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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 119,163 $ 155,695
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 142,595 131,471
Stock-based compensation 56,227 54,305
(Benefit) provision for deferred income taxes (13,579) 1,764
Amortization of debt discount and issuance costs 1,119 16,257
Loss on investments 16,536 698
Other non-cash reconciling items, net 12,598 528
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (39,198) (15,580)
Prepaid expenses and other current assets (64,695) (35,388)
Accounts payable and accrued expenses (66,938) (72,986)
Deferred revenue 55,394 25,439
Other current liabilities (1,441) (716)
Other non-current assets and liabilities 4,670 (11,694)
Net cash provided by operating activities 222,451 249,793
Cash flows from investing activities:    
Cash paid for acquisitions, net of cash acquired (872,099) (15,638)
Purchases of property and equipment (51,005) (87,222)
Capitalization of internal-use software development costs (80,354) (77,497)
Purchases of short- and long-term marketable securities 0 (90,279)
Proceeds from sales of short- and long-term marketable securities 571,369 7,154
Proceeds from maturities and redemptions of short- and long-term marketable securities 120,433 226,995
Other, net (5,242) 179
Net cash used in investing activities (316,898) (36,308)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 75,000 0
Proceeds related to the issuance of common stock under stock plans 21,941 21,410
Employee taxes paid related to net share settlement of stock-based awards (54,819) (63,946)
Repurchases of common stock (102,853) (58,241)
Other, net (104) 0
Net cash used in financing activities (60,835) (100,777)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (1,462) (7,151)
Net (decrease) increase in cash, cash equivalents and restricted cash (156,744) 105,557
Cash, cash equivalents and restricted cash at beginning of period 537,751 353,466
Cash, cash equivalents and restricted cash at end of period 381,007 459,023
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds received of $1,025 and $1,846 for the three months ended March 31, 2022 and 2021, respectively 50,533 17,736
Cash paid for interest expense 2,156 2,156
Cash paid for operating lease liabilities 54,285 63,673
Non-cash activities:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 38,582 82,125
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 48,326 60,193
Capitalization of stock-based compensation 7,803 9,459
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 377,811 456,799
Restricted cash 3,196 2,224
Cash, cash equivalents and restricted cash $ 381,007 $ 459,023