XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 197,805 $ 127,016
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 108,766 114,198
(Gains) losses from sale of investments (2) 1
Share-based compensation expense 88,460 80,905
Amortization of operating lease right-of-use assets 7,262 12,258
Deferred income tax benefit (41,504) (44,000)
Other 228 398
Changes in operating assets and liabilities, exclusive of effects of acquired companies:    
Accounts receivable (7,901) (37,768)
Income tax payable 20,019 (51,300)
Prepaid expenses and other current assets (28,157) (11,594)
Accounts payable (922) 27,848
Operating lease liabilities (9,392) (8,224)
Accrued liabilities 6,510 (10,607)
Deferred revenue 49,383 28,357
Other long-term liabilities 9,304 5,533
Net cash provided by operating activities 399,859 233,021
Cash flows from investing activities:    
Additions to property and equipment (16,734) (12,506)
Purchase of marketable security investments 0 (10,617)
Proceeds and maturities from marketable security investments 7,700 45,452
Investment in software development (24,412) (27,447)
Cost of acquisitions, net of cash acquired (1,395) (35,540)
Other 168 48
Net cash used by investing activities (34,673) (40,610)
Cash flows from financing activities:    
Payment on term loans (50,000) (255,000)
Payment of debt issuance costs (2,637) 0
Proceeds from exercise of stock options, net of withheld shares for taxes upon equity award settlement 47,433 8,438
Contributions from employee stock purchase plan 12,821 11,780
Net cash provided (used) by financing activities 7,617 (234,782)
Net increase (decrease) in cash and cash equivalents 372,803 (42,371)
Cash and cash equivalents at beginning of period 165,493 173,857
Cash and cash equivalents at end of period 538,296 131,486
Supplemental cash flow information:    
Cash paid for interest 2,860 16,820
Cash paid for income taxes, net 45,660 118,000
Non-cash investing and financing activities:    
Non-cash additions to property and equipment $ 111 $ 834