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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 116,956 $ 117,964
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 96,228 74,454
Deferred income taxes (53,311) 30,349
Unrealized loss (gain) on strategic investments and marketable securities, net 42,306 (92,498)
Depreciation and amortization 22,587 18,171
Bond amortization (12,071) (61)
Noncash lease expense 4,890 4,997
Unrecognized tax benefits 4,302 3,519
Amortization of debt issuance cost 2,328  
Coupon interest expense 1,073  
Other noncash items (1,140) 2,659
Change in assets and liabilities:    
Accounts and notes receivable and contract assets (182,468) (115,046)
Inventory (59,564) (66,267)
Prepaid expenses and other assets (64,608) (17,871)
Accounts payable, accrued and other liabilities 13,423 28,684
Deferred revenue 118,294 115,187
Net cash provided by operating activities 49,225 104,241
Cash flows from investing activities:    
Purchases of investments (426,993) (194,142)
Proceeds from call, maturity, and sale of investments 461,214 15,485
Exercise of warrants of strategic investments   (6,555)
Purchases of property and equipment (35,624) (44,218)
Proceeds from disposal of property and equipment 67 226
Purchases of intangible assets (579) (193)
Strategic investments (17,692) (70,500)
Business acquisition, net of cash acquired (21,090) (2,104)
Net cash used in investing activities (40,697) (302,001)
Cash flows from financing activities:    
Net proceeds from equity offering 94,705 (74)
Proceeds from options exercised 54,503  
Income and payroll tax payments for net-settled stock awards (104,076) (2,391)
Net cash provided by (used in) financing activities 45,132 (2,465)
Effect of exchange rate changes on cash and cash equivalents (1,201) (6,783)
Net increase (decrease) in cash and cash equivalents 52,459 (207,008)
Cash and cash equivalents and restricted cash, beginning of period 355,552 356,438
Cash and cash equivalents and restricted cash, end of period $ 408,011 $ 149,430