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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 92,541 $ 109,802
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,251 9,987
Amortization of premium (discount) on available-for-sale securities (4,123) 260
Gain on deferred compensation plan investments (4,019) (2,534)
Deferred taxes, net 248 (622)
Stock-based compensation expense 45,926 37,009
Other (63) 0
Changes in operating assets and liabilities:    
Accounts receivable (14,578) (1,558)
Inventories (11,596) 16,063
Other assets 74,477 213
Accounts payable 35,934 (880)
Accrued compensation and related benefits 14,698 13,422
Income tax liabilities 3,011 20,137
Other accrued liabilities 7,344 17,508
Net cash provided by operating activities 248,051 218,807
Cash flows from investing activities:    
Purchases of property and equipment (15,991) (8,854)
Purchases of investments (365,856) (129,321)
Maturities and sales of investments 149,766 152,698
Cash paid for acquisition, net of cash acquired (33,284) 0
Contributions to deferred compensation plan, net (650) (2,209)
Net cash provided by (used in) investing activities (266,015) 12,314
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (978) (374)
Proceeds from common stock issued under the employee equity incentive plan 0 1,110
Proceeds from common stock issued under the employee stock purchase plan 4,606 3,737
Repurchases of common stock (4,076) 0
Dividends and dividend equivalents paid (49,553) (36,725)
Net cash used in financing activities (50,001) (32,252)
Effect of change in exchange rates (4,818) 1,497
Net increase (decrease) in cash, cash equivalents and restricted cash (72,783) 200,366
Cash, cash equivalents and restricted cash, beginning of period 561,181 288,729
Cash, cash equivalents and restricted cash, end of period 488,398 489,095
Supplemental disclosures for cash flow information:    
Cash paid (refunded) for income taxes, net 725 (1,300)
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 5,995 2,482
Liability accrued for dividends and dividend equivalents $ 61,892 $ 49,219