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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 32,615 $ 597,599 $ 340,660
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 89,248 82,660 67,855
Stock-based compensation 266,058 215,889 188,420
Deferred income taxes (85,553) (158,898) 57,091
Other, net (9,053) 22,579 17,366
Realized and unrealized (gain) loss on equity investments (116,025) (43,893) 87,590
Loss on change in fair value of acquisition-related contingent consideration 19,803 29,202 12,149
Changes in operating assets and liabilities:      
Accounts receivable (111,586) (98,678) (28,579)
Prepaid expenses and other assets 10,365 (42,491) (30,739)
Inventory (127,633) (170,151) (67,504)
Accounts payable 88,159 (167,945) 105,436
Accrued and other liabilities 278,939 230,614 220,196
Net cash provided by operating activities 335,337 496,487 969,941
Cash flows from investing activities:      
Purchase of long term investments 0 (10,000) 0
Sale of equity investments 284,781 45 0
Capital expenditures (86,263) (32,486) (77,833)
Payments for intangible assets (13,900) (15,000) 0
Purchases of marketable securities (258,370) (456,020) (79,860)
Sale and maturities of marketable securities 231,269 305,784 79,151
Net cash provided by (used in) investing activities 157,517 (207,677) (78,542)
Cash flows from financing activities:      
Repurchase of common stock (2,004,790) 0 0
Proceeds from issuance of common stock under stock plans 49,301 35,836 61,115
Tax withholdings related to restricted and performance share vesting (40,302) (28,550) (26,301)
Payment of finance lease liabilities (3,798) (3,360) (2,862)
Payment of contingent consideration (21,958) (23,959) (32,746)
Net cash used in financing activities (2,021,547) (20,033) (794)
Effect of exchange rates on cash, cash equivalents, and restricted cash 2,923 (6,676) 3,355
Net (decrease) increase in cash, cash equivalents, and restricted cash (1,525,770) 262,101 893,960
Cash, cash equivalents, and restricted cash at beginning of period 3,215,221 2,953,120 2,059,160
Cash, cash equivalents, and restricted cash at end of period 1,689,451 3,215,221 2,953,120
Supplemental Schedule of Cash Flow Information      
Income taxes paid 373,056 378,206 136,242
Unpaid purchases of property and equipment 2,597 5,052 3,493
Unpaid excise tax on repurchase of common stock 19,185 0 0
Leased assets obtained in exchange for new operating lease liabilities 9,674 5,275 6,745
Leased assets obtained in exchange for new finance lease liabilities $ 8,906 $ 2,257 $ 1,862