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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,051,058 $ 1,473,685
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46,650 56,233
Stock-based compensation 254,630 215,398
Deferred income taxes (376,726) (217,489)
Amortization (accretion) of investment premiums (discounts) (44,609) (22,389)
Other 1,921 (5,084)
Changes in operating assets and liabilities:    
Accounts receivable, net (96,499) 84,379
Inventories 175,218 (603,832)
Other assets (173,119) (118,622)
Accounts payable (142,005) 33,740
Accrued liabilities (84,565) 117,481
Deferred revenue 1,001,127 153,505
Income taxes, net 59,763 346,170
Other liabilities 4,428 (5,625)
Net cash provided by operating activities 2,677,272 1,507,550
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of marketable securities 1,427,348 1,564,950
Proceeds from sales of marketable securities 44,865 49,584
Purchases of marketable securities (2,593,418) (1,934,156)
Purchases of property and equipment (19,580) (28,424)
Other investing activities (6,628) (2,451)
Net cash used in investing activities (1,147,413) (350,497)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock under equity plans 55,501 53,797
Tax withholding paid on behalf of employees for net share settlement (47,452) (23,939)
Repurchases of common stock (299,823) (112,279)
Net cash used in financing activities (291,774) (82,421)
Effect of exchange rate changes (1,011) (934)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,237,074 1,073,698
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 1,939,464 675,978
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period $ 3,176,538 $ 1,749,676