XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 576,419 $ 236,183
Adjustments to reconcile net income to operating activities:    
Amortization, depreciation and write-offs 79,887 112,667
Goodwill impairment 188,943 0
Stock-based compensation, excluding cash-settled awards 61,281 95,253
Other 8,086 8,540
Changes in operating assets and liabilities:    
Accounts receivable (167,382) (84,836)
Prepaid expenses and other assets (51,861) 26,813
Accounts payable 32,545 18,056
Accrued and other liabilities 103,794 (19,897)
Net cash provided by operating activities 831,712 392,779
Investing Activities    
Purchase of non-marketable equity securities (18,678) (28,333)
Other investing activities (3,986) (3,302)
Net cash used in investing activities (22,664) (31,635)
Financing Activities    
Repurchases of common stock (1,000,911) (752,224)
Principal repayments of debt 0 (668,972)
Payment of withholding taxes related to net share settlement (185,667) (80,144)
Payments of licensed asset obligation (13,532) 0
Proceeds from issuance of debt 200,000 1,072,330
Proceeds from exercise of stock options 5,329 9,782
Other financing activities (7,436) (5,384)
Net cash used in financing activities (1,002,217) (424,612)
Effect of foreign exchange rate on cash and cash equivalents 2,782 (2,348)
Net decrease in cash and cash equivalents (190,387) (65,816)
Cash and cash equivalents at beginning of the period 741,411 502,152
Cash and cash equivalents at end of the period 551,024 436,336
Supplemental non-cash investing and financing activities disclosures:    
Acquisitions not yet paid 20,368 13,088
Right-of-use assets acquired in exchange for lease obligations 3,967 10,232
Supplemental disclosure of cash flow information:    
Cash paid for interest, net 2,392 71,189
Cash paid for income taxes, net of refunds $ 5,597 $ 3,578