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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 86,109 $ 143,766
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 49,271 20,351
Depreciation and amortization expense 24,754 13,080
Provision for expected credit losses 3,109 4,601
Foreign exchange gain (5,567) (4,395)
Deferred benefit for income taxes (10,517) (3,068)
Other non-cash expense, net 3,321 1,455
Changes in operating assets and liabilities:    
Current assets 32,195 (11,580)
Non-current assets 1,711 1,231
Current liabilities (126,048) (16,597)
Non-current liabilities 1,206 (379)
Net cash provided by operating activities 59,544 148,465
Cash flows from investing activities    
Purchases of property and equipment (3,212) (526)
Development of internal-use software (6,005) (3,226)
Purchases of marketable securities (76,416) (268,972)
Sales and maturities of marketable securities 75,478 91,714
Net cash used in investing activities (10,155) (181,010)
Cash flows from financing activities    
Payment of tax obligations on vested equity awards (12,288) (14,802)
Repurchase of stock (62,568) 0
Proceeds from exercise of stock options 3,394 3,930
Payment of debt issuance costs (25) (25)
Settlement of convertible senior notes (5) (27,319)
Payments on finance lease obligations (1,598) (2,421)
Other financing, net 807 1,259
Net cash used in financing activities (72,283) (39,378)
Effect of exchange rate changes on cash (1,065) (8,498)
Net decrease in cash, cash equivalents, and restricted cash (23,959) (80,421)
Cash, cash equivalents, and restricted cash at beginning of period 785,537 1,249,440
Cash, cash equivalents, and restricted cash at end of period 761,578 1,169,019
Supplemental non-cash disclosures:    
Deferred consideration 3,822 0
Stock-based compensation capitalized in development of capitalized software and asset additions in exchange for liabilities 3,961 954
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 756,237 1,163,678
Restricted cash 5,341 5,341
Total cash, cash equivalents, and restricted cash $ 761,578 $ 1,169,019