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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 377,254 $ 283,224
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 25,235 21,170
Stock-based compensation 82,497 60,478
Noncash lease expense 8,410 8,223
Deferred income taxes (2,998) 2,668
Amortization of investment premiums 12,121 2,938
Changes in operating assets and liabilities:    
Accounts receivable, net 25,326 15,263
Inventories (63,531) (82,891)
Prepaid expenses and other current assets (44,356) 26,815
Other assets (3,390) 5,360
Accounts payable 10,879 31,473
Accrued liabilities 20,025 (39,882)
Deferred revenue 95,263 (19,242)
Income taxes payable (9,144) 16,820
Other liabilities (15,550) 646
Net cash provided by operating activities 518,041 333,063
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 819,807 875,213
Purchases of marketable securities (1,241,657) (1,236,477)
Purchases of property and equipment (9,567) (5,178)
Business acquisitions, net of cash acquired 0 (66,317)
Escrow receipts from past business acquisitions 1,419 0
Investment in privately-held companies and intangibles (6,084) 0
Net cash used in investing activities (436,082) (432,759)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 26,884 22,228
Tax withholding paid on behalf of employees for net share settlement (6,353) (4,000)
Repurchase of common stock (101,355) (227,895)
Net cash used in financing activities (80,824) (209,667)
Effect of exchange rate changes (665) (1,663)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 470 (311,026)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 897,454 1,115,515
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 897,924 804,489
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Right-of-use assets obtained in exchange for new operating lease liabilities 1,619 0
Property and equipment included in accounts payable and accrued liabilities $ 1,732 $ 788