XML 23 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:      
Net income $ 523,672 $ 651,642 $ 557,054
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 592,754 550,632 478,389
Stock-based compensation 217,185 202,759 197,411
Benefit for deferred income taxes (104,971) (47,794) (33,821)
Amortization of debt discount and issuance costs 4,395 66,025 62,823
Loss on investments 15,895 10,328 5,878
Other non-cash reconciling items, net 31,063 11,495 17,149
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable (21,214) (24,096) (90,381)
Prepaid expenses and other current assets (20,125) 4,034 (25,395)
Accounts payable and accrued expenses (26,499) 31,523 39,211
Deferred revenue 16,713 (2,865) (1,318)
Other current liabilities (5,318) (20,404) 18,101
Other non-current assets and liabilities 51,126 (28,716) (10,101)
Net cash provided by operating activities 1,274,676 1,404,563 1,215,000
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash acquired (872,091) (598,825) (127,999)
Cash paid for asset acquisition 0 0 (36,376)
Purchases of property and equipment (241,266) (328,969) (514,313)
Capitalization of internal-use software development costs (217,036) (216,261) (217,559)
Purchases of short-and long-term marketable securities (17,975) (932,604) (1,782,849)
Proceeds from sales of short-and long-term marketable securities 575,522 442,133 30,350
Proceeds from maturities and redemptions of short-and long-term marketable securities 156,658 991,949 1,597,651
Other, net (6,122) (4,322) 8,121
Net cash used in investing activities (622,310) (646,899) (1,042,974)
Cash flows from financing activities:      
Proceeds from the issuance of common stock under stock plans 56,462 59,632 59,775
Employee taxes paid related to net share settlement of stock-based awards (82,236) (99,112) (89,828)
Repurchases of common stock (608,010) (522,255) (193,588)
Other, net (393) (268) 0
Net cash used in financing activities (634,177) (562,003) (223,641)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (12,918) (11,376) 10,935
Net increase (decrease) in cash, cash equivalents and restricted cash 5,271 184,285 (40,680)
Cash, cash equivalents and restricted cash at beginning of year 537,751 353,466 394,146
Cash, cash equivalents and restricted cash at end of year 543,022 537,751 353,466
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds received in the years ended December 31, 2022, 2021 and 2020 of $15,458, $14,808 and $17,491, respectively 183,900 100,533 79,163
Cash paid for interest expense 6,158 5,750 5,954
Cash paid for operating lease liabilities 224,898 224,085 201,856
Non-cash activities:      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 202,409 218,753 200,735
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 80,170 63,309 75,666
Capitalization of stock-based compensation 33,060 36,545 38,333
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 542,337 536,725 352,917
Restricted cash 685 1,026 549
Cash, cash equivalents and restricted cash $ 543,022 $ 537,751 $ 353,466