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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,303,120 $ 928,358
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 31,112 39,227
Stock-based compensation 156,507 130,008
Noncash lease expense 9,292 9,154
Deferred income taxes (228,460) (130,287)
Gain on strategic investments 0 (19,172)
Amortization (accretion) of investment premiums (discounts) (27,843) (11,998)
Changes in operating assets and liabilities:    
Accounts receivable, net (202,226) 143,370
Inventories 91,404 (574,628)
Other assets (92,577) (120,864)
Accounts payable (136,236) 114,905
Accrued liabilities (87,063) 70,418
Deferred revenue 612,582 43,658
Income taxes, net 74,067 198,100
Other liabilities (863) (11,676)
Net cash provided by operating activities 1,502,816 808,573
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 952,572 1,265,305
Proceeds from sale of marketable securities 36,750 21,725
Purchases of marketable securities (1,749,308) (1,392,020)
Purchases of property and equipment (12,555) (17,212)
Cash paid for business combinations, net of cash acquired 0 1,799
Investments in notes and privately-held companies (1,000) (4,250)
Net cash used in investing activities (773,541) (124,653)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 34,517 30,410
Tax withholding paid on behalf of employees for net share settlement (35,999) (15,766)
Repurchases of common stock (234,666) (112,279)
Net cash used in financing activities (236,148) (97,635)
Effect of exchange rate changes (2,692) 429
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 490,435 586,714
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 1,939,464 675,978
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 2,429,899 1,262,692
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Right-of-use assets obtained in exchange for lease obligations 1,665 17,010
Property and equipment included in accounts payable and accrued liabilities 4,391 5,653
Common stock issued for business acquisition $ 0 $ 2,331