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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 937,858 $ 852,881
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,879 47,843
Gain on disposal of property and equipment (210) (7)
Impairment of intangibles 7,000  
Stock-based compensation 53,042 46,890
Deferred income taxes   540
Effect on cash of changes in operating assets and liabilities:    
Accounts receivable (201,677) (179,838)
Distributor receivables 341 5,813
Inventories 39,490 (44,947)
Prepaid expenses and other assets (20,446) (16,121)
Prepaid income taxes 11,460 6,174
Accounts payable (9,724) 69,480
Accrued liabilities 53,501 (9,592)
Accrued promotional allowances 31,915 55,799
Accrued distributor terminations (150) 6
Accrued compensation (1,214) (3,901)
Income taxes payable 17,969 10,311
Other liabilities (562) (631)
Deferred revenue (15,236) (19,631)
Net cash provided by operating activities 949,236 821,069
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of available-for-sale investments 795,858 558,128
Purchases of available-for-sale investments (849,276) (835,964)
Purchases of property and equipment (42,062) (44,392)
Proceeds from sale of property and equipment 880 810
Additions to intangibles (19,686) (5,478)
Increase in other assets (26,228) (1,289)
Net cash used in investing activities (140,514) (328,185)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on debt (2,500) (12,841)
Issuance of common stock 65,540 85,245
Purchases of common stock held in treasury (595,918) (477,721)
Net cash used in financing activities (532,878) (405,317)
Effect of exchange rate changes on cash and cash equivalents 929 (7,463)
NET INCREASE IN CASH AND CASH EQUIVALENTS 276,773 80,104
CASH AND CASH EQUIVALENTS, beginning of period 797,957 637,513
CASH AND CASH EQUIVALENTS, end of period 1,074,730 717,617
Cash paid during the period for:    
Interest 39 306
Income taxes $ 257,563 $ 226,883