (786) (1,121)
Net change in cash, cash equivalents, and restricted cash 96,849 248,029
Cash, cash equivalents, and restricted cash at beginning of period 778,379 586,163
Cash, cash equivalents, and restricted cash at end of period 875,228 834,192
Supplemental disclosures of cash flow information    
Income taxes paid 279,327 277,427
Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities 75,585 76,304
Repurchase of common stock accrued in accounts payable and accrued liabilities $ 9,016 $ 9,803