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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 980,572 $ 184,478
Adjustments to reconcile net income to operating activities:    
Amortization, depreciation and write-offs 320,843 369,897
Stock-based compensation 275,534 275,058
Other 17,229 21,826
Changes in operating assets and liabilities:    
Accounts receivable (237,530) (146,796)
Prepaid expenses and other assets 33,199 (29,484)
Accounts payable 55,575 7,955
Accrued and other liabilities (47,414) 34,588
Net cash provided by operating activities 1,398,008 717,522
Investing Activities    
Purchase of non-marketable equity securities (76,983) (16,934)
Acquisition of intangible assets (18,289) (51,816)
Other investing activities (11,115) (2,275)
Net cash used in investing activities (106,387) (71,025)
Financing Activities    
Repurchases of stock (980,672) (1,153,593)
Principal repayments of debt (686,754) (490,494)
Payment of withholding taxes related to net share settlement of equity awards (644,442) (115,846)
Payments of licensed asset obligation 0 (15,254)
Proceeds from issuance of debt 1,072,330 395,281
Proceeds from issuance of common stock upon exercise of stock options and purchase of ESPP shares 28,800 19,878
Other financing activities (15,949) (32,239)
Net cash used in financing activities (1,226,687) (1,392,267)
Effect of foreign exchange rate on cash and cash equivalents 510 (2,223)
Net increase (decrease) in cash and cash equivalents 65,444 (747,993)
Cash and cash equivalents at beginning of the period 502,152 1,080,484
Cash and cash equivalents at end of the period 567,596 332,491
Supplemental non-cash investing and financing activities disclosures:    
Right-of-use assets acquired in exchange for lease obligations 24,527 45,242
Supplemental disclosure of cash flow information:    
Cash paid for interest, net 220,140 184,600
Cash paid for income taxes, net of refunds $ 61,825 $ 12,749