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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,056,161 $ 937,858
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,716 45,879
Gain on disposal of property and equipment (984) (210)
Impairment of intangibles   7,000
Stock-based compensation 52,391 53,042
Deferred income taxes 353  
Effect on cash of changes in operating assets and liabilities:    
Accounts receivable (199,709) (201,677)
Distributor receivables 228 341
Inventories (149,414) 39,490
Prepaid expenses and other assets (41,162) (20,446)
Prepaid income taxes (7,365) 11,460
Accounts payable 106,570 (9,724)
Accrued liabilities 34,085 53,501
Accrued promotional allowances 51,022 31,915
Accrued distributor terminations 5,302 (150)
Accrued compensation (2,888) (1,214)
Income taxes payable (114) 17,969
Other liabilities 574 (562)
Deferred revenue (17,784) (15,236)
Net cash provided by operating activities 927,982 949,236
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of available-for-sale investments 1,016,556 795,858
Purchases of available-for-sale investments (1,343,351) (849,276)
Purchases of property and equipment (28,131) (42,062)
Proceeds from sale of property and equipment 1,246 880
Additions to intangibles (5,211) (19,686)
Increase in other assets (22,809) (26,228)
Net cash used in investing activities (381,700) (140,514)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on debt (1,814) (2,500)
Issuance of common stock 37,160 65,540
Purchases of common stock held in treasury (13,818) (595,918)
Net cash provided by (used in) financing activities 21,528 (532,878)
Effect of exchange rate changes on cash and cash equivalents (35,552) 929
NET INCREASE IN CASH AND CASH EQUIVALENTS 532,258 276,773
CASH AND CASH EQUIVALENTS, beginning of period 1,180,413 797,957
CASH AND CASH EQUIVALENTS, end of period 1,712,671 1,074,730
Cash paid during the period for:    
Interest 99 39
Income taxes $ 338,584 $ 257,563