XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 40,498 $ 418,017
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,724 53,867
Net accretion of discount on marketable securities (1,109) (12,611)
Provision for doubtful accounts 4,471 1,282
Asset impairment 24,141 903
Non-cash interest expense 6,462 6,254
Net loss (gain) from change in fair value of debt securities 1,730 (5,408)
Stock-based compensation 159,530 157,635
Deferred income taxes (27,644) (38,295)
Changes in operating assets and liabilities:    
Accounts receivable 208,956 (118,249)
Inventory 54,758 (24,406)
Prepaid expenses and other assets (117,856) (57,376)
Accounts payable, accrued and other liabilities (58,140) 117,128
Warranty obligations (4,855) 57,420
Deferred revenues (5,265) 105,169
Net cash provided by operating activities 346,401 661,330
Cash flows from investing activities:    
Purchases of property and equipment (25,540) (90,326)
Investments in private companies 0 (15,000)
Purchases of marketable securities (1,091,511) (1,743,674)
Maturities and sale of marketable securities 994,677 1,406,608
Net cash used in investing activities (122,374) (442,392)
Cash flows from financing activities:    
Partial settlement of convertible notes (7) 0
Proceeds from issuance of common stock under employee equity plans 7,969 1,315
Payment of withholding taxes related to net share settlement of equity awards (73,801) (93,100)
Repurchase of common stock (191,698) (310,000)
Net cash used in financing activities (257,537) (401,785)
Effect of exchange rate changes on cash and cash equivalents 1,087 (322)
Net decrease in cash and cash equivalents (32,423) (183,169)
Cash and cash equivalents—Beginning of period 288,748 473,244
Cash and cash equivalents—End of period 256,325 290,075
Supplemental disclosures of non-cash investing activities:    
Purchases of property and equipment included in accounts payable $ 5,722 $ 16,183