XML 19 R9.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 267,517 $ 192,907
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,569 16,942
Amortization of discount on available-for-sale securities (2,885) (10,040)
Gain on deferred compensation plan investments (4,230) (5,285)
Deferred taxes, net 17,040 (5,821)
Stock-based compensation expense 112,904 98,232
Other 29 77
Changes in operating assets and liabilities:    
Accounts receivable (22,264) 21,951
Inventories (71,018) (42,350)
Other assets 83,395 60,590
Accounts payable 36,627 30,725
Accrued compensation and related benefits 15,584 8,353
Income tax liabilities 33,798 7,459
Other accrued liabilities 2,958 15,286
Net cash provided by operating activities 494,024 389,026
Cash flows from investing activities:    
Purchases of property and equipment (88,485) (47,498)
Purchases of intangible assets (2,000) (18,175)
Purchases of investments (393,010) (589,615)
Maturities and sales of investments 211,227 420,514
Cash paid for acquisition, net of cash acquired 0 (33,283)
Contributions to deferred compensation plan (1,015) (1,309)
Net cash used in investing activities (273,283) (269,366)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (1,902) (2,010)
Proceeds from common stock issued under the employee stock purchase plan 5,335 4,606
Repurchases of common stock (3,687) (8,626)
Dividends and dividend equivalents paid (135,073) (117,608)
Net cash used in financing activities (135,327) (123,638)
Effect of change in exchange rates 10,169 (6,603)
Net increase (decrease) in cash, cash equivalents and restricted cash 95,583 (10,581)
Cash, cash equivalents and restricted cash, beginning of period 691,941 561,181
Cash, cash equivalents and restricted cash, end of period 787,524 550,600
Supplemental disclosures for cash flow information:    
Cash paid for income taxes, net 17,007 34,064
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 6,108 7,488
Liability accrued for dividends and dividend equivalents $ 77,193 $ 62,949