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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 390,982 $ 120,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,581 25,382
Stock-based compensation 409,840 343,295
Noncash operating lease expense 32,041 34,810
Unrealized and realized (gain) loss from marketable securities, net 26,021 11,810
Noncash consideration (34,789) (34,852)
Other operating activities 19,115 (13,328)
Changes in operating assets and liabilities:    
Accounts receivable, net (311,699) (159,752)
Prepaid expenses and other current assets (19,547) (75)
Other assets 4,056 1,941
Accounts payable 7,710 (32,387)
Accrued liabilities 42,149 2,552
Deferred revenue, current and noncurrent (27,117) 64,464
Customer deposits, current and noncurrent 159,457 84,272
Operating lease liabilities, current and noncurrent (35,205) (37,767)
Other noncurrent liabilities 5,943 184
Net cash provided by operating activities 693,538 411,011
Investing activities    
Purchases of property and equipment (9,528) (10,254)
Purchases of marketable securities (3,418,699) (4,791,670)
Proceeds from sales and redemption of marketable securities 2,451,378 2,608,898
Proceeds from sales of alternative investments 0 51,072
Other investing activities 4,000 0
Net cash used in investing activities (980,849) (2,141,954)
Financing activities    
Proceeds from the exercise of common stock options 270,207 166,829
Repurchases of common stock 45,598 0
Other financing activities 91 778
Net cash provided by financing activities 224,700 167,607
Effect of foreign exchange on cash, cash equivalents, and restricted cash 960 (2,113)
Net decrease in cash, cash equivalents, and restricted cash (61,651) (1,565,449)
Cash, cash equivalents, and restricted cash - beginning of period 850,107 2,627,335
Cash, cash equivalents, and restricted cash - end of period $ 788,456 $ 1,061,886