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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 571,358 $ 377,254
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 28,012 25,235
Stock-based compensation 100,503 82,497
Noncash lease expense 9,161 8,410
Deferred income taxes (105,937) (2,998)
Unrealized gain on equity investments (23,413) 0
Amortization of investment premiums 11,457 12,121
Changes in operating assets and liabilities:    
Accounts receivable, net (64,335) 25,326
Inventories (202,052) (63,531)
Prepaid expenses and other current assets (158,149) (44,356)
Other assets (5,543) (3,390)
Accounts payable 71,169 10,879
Accrued liabilities (16,210) 20,025
Deferred revenue 91,201 95,263
Income taxes payable 10,792 (9,144)
Other liabilities 221 (15,550)
Net cash provided by operating activities 318,235 518,041
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 829,714 819,807
Purchases of marketable securities (641,979) (1,241,657)
Purchases of property and equipment (23,744) (9,567)
Business acquisitions, net of cash acquired (145,087) 1,419
Investments in privately-held companies and intangibles (11,691) (6,084)
Proceeds from sale of marketable securities 165,746 0
Net cash provided by (used in) investing activities 172,959 (436,082)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 22,991 26,884
Tax withholding paid on behalf of employees for net share settlement (18,802) (6,353)
Repurchase of common stock (619,888) (101,355)
Net cash used in financing activities (615,699) (80,824)
Effect of exchange rate changes (3,041) (665)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (127,546) 470
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 625,050 897,454
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 497,504 897,924
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Right-of-use assets obtained in exchange for new operating lease liabilities 6,022 1,619
Property and equipment included in accounts payable and accrued liabilities 4,520 1,732
Common stock issued for business acquisition $ 4,049 $ 0