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Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Our cash and cash equivalents balances comprise the following:


	December 31, 2022			December 31, 2021
(in thousands, except percentages)	Amount		% of Total	Amount		% of Total
Cash accounts	$	503,733	82.0	$	580,047	86.9
Money market funds	110,658		18.0	87,620		13.1
Total	$	614,391		$	667,667

The changes in the allowance for doubtful accounts during the years ended December 31, 2022, 2021 and 2020 were as follows:


(in thousands)	2022		2021		2020
Beginning balance – January 1	$	14,600	$	14,000	$	8,700
Additions: Charges to costs and expenses	6,222		1,006		6,438
Deductions: Write-offs	(2,522)		(406)		(1,138)
Ending balance – December 31	$	18,300	$	14,600	$	14,000

The details of basic and diluted EPS are as follows:


	Year Ended December 31,
(in thousands, except per share data)	2022		2021		2020
Net income	$	523,710	$	454,627	$	433,887
Weighted average shares outstanding – basic	87,051		87,100		85,840
Dilutive effect of stock plans	439		1,002		1,448
Weighted average shares outstanding – diluted	87,490		88,102		87,288
Basic earnings per share	$	6.02	$	5.22	$	5.05
Diluted earnings per share	$	5.99	$	5.16	$	4.97
Anti-dilutive shares	300		23		23

The following table outlines concentrations of risk with respect to our revenue:


	Year Ended December 31,
(as a % of revenue)	2022		2021		2020
Revenue from channel partners	24	%	24	%	22	%

The following table outlines concentrations of risk with respect to our cash and cash equivalents:


	As of December 31,
(in thousands)	2022		2021
Cash and cash equivalents held domestically	$	326,784	$	365,390
Cash and cash equivalents held by foreign subsidiaries	287,607		302,277
Cash and cash equivalents held in excess of deposit insurance, foreign and domestic	597,471		652,830
Largest balance of cash and cash equivalents held with one financial institution, foreign and domestic	238,058		201,524