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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 536,666 $ 438,877
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,835 62,097
Impairment charge 0 250
Provision for credit losses 4,360 3,743
Deferred income taxes 6,427 (22,021)
Share-based compensation expense 29,469 30,119
Other 1,491 967
Changes in assets and liabilities:    
Accounts receivable (74,889) (82,981)
Inventories (4,081) (6,213)
Other assets and liabilities (139,906) 18,783
Accounts payable (12,113) 3,802
Deferred revenue 6,446 (526)
Net cash provided by operating activities 423,705 446,897
Cash Flows from Investing Activities:    
Purchases of property and equipment (64,128) (63,578)
Acquisition of a business 0 (77,000)
Proceeds from net investment hedges 890 727
Net cash used by investing activities (63,238) (139,851)
Cash Flows from Financing Activities:    
Borrowings under credit facility, net 329,000 0
Payments of senior notes (103,386) 0
Repurchases of common stock (738,995) (370,285)
Proceeds from exercises of stock options and employee stock purchase plans 24,523 26,241
Shares withheld for statutory tax withholding payments on restricted stock (7,094) (10,268)
Net cash used by financing activities (495,952) (354,312)
Net effect of changes in exchange rates on cash 11,813 (5,076)
Net decrease in cash and cash equivalents (123,672) (52,342)
Cash and cash equivalents at beginning of period 288,266 453,932
Cash and cash equivalents at end of period 164,594 401,590
Supplemental Cash Flow Information:    
Unpaid property and equipment, reflected in accounts payable and accrued liabilities $ 8,460 $ 8,322