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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 180,366 $ 138,431
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 12,658 10,208
Stock-based compensation 37,553 27,556
Noncash lease expense 4,243 4,073
Deferred income taxes 1,425 457
Amortization of investment premiums 5,446 1,042
Changes in operating assets and liabilities:    
Accounts receivable, net 9,074 46,329
Inventories (3,500) (17,691)
Prepaid expenses and other current assets (15,272) 25,751
Other assets (3,499) 3,946
Accounts payable 2,833 (6,386)
Accrued liabilities (20,759) (39,450)
Deferred revenue 69,204 21
Income taxes payable (10,436) 3,982
Other liabilities (14,661) (3,422)
Net cash provided by operating activities 254,675 194,847
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 379,605 414,503
Purchases of marketable securities (590,476) (674,649)
Business acquisitions, net of cash acquired 0 (66,225)
Purchases of property and equipment (5,096) (3,107)
Escrow receipts from past business acquisitions 18 0
Purchases of investments in privately-held companies (2,000) 0
Net cash used in investing activities (217,949) (329,478)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 18,081 17,082
Tax withholding paid on behalf of employees for net share settlement (2,496) (1,740)
Repurchase of common stock (101,355) (227,895)
Net cash used in financing activities (85,770) (212,553)
Effect of exchange rate changes (838) (2,691)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (49,882) (349,875)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 897,454 1,115,515
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 847,572 765,640
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Property and equipment included in accounts payable and accrued liabilities $ 1,529 $ 524