XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES:    
Net income (loss) $ (14,598) $ 22,642
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 12,350 10,011
Stock-based compensation 124,895 52,354
Allowance for credit losses on accounts receivable 725 203
Noncash lease expense 10,515 9,451
Deferred income taxes (5,304)  
Other 998 4,905
Changes in operating assets and liabilities:    
Accounts receivable 259,483 208,847
Prepaid expenses and other assets 23,743 (16,180)
Accounts payable (245,937) (200,578)
Accrued expenses and other liabilities (8,688) (5,691)
Operating lease liabilities (11,990) (10,894)
Net cash provided by operating activities 146,192 75,070
INVESTING ACTIVITIES:    
Purchases of investments (121,221) (89,354)
Sales of investments   4,539
Maturities of investments 64,133 62,670
Purchases of property and equipment (8,401) (13,120)
Capitalized software development costs (1,614) (1,062)
Net cash used in investing activities (67,103) (36,327)
FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 24,408 12,621
Taxes paid related to net settlement of restricted stock awards (13,428) (17,080)
Net cash provided by (used in) financing activities 10,980 (4,459)
Increase in cash and cash equivalents 90,069 34,284
Cash and cash equivalents—Beginning of period 754,154 437,353
Cash and cash equivalents—End of period 844,223 471,637
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for operating lease liabilities 14,030 15,107
Asset retirement obligation   625
Operating lease assets obtained in exchange for operating lease liabilities 4,732 (937)
Capitalized assets financed by accounts payable 1,837 2,421
Stock-based compensation included in capitalized software development costs $ 520 $ 631