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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 226,789 $ 307,106
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 349,483 314,732
Stock-based compensation 224,754 191,726
Provision for deferred income taxes 44,063 3,479
Amortization of debt issuance costs 3,250 3,342
(Gain) loss on investments (9,313) 66
Other non-cash reconciling items, net 3,982 3,958
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (33,117) 16,802
Prepaid expenses and other current assets (29,699) (24,763)
Accounts payable and accrued expenses (84,541) (47,426)
Deferred revenue 23,117 22,697
Other current liabilities (22,457) 980
Other non-current assets and liabilities 14,038 (9,858)
Net cash provided by operating activities 710,349 782,841
Cash flows from investing activities:    
Cash received (paid) for business acquisitions, net of cash acquired 790 (434,066)
Cash paid for asset acquisitions (29,930) (4,796)
Purchases of property and equipment (263,312) (184,745)
Capitalization of internal-use software development costs (156,477) (152,546)
Purchases of short- and long-term marketable securities (669,795) (186,122)
Proceeds from sales of short- and long-term marketable securities 266,004 307,614
Proceeds from maturities and redemptions of short- and long-term marketable securities 1,053,221 211,861
Other, net (6,521) 4,535
Net cash provided by (used in) investing activities 193,980 (438,265)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 250,000 0
Repayment of borrowings under revolving credit facility (250,000) 0
Proceeds from the issuance of convertible senior notes, net of issuance costs 1,702,188 0
Proceeds from the issuance of warrants related to convertible senior notes 330,855 0
Purchase of note hedge related to convertible senior notes (605,820) 0
Repayment of convertible senior notes (1,149,992) 0
Proceeds related to the issuance of common stock under stock plans 29,241 28,266
Employee taxes paid related to net share settlement of stock awards (97,929) (141,247)
Repurchases of common stock (799,963) (253,258)
Other, net (2,035) (10,187)
Net cash used in financing activities (593,455) (376,426)
Effects of exchange rate changes on cash, cash equivalents and restricted cash 21,501 (9,306)
Net increase (decrease) in cash, cash equivalents and restricted cash 332,375 (41,156)
Cash, cash equivalents and restricted cash at beginning of period 519,084 490,470
Cash, cash equivalents and restricted cash at end of period 851,459 449,314
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net of refunds received of $3,634 and $5,033 for the six months ended June 30, 2025 and 2024, respectively 113,104 87,375
Cash paid for interest expense 11,380 10,145
Cash paid for operating lease liabilities 156,036 136,628
Non-cash activities:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 182,731 206,460
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 75,565 46,837
Capitalization of stock-based compensation 63,918 53,989
Reconciliation of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 850,302 448,042
Restricted cash 1,157 1,272
Cash, cash equivalents and restricted cash $ 851,459 $ 449,314