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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 241,850 $ 118,722
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock-based compensation 251,716 96,228
(Gain) loss on strategic investments and marketable securities, net (192,158) 42,306
Depreciation and amortization 30,745 12,844
Provision for bad debts and inventory 13,824 5,083
Deferred income taxes (27,061) (52,955)
Other noncash items 13,183 8,238
Change in assets and liabilities:    
Receivables and contract assets (226,759) (186,614)
Inventory (11,629) (65,096)
Deferred revenue 56,720 103,386
Accounts payable, accrued and other liabilities 10,243 13,367
Other, net (2,528) (46,284)
Net cash provided by operating activities 158,146 49,225
Cash flows from investing activities:    
Purchases of investments (615,414) (444,685)
Business acquisitions, net of cash acquired (237,796) (21,090)
Proceeds from call, maturity, and sale of investments 858,326 461,214
Proceeds from call, maturity, and sale of investments (53,984) (35,624)
Other, net 34 (512)
Net cash (used in) investing activities (48,834) (40,697)
Cash flows from financing activities:    
Net proceeds from equity offering 0 94,705
Proceeds from options exercised 9,717 54,503
Income and payroll tax payments for net-settled stock awards (22,325) (104,076)
Net cash (used in) provided by financing activities (12,608) 45,132
Effect of exchange rate changes on cash and cash equivalents 75 (1,201)
Net increase in cash and cash equivalents 96,779 52,459
Cash and cash equivalents and restricted cash, beginning of period 600,670 355,552
Cash and cash equivalents and restricted cash, end of period $ 697,449 $ 408,011