XML 32 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 2,711,647 $ 1,176,810 $ 2,087,103
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation expense 429,461 360,489 325,047
Depreciation expense 109,515 106,941 72,420
Deferred income taxes (including benefit from valuation allowance release in 2018) 277,341 167,387 (1,512,325)
Gains on equity securities (311,937) (197,597) (2,558)
Increase in fair value of contingent consideration 13,100 4,459 0
Intangible asset impairment charge 0 0 29,000
Other non-cash items, net 78,832 16,942 33,579
Changes in operating assets and liabilities:      
Accounts receivable, net (223,444) (225,587) (108,152)
Inventories (132,014) (64,047) (31,965)
Prepaid expenses and other assets (297,562) 35,440 16,684
Accounts payable 51,276 (22,785) 36,554
Accrued expenses 122,198 172,881 302,755
Other liabilities 425,092 37,997 22,144
Net cash provided by operating activities 3,253,505 1,569,330 1,270,286
Cash flows from investing activities:      
Payments to acquire businesses, net of cash acquired 0 (1,154,212) 0
Purchases of available-for-sale debt securities (431,396) (537,196) (431,918)
Maturities of available-for-sale debt securities 372,342 475,924 431,576
Sale of equity securities 437,567 94,936 0
Purchases of property and equipment (259,798) (75,451) (95,449)
Investment in equity securities (19,327) (39,319) (83,471)
Investment in note receivable 0 0 (15,000)
Decrease in restricted cash due to deconsolidation of VIE     (7,896)
Net cash provided by (used in) investing activities 99,388 (1,235,318) (202,158)
Cash flows from financing activities:      
Issuances of common stock under benefit plans 264,946 343,244 289,293
Repurchases of common stock (539,136) (186,020) (350,043)
Payments in connection with common stock withheld for employee tax obligations (200,271) (5,995) 0
Payments on finance leases [1] (42,275) (39,185) (33,388)
Proceeds from finance leases [1] 13,251 10,046 20,840
Other financing activities (1,796) 4,683 2,079
Net cash (used in) provided by financing activities (505,281) 126,773 (71,219)
Effect of changes in exchange rates on cash 20,552 1,643 (6,182)
Net increase in cash, cash equivalents and restricted cash 2,868,164 462,428 990,727
Cash, cash equivalents and restricted cash—beginning of period 3,120,681 2,658,253 1,667,526
Cash, cash equivalents and restricted cash—end of period 5,988,845 3,120,681 2,658,253
Supplemental disclosure of cash flow information:      
Cash paid for interest 54,520 55,554 66,458
Cash paid for income taxes 191,776 24,730 12,402
Capitalization of costs related to construction financing lease obligation [1] 0 0 3,389
Issuances of common stock from employee benefit plans receivable $ 642 $ 2,820 $ 86
[1] * For the year ended December 31, 2018, amounts are related to the Company’s capital leases and construction financing lease obligations pursuant to ASC 840, Leases, which was applicable until December 31, 2018.