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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income (loss) $ 446,575 $ (184,480)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities    
Share-based compensation 107,458 79,747
Depreciation 26,219 17,885
Amortization of intangible assets 10,541 11
Amortization of right-of-use assets 7,945 7,257
Amortization of premiums, accretion of discounts, and (gains) losses on debt securities (426) (3,750)
(Gains) losses on equity securities (11,604) 10,258
Changes in operating assets and liabilities    
Accounts receivable, net (57,166) (44,037)
Inventories (10,795) (38,795)
Prepaid expenses and other assets (16,792) 3,414
Lease liability (8,223) (4,633)
Deferred revenue 300 (26,572)
Other liabilities 173,392 31,809
Net cash provided (used) by operating activities 667,424 (151,886)
Investing activities:    
Purchases of securities (811,274) (666,120)
Proceeds from maturities of securities 587,000 375,000
Proceeds from sales of securities 194,733 0
Purchases of property and equipment (65,899) (51,763)
Net cash used by investing activities (95,440) (342,883)
Financing activities:    
Net proceeds from issuance of common stock 0 548,691
Proceeds from exercise of stock options and employee stock purchase plan 72,773 61,358
Net cash provided by financing activities 72,773 610,049
Effect of exchange rate changes on cash and cash equivalents 135 0
Net increase in cash and cash equivalents 644,892 115,280
Cash and cash equivalents at beginning of period 274,562 78,186
Cash and cash equivalents at end of period $ 919,454 $ 193,466