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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 225,922 $ 271,216
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 274,582 293,199
Stock-based compensation 149,327 108,109
Provision (benefit) for deferred income taxes 409 (75,980)
Amortization of debt issuance costs 2,196 2,210
(Gain) loss on investments (201) 15,895
Other non-cash reconciling items, net 38,654 22,643
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (22,778) (3,947)
Prepaid expenses and other current assets (18,097) (38,132)
Accounts payable and accrued expenses (83,785) (59,975)
Deferred revenue 37,051 26,178
Other current liabilities 16,145 (5,901)
Other non-current assets and liabilities (19,615) 8,367
Net cash provided by operating activities 599,810 563,882
Cash flows from investing activities:    
Cash paid for acquisitions, net of cash acquired (106,326) (872,099)
Purchases of property and equipment (254,005) (125,220)
Capitalization of internal-use software development costs (144,529) (124,306)
Purchases of short- and long-term marketable securities (134,821) 0
Proceeds from sales of short- and long-term marketable securities 200,568 573,274
Proceeds from maturities and redemptions of short- and long-term marketable securities 91,637 120,433
Other, net (20,766) (4,206)
Net cash used in investing activities (368,242) (432,124)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 90,000 125,000
Repayment of borrowings under revolving credit facility (70,000) (50,000)
Proceeds related to the issuance of common stock under stock plans 31,331 29,145
Employee taxes paid related to net share settlement of stock-based awards (39,606) (63,142)
Repurchases of common stock (485,958) (267,642)
Other, net (256) (104)
Net cash used in financing activities (474,489) (226,743)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (710) (15,260)
Net decrease in cash, cash equivalents and restricted cash (243,631) (110,245)
Cash, cash equivalents and restricted cash at beginning of period 543,022 537,751
Cash, cash equivalents and restricted cash at end of period 299,391 427,506
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net of refunds received of $691 and $2,061 for the six months ended June 30, 2023 and 2022, respectively 100,017 113,082
Cash paid for interest expense 3,349 2,875
Cash paid for operating lease liabilities 113,698 111,601
Non-cash activities:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 196,338 78,189
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 104,215 39,075
Capitalization of stock-based compensation 36,505 16,180
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 298,612 426,710
Restricted cash 779 796
Cash, cash equivalents and restricted cash $ 299,391 $ 427,506