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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 199,612 $ 247,098
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (36,688) 14,747
Depreciation and amortization 71,639 59,907
Stock-based compensation 75,595 65,761
Non-cash operating lease cost 15,531 15,075
Other non-cash operating activities 21,860 16,172
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable (73,680) (53,462)
Inventories 19,064 (91,060)
Prepaid expenses and other assets (16,799) (14,219)
Accounts payable (10,351) (23,944)
Accrued and other long-term liabilities 140,284 (212,896)
Long-term income tax payable (11,113) (1,657)
Deferred revenues 56,718 136,021
Net cash provided by operating activities 451,672 157,543
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (122,664) (163,348)
Purchase of marketable securities (2,373) (20,466)
Proceeds from maturities of marketable securities 17,601 21,690
Proceeds from sales of marketable securities 4,048 92,235
Purchase of equity investments (75,000) 0
Other investing activities 74 (2,189)
Net cash used in investing activities (178,314) (72,078)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 14,256 14,827
Common stock repurchases (292,360) (275,036)
Payments for equity forward contracts related to accelerated share repurchase agreements 40,000 0
Payroll taxes paid upon the vesting of equity awards (21,788) (52,187)
Net cash used in financing activities (259,892) (312,396)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (3,523) 4,978
Net increase (decrease) in cash, cash equivalents, and restricted cash 9,943 (221,953)
Cash, cash equivalents, and restricted cash at beginning of the period 942,355 1,100,139
Cash, cash equivalents, and restricted cash at end of the period $ 952,298 $ 878,186