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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 2,087,321 $ 1,352,446 $ 840,854
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other 70,630 62,700 50,334
Noncash lease expense 18,236 18,648 17,112
Stock-based compensation 296,756 230,934 186,875
Deferred income taxes (370,796) (244,382) (99,290)
Gain on strategic investments (18,699) (27,479) 0
Amortization (accretion) of investment premiums (discount) (33,518) 12,767 26,847
Changes in operating assets and liabilities:      
Accounts receivable, net (101,473) (401,531) (126,969)
Inventories (655,474) (638,948) (170,449)
Other assets (66,401) (117,465) (130,222)
Accounts payable 198,612 31,436 66,681
Other liabilities 123,694 70,704 78,187
Deferred revenue 464,958 98,957 278,485
Income taxes, net 20,168 44,026 (2,589)
Net cash provided by operating activities 2,034,014 492,813 1,015,856
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from maturities of marketable securities 1,887,939 1,643,824 1,455,465
Proceeds from sale of marketable securities 67,284 193,782 19,607
Purchases of marketable securities (2,606,878) (1,418,857) (2,317,264)
Purchases of property, equipment and intangible assets (34,434) (44,644) (64,736)
Cash paid for business combination, net of cash acquired 1,799 (145,087) 1,299
Investment in notes and privately-held companies (3,164) (12,691) (19,933)
Net cash provided by (used in) investing activities (687,454) 216,327 (925,562)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock under equity plans 62,093 48,411 67,245
Tax withholding paid on behalf of employees for net share settlement (33,563) (32,725) (16,482)
Repurchase of common stock (112,279) (670,287) (411,645)
Net cash used in financing activities (83,749) (654,601) (360,882)
Effect of exchange rate changes 675 (3,611) (1,816)
NET INCREASE/(DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,263,486 50,928 (272,404)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 675,978 625,050 897,454
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 1,939,464 675,978 625,050
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for income taxes, net of refunds 686,155 427,846 189,774
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:      
Right-of-use assets obtained in exchange for new operating lease liabilities 20,567 7,300 5,005
Common stock issued for business acquisition $ 2,331 $ 4,049 $ 0