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Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income (loss) $ (35,610) $ (96,047) $ 316,438
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 21,509 46,489 27,500
Share-based compensation 647,860 497,123 415,382
Non-cash charitable contributions 12,890 0 45,300
Impairment and abandonment charges for leases and leasehold improvements 117,315 0 0
Amortization (accretion) of investment premiums discount (21,897) (638) 5,908
Other (2,438) (13,251) 3,699
Changes in assets and liabilities:      
Accounts receivable (80,782) (28,856) (88,862)
Prepaid expenses and other assets 18,102 (30,214) (14,727)
Operating lease right-of-use assets 55,324 56,024 43,995
Accounts payable (9,261) 70,777 (33,451)
Accrued expenses and other liabilities (43,544) 20,627 82,435
Operating lease liabilities (66,507) (52,832) (50,710)
Net cash provided by operating activities 612,961 469,202 752,907
Investing activities      
Purchases of property and equipment and intangible assets (8,063) (28,984) (9,031)
Purchases of marketable securities (1,308,020) (1,028,480) (1,104,087)
Sales of marketable securities 35,850 7,417 274,654
Maturities of marketable securities 1,243,240 1,007,861 849,520
Acquisition of business, net of cash acquired 0 (86,059) (36,914)
Net cash used in investing activities (36,993) (128,245) (25,858)
Financing activities      
Proceeds from exercise of stock options, net 8,256 12,882 23,912
Repurchases of Class A common stock (500,000) 0 0
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards (335,019) (161,809) 0
Payment of deferred offering costs and other financing activities 0 0 (1,750)
Net cash (used in) provided by financing activities (826,763) (148,927) 22,162
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,667 (1,434) (1,058)
Net increase in cash, cash equivalents and restricted cash (249,128) 190,596 748,153
Cash, cash equivalents and restricted cash, beginning of period 1,617,660 1,427,064 678,911
Cash, cash equivalents and restricted cash, end of period 1,368,532 1,617,660 1,427,064
Supplemental cash flow information      
Cash paid for income taxes, net 19,173 10,008 1,494
Non-cash investing and financing activities:      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 32,784 $ 31,515 $ 118,977