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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 175,418 $ 97,106
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 156,183 135,457
Stock-based compensation 93,260 61,883
(Benefit) provision for deferred income taxes (10,467) 4,925
Amortization of debt issuance costs 1,682 1,098
Gain on investments 0 (174)
Other non-cash reconciling items, net 2,062 21,602
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (736) (25,251)
Prepaid expenses and other current assets (26,016) (26,009)
Accounts payable and accrued expenses (66,949) (97,263)
Deferred revenue 34,316 36,449
Other current liabilities 356 25,834
Other non-current assets and liabilities (7,231) (2,158)
Net cash provided by operating activities 351,878 233,499
Cash flows from investing activities:    
Cash paid for business acquisition, net of cash acquired 0 (20,070)
Purchases of property and equipment (93,751) (141,700)
Capitalization of internal-use software development costs (80,003) (80,545)
Purchases of short- and long-term marketable securities (170,019) (134,191)
Proceeds from sales of short- and long-term marketable securities 15,144 185,249
Proceeds from maturities and redemptions of short- and long-term marketable securities 167,111 91,637
Other, net 9,935 (20,268)
Net cash used in investing activities (151,583) (119,888)
Cash flows from financing activities:    
Proceeds related to the issuance of common stock under stock plans 20,310 21,257
Employee taxes paid related to net share settlement of stock awards (109,333) (29,894)
Repurchases of common stock (125,449) (348,600)
Other, net (1,509) (52)
Net cash used in financing activities (215,981) (357,289)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (4,013) 2,297
Net decrease in cash, cash equivalents and restricted cash (19,699) (241,381)
Cash, cash equivalents and restricted cash at beginning of period 490,470 543,022
Cash, cash equivalents and restricted cash at end of period 470,771 301,641
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net of refunds received of $525 and $225 for the three months ended March 31, 2024 and 2023, respectively 74,940 86,066
Cash paid for interest expense 9,153 2,156
Cash paid for operating lease liabilities 64,795 55,167
Non-cash activities:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 100,167 102,952
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 43,065 101,196
Capitalization of stock-based compensation 26,596 14,611
Reconciliation of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 467,717 298,800
Restricted cash 3,054 2,841
Cash, cash equivalents and restricted cash $ 470,771 $ 301,641