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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 2,852,054 $ 2,087,321 $ 1,352,446
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 62,038 70,630 62,700
Stock-based compensation 355,364 296,756 230,934
Deferred income taxes (492,874) (370,796) (244,382)
Amortization (accretion) of investment premiums (discount) (60,468) (33,518) 12,767
Other 6,939 (463) (8,831)
Changes in operating assets and liabilities:      
Accounts receivable, net (106,080) (105,927) (401,950)
Inventories 110,608 (655,474) (638,948)
Other assets (234,242) (66,401) (117,465)
Accounts payable (51,635) 198,612 31,436
Other liabilities 47,823 128,148 71,123
Deferred revenue 1,285,211 464,958 98,957
Income taxes, net (66,503) 20,168 44,026
Net cash provided by operating activities 3,708,235 2,034,014 492,813
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from maturities of marketable securities 2,058,588 1,887,939 1,643,824
Proceeds from sale of marketable securities 48,845 67,284 193,782
Purchases of marketable securities (4,526,127) (2,606,878) (1,418,857)
Purchases of property, equipment and intangible assets (32,032) (34,434) (44,644)
Cash paid for business combination, net of cash acquired 0 1,799 (145,087)
Other Investing activities (6,628) (3,164) (12,691)
Net cash provided by (used in) investing activities (2,457,354) (687,454) 216,327
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock under equity plans 60,181 62,093 48,411
Tax withholding paid on behalf of employees for net share settlement (58,372) (33,563) (32,725)
Repurchase of common stock (423,619) (112,279) (670,287)
Net cash used in financing activities (421,810) (83,749) (654,601)
Effect of exchange rate changes (4,767) 675 (3,611)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 824,304 1,263,486 50,928
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 1,939,464 675,978 625,050
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 2,763,768 1,939,464 675,978
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for income taxes, net of refunds $ 970,639 $ 686,155 $ 427,846