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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 105,028 $ 87,798
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes 18,047 (18,417)
Depreciation and amortization 32,946 35,820
Stock-based compensation 38,788 37,735
Non-cash operating lease cost 9,612 7,755
Other non-cash operating activities (2,359) 11,586
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable (69,589) (32,734)
Inventories 15,573 24,008
Prepaid expenses and other assets (79,160) (26,850)
Accounts payable 4,100 5,993
Accrued and other long-term liabilities (34,473) 37,420
Long-term income tax payable 4,570 2,119
Deferred revenues (14,419) 27,662
Net cash provided by operating activities 28,664 199,895
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired (77,075) 0
Purchase of property, plant and equipment (9,369) (64,119)
Purchase of marketable securities 0 (2,371)
Proceeds from maturities of marketable securities 6,035 10,870
Proceeds from sales of marketable securities 831 2,785
Other investing activities (6) 6
Net cash used in investing activities (79,584) (52,829)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 14,339 14,256
Common stock repurchases 0 (292,360)
Activity for equity forward contracts related to accelerated stock repurchase agreements, net 0 40,000
Payroll taxes paid upon the vesting of equity awards (26,055) (20,857)
Net cash used in financing activities (11,716) (258,961)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (9,004) 2,221
Net decrease in cash, cash equivalents, and restricted cash (71,640) (109,674)
Cash, cash equivalents, and restricted cash at beginning of the period 938,519 942,355
Cash, cash equivalents, and restricted cash at end of the period $ 866,879 $ 832,681