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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 427,374 $ 437,672 $ 242,023
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,168 37,114 28,699
Amortization of premium (discount) on available-for-sale securities (5,277) 4,375 4,674
Loss (gain) on deferred compensation plan investments (8,505) 6,600 (4,563)
Deferred taxes, net 5,865 (13,220) (2,772)
Gain on sale of equity investment (1,424) 0 0
Stock-based compensation expense 149,711 160,992 123,479
Other (23) 97 110
Changes in operating assets and liabilities:      
Accounts receivable 2,884 (77,903) (37,976)
Inventories 63,583 (188,073) (102,323)
Other assets (24,310) (177,284) (15,311)
Accounts payable 4,797 (11,240) 32,926
Accrued compensation and related benefits (31,187) 28,514 16,536
Income tax liabilities (308) 16,559 11,771
Other accrued liabilities 14,865 22,471 22,737
Net cash provided by operating activities 638,213 246,674 320,010
Cash flows from investing activities:      
Purchases of property and equipment (57,578) (58,843) (94,420)
Purchases of investments (582,603) (65,785) (394,886)
Maturities and sales of investments 468,308 128,610 113,755
Contributions to deferred compensation plan, net (6,853) (16,492) (2,542)
Purchases of intangible assets 0 0 (793)
Net cash used in investing activities (178,726) (12,510) (378,886)
Cash flows from financing activities:      
Property and equipment purchased on extended payment terms (2,826) (2,055) (2,834)
Proceeds from common stock issued under the employee equity incentive plan 1,118 5,358 17,322
Proceeds from common stock issued under the employee stock purchase plan 7,568 5,877 4,670
Repurchase of common stock (3,741) 0 0
Dividends and dividend equivalents paid (185,844) (137,965) (109,364)
Net cash used in financing activities (183,725) (128,785) (90,206)
Effect of change in exchange rates (3,310) (6,039) 3,400
Net increase (decrease) in cash, cash equivalents and restricted cash 272,452 99,340 (145,682)
Cash, cash equivalents and restricted cash, beginning of period 288,729 189,389 335,071
Cash, cash equivalents and restricted cash, end of period 561,181 288,729 189,389
Supplemental disclosures for cash flow information:      
Cash paid for income taxes, net 85,128 85,031 21,148
Non-cash investing and financing activities:      
Liability accrued for property and equipment purchases 1,784 5,743 17,877
Liability accrued for dividends and dividend equivalents $ 53,213 $ 40,939 $ 33,059