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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 436,473 $ 272,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 20,905 13,091
Stock-based compensation 62,881 50,279
Noncash lease expense 4,633 4,532
Deferred income taxes (71,153) (81,822)
Unrealized loss (gain) on equity investments 5,571 (28,497)
Amortization (accretion) of investment premiums (discounts) (4,220) 7,033
Changes in operating assets and liabilities:    
Accounts receivable, net 60,221 (131,861)
Inventories (392,997) (43,531)
Prepaid expenses and other current assets (82,278) (107,999)
Other assets 26,361 (640)
Accounts payable 94,564 2,478
Accrued liabilities 58,655 (29,666)
Deferred revenue 51,028 187,194
Income taxes, net 108,200 106,992
Other liabilities (4,361) (2,704)
Net cash provided by operating activities 374,483 217,138
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 824,021 404,176
Proceeds from sale of marketable securities 21,725 0
Purchases of marketable securities (861,612) (412,614)
Purchases of property and equipment (5,631) (14,876)
Business acquisitions, net of cash acquired 0 (37,610)
Investments and notes receivable in privately-held companies (250) (11,691)
Net cash used in investing activities (21,747) (72,615)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 23,096 19,160
Tax withholding paid on behalf of employees for net share settlement (9,224) (12,741)
Repurchases of common stock (82,275) (136,228)
Net cash used in financing activities (68,403) (129,809)
Effect of exchange rate changes 314 (481)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 284,647 14,233
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 675,978 625,050
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 960,625 639,283
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Right-of-use assets obtained in exchange for lease obligations 15,229 6,022
Property and equipment included in accounts payable and accrued liabilities 4,926 2,759
Common stock issued for business acquisition $ 0 $ 4,049