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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating activities        
Net (loss) income $ (286,296) $ 37,291 $ (286,675) $ 30,674
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities        
Stock-based compensation 31,300 30,688 59,527 60,788
Deferred income taxes     169,105 (28,232)
Loss (gain) on capped call transactions 18,945 (26,309) 49,505 (7,192)
Amortization of deferred commissions 10,934 9,706 28,155 21,202
Lease expense     7,832 5,792
Amortization of intangible assets and depreciation     8,175 15,504
Foreign currency transaction (gain) loss (1,713) 403 (4,589) 5,501
Other non-cash     (3,479) 3,543
Change in operating assets and liabilities, net     (32,625) (88,170)
Cash (used in) provided by operating activities     (5,069) 19,410
Investing activities        
Purchases of investments     (38,489) (51,601)
Proceeds from maturities and called investments     34,912 68,798
Sales of investments     14,839 2,450
Payments for acquisitions, net of cash acquired     (922) (4,993)
Investment in property and equipment     (11,863) (4,161)
Cash (used in) provided by investing activities     (1,523) 10,493
Financing activities        
Proceeds from employee stock purchase plan     4,803 5,146
Dividend payments to stockholders     (4,908) (4,865)
Common stock repurchases     (41,086) (60,998)
Cash (used in) financing activities     (41,191) (60,717)
Effect of exchange rate changes on cash and cash equivalents     (2,907) (1,207)
Net (decrease) in cash and cash equivalents     (50,690) (32,021)
Cash and cash equivalents, beginning of period     159,965 171,899
Cash and cash equivalents, end of period $ 109,275 $ 139,878 $ 109,275 $ 139,878