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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 1,534,110 $ 1,228,737 $ 899,101
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 335,030 319,394 286,826
Deferred income tax provision (42,937) (9,505) (43,195)
Impairment, closure costs, and asset disposals 24,582 37,025 20,738
Provision for credit losses 215 1,570 (760)
Stock-based compensation expense 131,730 124,016 98,030
Other (3,472) (13,080) (16,202)
Changes in operating assets and liabilities:      
Accounts receivable (29,274) (11,216) (14,026)
Inventory (9,797) (3,649) (3,011)
Prepaid expenses and other current assets 9,244 (39,211) (14,660)
Operating lease assets 285,587 254,241 234,273
Other assets (17,690) 4,204 (346)
Accounts payable 8,467 5,313 18,208
Accrued payroll and benefits 34,857 57,048 9,864
Accrued liabilities 27,284 3,188 (27,964)
Unearned revenue 46,139 35,685 33,374
Income tax payable/receivable (14,363) (5,237) 46,262
Operating lease liabilities (217,894) (214,477) (207,186)
Other long-term liabilities 3,258 9,431 3,853
Net cash provided by operating activities 2,105,076 1,783,477 1,323,179
Investing activities      
Purchases of leasehold improvements, property and equipment (593,603) (560,731) (479,164)
Purchases of investments (986,673) (1,115,131) (614,416)
Maturities of investments 722,637 729,853 263,548
Proceeds from sale of equipment 20,113 0 0
Net cash used in investing activities (837,526) (946,009) (830,032)
Financing activities      
Repurchase of common stock (1,001,559) (592,349) (830,140)
Tax withholding on stock-based compensation awards (74,229) (69,146) (98,970)
Other financing activities 2,089 843 (294)
Net cash used in financing activities (1,073,699) (660,652) (929,404)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,635) 381 (1,007)
Net change in cash, cash equivalents, and restricted cash 192,216 177,197 (437,264)
Cash, cash equivalents, and restricted cash at beginning of year 586,163 408,966 846,230
Cash, cash equivalents, and restricted cash at end of year 778,379 586,163 408,966
Supplemental disclosures of cash flow information      
Income taxes paid 532,862 400,229 275,796
Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities 82,636 76,415 72,021
Repurchase of common stock accrued in accounts payable and accrued liabilities $ 7,279 $ 5,643 $ 4,497