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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 272,259 $ 180,366
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 13,091 12,658
Stock-based compensation 50,279 37,553
Noncash lease expense 4,532 4,243
Deferred income taxes (81,822) 1,425
Unrealized gain on equity investments (28,497) 0
Amortization of investment premiums 7,033 5,446
Changes in operating assets and liabilities:    
Accounts receivable, net (131,861) 9,074
Inventories (43,531) (3,500)
Prepaid expenses and other current assets (107,999) (15,272)
Other assets (640) (3,499)
Accounts payable 2,478 2,833
Accrued liabilities (29,666) (20,759)
Deferred revenue 187,194 69,204
Income taxes payable 106,992 (10,436)
Other liabilities (2,704) (14,661)
Net cash provided by operating activities 217,138 254,675
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 404,176 379,605
Purchases of marketable securities (412,614) (590,476)
Business acquisitions, net of cash acquired (37,610) 18
Purchases of property and equipment (14,876) (5,096)
Purchases of investments in privately-held companies (11,691) (2,000)
Net cash used in investing activities (72,615) (217,949)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 19,160 18,081
Tax withholding paid on behalf of employees for net share settlement (12,741) (2,496)
Repurchase of common stock (136,228) (101,355)
Net cash used in financing activities (129,809) (85,770)
Effect of exchange rate changes (481) (838)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 14,233 (49,882)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 625,050 897,454
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 639,283 847,572
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Right-of-use assets obtained in exchange for new operating lease liabilities 6,022 0
Property and equipment included in accounts payable and accrued liabilities 2,759 1,529
Stock Issued $ 4,049 $ 0