XML 20 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
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 $ 442,049 $ 397,444
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,475 16,808
Non-cash lease expense 3,185 2,160
Gain on disposal of property and equipment (177) (385)
Stock-based compensation 22,472 16,051
Deferred income taxes 9 0
Effect on cash of changes in operating assets and liabilities:    
Accounts receivable (195,081) (167,512)
Inventories 22,708 35,495
Prepaid expenses and other assets (9,507) 1,273
Prepaid income taxes 11,840 3,986
Accounts payable (9,062) 51,124
Accrued liabilities 28,259 14,207
Accrued promotional allowances 52,814 48,265
Accrued compensation (35,653) (30,261)
Income taxes payable 60,512 41,617
Other liabilities 335 (751)
Deferred revenue (3,036) (5,046)
Net cash provided by operating activities 412,142 424,475
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of available-for-sale investments 382,125 522,501
Purchases of available-for-sale investments (342,228) (518,751)
Purchases of property and equipment (66,044) (40,100)
Proceeds from sale of property and equipment 422 564
Additions to intangibles (8,612) (3,952)
Increase in other assets (985) (13,028)
Net cash used in investing activities (35,322) (52,766)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on debt (2,896) (7,271)
Issuance of common stock 38,392 36,348
Purchases of common stock held in treasury (120,245) (35,126)
Net cash used in financing activities (84,749) (6,049)
Effect of exchange rate changes on cash and cash equivalents (13,222) (141)
NET INCREASE IN CASH AND CASH EQUIVALENTS 278,849 365,519
CASH AND CASH EQUIVALENTS, beginning of period 2,297,675 1,307,141
CASH AND CASH EQUIVALENTS, end of period 2,576,524 1,672,660
Cash paid during the period for:    
Interest 91 96
Income taxes $ 63,634 $ 56,985