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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 421,362 $ 445,053 $ 361,573
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred taxes 25,756 (18,642) (39,495)
Depreciation and amortization 145,034 142,401 125,793
Stock-based compensation 173,703 154,026 133,367
Non-cash operating lease cost 38,438 33,107 30,520
Impairments and fair value adjustments for equity investments (5,885) 4,990 0
Other non-cash operating activities 12,256 32,733 41,288
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable (153,487) (104,614) 21,549
Inventories 25,053 30,169 (130,097)
Prepaid expenses and other assets 67,527 (51,013) (65,514)
Accounts payable (843) (7,703) (36,523)
Accrued and other long-term liabilities 89,705 46,327 (121,942)
Long-term income tax payable (20,279) (7,772) 6,327
Deferred revenues (80,109) 86,714 241,886
Net cash provided by operating activities 738,231 785,776 568,732
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions, net of cash acquired (77,075) 0 (12,304)
Purchase of property, plant and equipment (115,580) (177,716) (291,900)
Purchase of marketable securities 0 (2,910) (28,002)
Proceeds from maturities of marketable securities 25,660 55,170 23,785
Proceeds from sales of marketable securities 18,193 6,234 97,316
Purchase of equity investments (106,345) (76,999) 0
Other investing activities 235 278 (2,211)
Net cash used in investing activities (254,912) (195,943) (213,316)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 25,281 26,595 26,149
Common stock repurchases (352,878) (592,360) (435,036)
Activity for equity forward contracts related to accelerated stock repurchase agreements, net 0 (10,000) (40,000)
Payroll taxes paid upon the vesting of equity awards (28,125) (22,575) (52,799)
Net cash used in financing activities (355,722) (598,340) (501,686)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (21,153) 4,671 (11,514)
Net (decrease) increase in cash, cash equivalents, and restricted cash 106,444 (3,836) (157,784)
Cash, cash equivalents, and restricted cash at beginning of year 938,519 942,355 1,100,139
Cash, cash equivalents, and restricted cash at end of year $ 1,044,963 $ 938,519 $ 942,355