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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 45,139 $ 54,871
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,689 5,755
Amortization of issuance cost 756  
Coupon interest expense 863  
Loss on disposal and abandonment of intangible assets 10 40
Loss on disposal and impairment of property, equipment, and other assets, net 146 106
Unrealized gains on strategic investments and marketable securities, net (15,570) (55,851)
Stock-based compensation 34,350 25,088
Deferred income taxes (9,660) 18,029
Unrecognized tax benefits 855 1,365
Bond amortization (3,890) 159
Noncash lease expense 1,395 1,556
Provision for expected credit losses 28 228
Change in assets and liabilities:    
Accounts and notes receivable and contract assets (50,431) 7,495
Inventory (15,811) (14,260)
Prepaid expenses and other assets (64,348) (7,074)
Accounts payable, accrued and other liabilities (37,043) (9,580)
Deferred revenue 50,199 16,037
Net cash provided by (used in) operating activities (56,323) 43,964
Cash flows from investing activities:    
Purchases of investments (145,124)  
Proceeds from call / maturity of investments 81,088 7,200
Purchases of property and equipment (8,513) (17,098)
Proceeds from disposal of property and equipment   87
Purchases of intangible assets (125) (37)
Strategic investments   (500)
Net cash used in investing activities (72,674) (10,348)
Cash flows from financing activities:    
Net proceeds from equity offering 33,650 (71)
Proceeds from options exercised 39,181  
Income and payroll tax payments for net-settled stock awards (34,841) (1,388)
Net cash provided by (used in) financing activities 37,990 (1,459)
Effect of exchange rate changes on cash and cash equivalents 779 (157)
Net increase (decrease) in cash and cash equivalents (90,228) 32,000
Cash and cash equivalents and restricted cash, beginning of period 355,552 356,438
Cash and cash equivalents and restricted cash, end of period $ 265,324 $ 388,438