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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 925,357 $ 601,559
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 45,169 37,864
Stock-based compensation 165,980 135,632
Noncash lease expense 13,837 12,738
Deferred income taxes (148,355) (573)
Unrealized gain on equity investments (24,121) 0
Amortization of investment premiums 14,167 19,193
Changes in operating assets and liabilities:    
Accounts receivable, net (129,947) (6,050)
Inventories (449,792) (95,997)
Prepaid expenses and other current assets (68,996) (71,300)
Other assets (17,899) (2,915)
Accounts payable 73,480 (1,075)
Accrued liabilities 14,690 31,316
Deferred revenue (1,245) 149,613
Income taxes payable 41,074 (3,565)
Other liabilities (1,059) (15,820)
Net cash provided by operating activities 452,340 790,620
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 1,277,821 1,158,723
Purchases of marketable securities (973,489) (1,974,853)
Purchases of property and equipment (34,184) (55,455)
Business acquisitions, net of cash acquired (145,087) 0
Escrow receipts from past business acquisitions 0 1,299
Investments and notes receivable in privately-held companies (12,691) (10,684)
Proceeds from sale of marketable securities 186,782 19,607
Net cash provided by (used in) investing activities 299,152 (861,363)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 43,073 56,154
Tax withholdings paid on behalf of employees for net share settlement (25,542) (10,622)
Repurchases of common stock (667,470) (235,512)
Net cash used in financing activities (649,939) (189,980)
Effect of exchange rate changes (6,090) (1,513)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 95,463 (262,236)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 625,050 897,454
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 720,513 635,218
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Right-of-use assets obtained in exchange for new operating lease liabilities 7,300 4,824
Property and equipment included in accounts payable and accrued liabilities 5,704 3,849
Common stock issued for business acquisition $ 4,049 $ 0