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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income (loss) $ 67,808 $ (345,582) $ (63,040)
Adjustments to reconcile net income (loss) to cash provided by operating activities      
Stock-based compensation 143,352 122,210 115,947
Amortization of deferred commissions 59,461 53,471 41,387
Amortization of intangible assets and depreciation 18,746 18,780 28,593
Lease expense 15,912 15,940 13,277
Foreign currency transaction (loss) gain 5,242 (4,560) 6,459
Loss on capped call transactions 1,348 57,382 23,633
Deferred income taxes 363 168,890 (75,336)
(Gain) on investments (10,841) (6,578) (89)
(Gain) on repurchases of convertible senior notes (7,855) 0 0
Other non-cash 2,255 6,735 7,819
Change in operating assets and liabilities:      
Accounts receivable, unbilled receivables, and contract assets (57,602) (51,157) (11,957)
Other current assets 11,360 (9,133) 17,209
Other current liabilities (8,777) 529 (18,726)
Deferred revenue 45,123 62,578 41,279
Deferred commissions (44,529) (53,857) (71,451)
Other long-term assets and liabilities (23,581) (13,312) (15,886)
Cash provided by operating activities 217,785 22,336 39,118
Investing activities      
Purchases of investments (287,287) (41,015) (79,121)
Proceeds from maturities and called investments 242,593 66,583 105,977
Sales of investments 10,725 23,808 61,096
Payments for acquisitions, net of cash acquired 0 (922) (4,993)
Investment in property and equipment (16,781) (35,379) (10,456)
Cash (used in) provided by investing activities (50,750) 13,075 72,503
Financing activities      
Repurchases of convertible senior notes (88,989) 0 0
Dividend payments to stockholders (9,964) (9,834) (9,761)
Proceeds from employee stock purchase plan 7,744 9,172 10,554
Proceeds from stock option exercises 10,821 0 0
Common stock repurchases for tax withholdings for net settlement of equity awards (1,916) (20,620) (69,925)
Common stock repurchases under stock repurchase program 0 (25,707) (52,711)
Other 341 0 0
Cash (used in) financing activities (81,963) (46,989) (121,843)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 2,701 (3,333) (1,712)
Net increase (decrease) in cash, cash equivalents and restricted cash 87,773 (14,911) (11,934)
Cash, cash equivalents, and restricted cash, beginning of period 145,054 159,965 171,899
Cash, cash equivalents, and restricted cash, end of period 232,827 145,054 159,965
Supplemental disclosures      
Interest paid on convertible notes 4,134 4,500 4,500
Income taxes paid (refunded) 11,664 7,645 (4,552)
Non-cash investing and financing activity:      
Investment in property and equipment included in accounts payable and accrued liabilities 66 9,914 2,143
Dividends payable $ 2,515 $ 2,474 $ 2,454