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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 157,793 $ 319,368
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 18,440 15,355
Stock-based compensation 66,583 54,991
Deferred income taxes (49,615) (22,743)
Unrealized loss on investments in privately-held companies, net 9,100 0
Amortization (accretion) of investment premiums (discounts) (1,863) 1,106
Changes in operating assets and liabilities:    
Accounts receivable, net (68,192) 40,508
Inventories 98,284 (96,667)
Prepaid expenses and other current assets (50,507) (20,973)
Other assets (767) (1,560)
Accounts payable 30,515 (46,075)
Accrued liabilities (35,917) 4,175
Deferred revenue 13,161 192,210
Income taxes payable 10,311 7,421
Other liabilities 9,974 847
Net cash provided by operating activities 207,300 447,963
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 366,999 135,483
Purchases of marketable securities (827,198) (325,414)
Business acquisitions, net of cash acquired (95,640) 0
Purchases of property and equipment (17,613) (12,159)
Investments in privately-held companies (8,000) 0
Proceeds from repayment of notes receivable 0 3,000
Other investing activities (2,000) 0
Net cash used in investing activities [1] (583,452) (199,090)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments of lease financing obligations (1,392) (1,170)
Proceeds from issuance of common stock under equity plans 49,642 41,870
Tax withholding paid on behalf of employees for net share settlement (6,914) (2,457)
Net cash provided by financing activities 41,336 38,243
Effect of exchange rate changes (984) 697
NET INCREASE/(DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (335,800) 287,813
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 864,697 572,168
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period [2] 528,897 859,981
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING INFORMATION:    
Common stock issued for business acquisition 15,555 0
Property and equipment included in accounts payable and accrued liabilities $ 2,479 $ 468
[1] Net cash used in investing activities for the nine months ended September 30, 2017 was adjusted as a result of our adoption of Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, in the first quarter of 2018. See Note 1 of the accompanying notes for details of the adjustments.
[2] See Note 4 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this condensed consolidated statements of cash flows.