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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 386,599 $ 359,287
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,211 83,243
Deferred income tax provision (7,329) (4,890)
Impairment, closure costs, and asset disposals 6,018 4,209
Provision for credit losses (1,294) (412)
Stock-based compensation expense 37,601 36,003
Other 914 835
Changes in operating assets and liabilities:    
Accounts receivable 43,239 26,146
Inventory 7,535 1,331
Prepaid expenses and other current assets (9,748) 16,291
Operating lease assets 72,540 64,797
Other assets 61 1,561
Accounts payable 13,208 12,588
Accrued payroll and benefits (107,013) (85,289)
Accrued liabilities (183) 25,322
Unearned revenue (31,001) (19,358)
Income tax payable/receivable 113,377 97,960
Operating lease liabilities (55,662) (51,537)
Other long-term liabilities 1,002 1,147
Net cash provided by operating activities 557,075 569,234
Investing activities    
Purchases of leasehold improvements, property and equipment (144,810) (132,703)
Purchases of investments (4,000) (366,798)
Maturities of investments 154,889 198,462
Net cash provided by/(used in) investing activities 6,079 (301,039)
Financing activities    
Repurchase of common stock (553,796) (27,005)
Tax withholding on stock-based compensation awards (32,902) (72,654)
Other financing activities 1,524 (415)
Net cash used in financing activities (585,174) (100,074)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (236) (752)
Net change in cash, cash equivalents, and restricted cash (22,256) 167,369
Cash, cash equivalents, and restricted cash at beginning of period 778,379 586,163
Cash, cash equivalents, and restricted cash at end of period 756,123 753,532
Supplemental disclosures of cash flow information    
Income taxes paid 8,754 7,859
Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities 76,389 64,207
Repurchase of common stock accrued in accounts payable and accrued liabilities $ 12,102 $ 3,646