XML 24 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES:    
Net income $ 607,210 $ 455,623
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 56,540 40,412
Amortization 46,550 43,018
Provision for uncollectible accounts 28,331 13,530
Deferred income tax expense (benefit) 8,654 (24,441)
Net unrealized gains on marketable equity securities (54,514) 0
Stock-based compensation expense and other stock-based payments 71,500 59,059
Amortization of debt issuance costs 2,113 2,067
Amortization of debt discount 15,127 17,625
Changes in assets and liabilities:    
Accounts receivable (96,034) (78,428)
Prepaid expenses and other current assets (708,925) (443,643)
Accounts payable, accrued expenses and other current liabilities 631,496 305,758
Other 32,327 (9,962)
Net cash provided by operating activities 640,375 380,618
INVESTING ACTIVITIES:    
Purchase of investments (713,748) (1,498,723)
Proceeds from sale of investments 2,481,251 676,474
Additions to property and equipment (131,987) (70,559)
Acquisitions and other investments, net of cash acquired 0 (6)
Net cash provided by (used in) investing activities 1,635,516 (892,814)
FINANCING ACTIVITIES:    
Proceeds from the issuance of long-term debt 0 1,051,722
Payments for conversion of senior notes (1,487,109) (4)
Payment of debt (348) 0
Payments for repurchase of common stock (718,941) (209,797)
Proceeds from exercise of stock options 1,161 1,479
Net cash (used in) provided by financing activities (2,205,237) 843,400
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 10,599 21,737
Net increase in cash, cash equivalents and restricted cash and cash equivalents 81,253 352,941
Cash, cash equivalents and restricted cash and cash equivalents, beginning of period 2,563,341 2,082,007
Cash, cash equivalents and restricted cash and cash equivalents, end of period 2,644,594 2,434,948
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid during the period for income taxes 783,974 536,192
Cash paid during the period for interest 74,275 38,496
Non-cash financing activity $ 0 $ 1,000