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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 $ 582,073 $ 407,173
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 76,901 71,437
Impairment charge 5,148 1,993
Provision for credit losses 1,719 5,235
Deferred income taxes 4,049 (3,363)
Share-based compensation expense 28,042 23,008
Other 2,402 488
Changes in assets and liabilities:    
Accounts receivable (49,050) (72,409)
Inventories (46,891) (25,091)
Other assets and liabilities (51,961) 30,579
Accounts payable 637 512
Deferred revenue (7,487) (10,433)
Net cash provided by operating activities 545,582 429,129
Cash Flows from Investing Activities:    
Purchases of property and equipment (87,761) (92,768)
Acquisition of intangible assets and equity investments 0 (918)
Acquisitions of a business, net of cash acquired (161,166) 0
Net cash used by investing activities (248,927) (93,686)
Cash Flows from Financing Activities:    
Repayments on revolving credit facilities, net 0 (289,625)
Issuance of senior debt 0 200,000
Payment of senior debt (50,000) 0
Debt issuance costs 0 (4,995)
Payments of acquisition-related contingent considerations and holdbacks (1,500) (1,580)
Repurchases of common stock, net (502,021) (182,815)
Proceeds from exercises of stock options and employee stock purchase plans 37,428 39,230
Shares withheld for statutory tax withholding payments on restricted stock (15,501) (9,029)
Net cash used by financing activities (531,594) (248,814)
Net effect of changes in exchange rates on cash (3,786) (1,368)
Net (decrease) increase in cash and cash equivalents (238,725) 85,261
Cash and cash equivalents at beginning of period 383,928 90,326
Cash and cash equivalents at end of period 145,203 175,587
Supplemental Cash Flow Information:    
Cash paid for income taxes 96,103 79,909
Unpaid property and equipment, reflected in accounts payable and accrued liabilities $ 14,734 $ 7,708