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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 174,015 $ 57,559
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock-based compensation 149,936 66,241
(Gain) loss on strategic investments and marketable securities, net (105,386) 46,342
Realized gain on remeasurement of previously held minority interest, net (42,313)  
Depreciation and amortization 24,564 14,169
Bond amortization (8,387) (8,036)
Deferred income taxes (7,755) (37,605)
Noncash lease expense 3,516 2,978
Amortization of debt issuance costs 1,565 1,531
Unrecognized tax benefits 924 2,867
Other noncash items 4,165 1,457
Change in assets and liabilities:    
Accounts and notes receivable and contract assets (60,513) (102,205)
Inventory (8,116) (43,585)
Prepaid expenses and other assets (4,252) (49,290)
Accounts payable, accrued and other liabilities (43,071) (35,976)
Deferred revenue (12,067) 69,886
Net cash provided by (used in) operating activities 66,825 (13,667)
Cash flows from investing activities:    
Purchases of investments (414,361) (246,049)
Proceeds from call, maturity, and sale of investments 664,358 381,082
Purchases of property and equipment (27,512) (21,650)
Proceeds from disposal of property and equipment 34 3
Purchases of intangible assets   (187)
Strategic investments (76,628) (10,917)
Business acquisitions, net of cash acquired (237,796) (21,026)
Net cash (used in) provided by investing activities (91,905) 81,256
Cash flows from financing activities:    
Net proceeds from equity offering   94,806
Proceeds from options exercised   54,503
Income and payroll tax payments for net-settled stock awards (4,895) (97,055)
Net cash (used in) provided by financing activities (4,895) 52,254
Effect of exchange rate changes on cash and cash equivalents (2,086) 806
Net (decrease) increase in cash and cash equivalents (32,061) 120,649
Cash and cash equivalents and restricted cash, beginning of period 600,670 355,552
Cash and cash equivalents and restricted cash, end of period $ 568,609 $ 476,201