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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 133,791 $ 92,541
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,449 8,251
Amortization of discount on available-for-sale securities (768) (4,123)
Loss (gain) on deferred compensation plan investments 1,350 (4,019)
Deferred taxes, net 8,431 248
Stock-based compensation expense 52,806 45,926
Other 20 (63)
Changes in operating assets and liabilities:    
Accounts receivable (42,338) (14,578)
Inventories (35,180) (11,596)
Other assets 78,005 74,477
Accounts payable 21,296 35,934
Accrued compensation and related benefits 10,609 14,698
Income tax liabilities 21,471 3,011
Other accrued liabilities (4,555) 7,344
Net cash provided by operating activities 256,387 248,051
Cash flows from investing activities:    
Purchases of property and equipment (40,342) (15,991)
Purchases of investments (357,633) (365,856)
Maturities and sales of investments 141,065 149,766
Cash paid for acquisition, net of cash acquired 0 (33,284)
Contributions to deferred compensation plan (575) (650)
Net cash used in investing activities (257,485) (266,015)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (1,243) (978)
Proceeds from common stock issued under the employee stock purchase plan 5,335 4,606
Repurchases of common stock 0 (4,076)
Dividends and dividend equivalents paid (60,008) (49,553)
Net cash used in financing activities (55,916) (50,001)
Effect of change in exchange rates 2,555 (4,818)
Net decrease in cash, cash equivalents and restricted cash (54,459) (72,783)
Cash, cash equivalents and restricted cash, beginning of period 691,941 561,181
Cash, cash equivalents and restricted cash, end of period 637,482 488,398
Supplemental disclosures for cash flow information:    
Cash paid (refunded) for income taxes, net (218) 725
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 14,611 5,995
Liability accrued for dividends and dividend equivalents $ 75,939 $ 61,892