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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 359,287 $ 291,644
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 83,243 76,585
Deferred income tax provision (4,890) (486)
Impairment, closure costs, and asset disposals 4,209 8,152
Provision for credit losses (412) 500
Stock-based compensation expense 36,003 20,084
Other 835 (2,810)
Changes in operating assets and liabilities:    
Accounts receivable 26,146 39,659
Inventory 1,331 1,086
Prepaid expenses and other current assets 16,291 (14,569)
Operating lease assets 64,797 59,135
Other assets 1,561 3,277
Accounts payable 12,588 (2,732)
Accrued payroll and benefits (85,289) (53,428)
Accrued liabilities 25,322 17,009
Unearned revenue (19,358) (22,653)
Income tax payable/receivable 97,960 85,400
Operating lease liabilities (51,537) (51,584)
Other long-term liabilities 1,147 767
Net cash provided by operating activities 569,234 455,036
Investing activities    
Purchases of leasehold improvements, property and equipment (132,703) (120,369)
Purchases of investments (366,798) (214,819)
Maturities of investments 198,462 99,639
Net cash used in investing activities (301,039) (235,549)
Financing activities    
Acquisition of treasury stock (27,005) (126,709)
Tax withholding on stock-based compensation awards (72,654) (67,185)
Other financing activities (415) 11
Net cash used in financing activities (100,074) (193,883)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (752) 290
Net change in cash, cash equivalents, and restricted cash 167,369 25,894
Cash, cash equivalents, and restricted cash at beginning of period 586,163 408,966
Cash, cash equivalents, and restricted cash at end of period 753,532 434,860
Supplemental disclosures of cash flow information    
Income taxes paid (refunded) 7,859 (245)
Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities 64,207 63,745
Acquisition of treasury stock accrued in accounts payable and accrued liabilities $ 3,646 $ 9,422