XML 43 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 543,966 $ 452,826 $ 357,523
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation of property and equipment 7,620 6,890 8,885
Amortization of premium and accretion of discount on marketable securities, net 28,092 14,428 8,414
Net gain (impairment net of gains) on sale of marketable securities previously impaired (2,017) 785 1,277
Realized gain on sale of marketable securities, net (672) (974) 1,896
Amortization of intangible assets 43,925 51,876 50,653
Stock-based compensation 39,835 35,180 30,907
Deferred income taxes, net (11,552) (11,674) (11,386)
Decrease (increase) in trade receivables, net of allowances for doubtful accounts and sales reserves (73,674) 536 (11,256)
Decrease (increase) in prepaid expenses and other current assets and other assets (4,917) (5,742) 1,285
Increase (decrease) in trade payables (5,999) 789 (2,405)
Increase in employees and payroll accruals 8,988 13,647 20,163
Increase in accrued expenses and other liabilities 90,384 97,178 63,026
Increase in deferred revenues 87,487 37,649 46,006
Excess tax benefit from stock-based compensation (7,956) (4,763) (7,502)
Increase (decrease) in accrued severance pay, net (546) (55) (379)
Net cash provided by operating activities 742,964 688,576 557,107
Cash flows from investing activities:      
Cash paid in conjunction with acquisitions, net of acquired cash (15,060) (13,957) (58,787)
Proceeds from maturity of marketable securities 820,365 605,725 427,660
Proceeds from sale of marketable securities 23,655 44,096 27,006
Investment in marketable securities (1,173,398) (1,090,416) (1,002,305)
Investment in short-term deposits (222,455)   26,302
Purchase of property and equipment (7,195) (4,910) (4,283)
Net cash used in investing activities (574,088) (459,462) (584,407)
Cash flows from financing activities:      
Proceeds from issuance of shares under stock purchase plan and upon exercise of options 71,493 103,815 92,978
Acquisition of non-controlling interest in Sofaware (6,556)    
Purchase of treasury shares at cost (300,000) (200,000) (202,285)
Excess tax benefit from stock-based compensation 7,956 4,763 7,502
Net cash used in financing activities (227,107) (91,422) (101,805)
Increase (decrease) in cash and cash equivalents (58,231) 137,692 (129,105)
Cash and cash equivalents at the beginning of the year 551,777 414,085 543,190
Cash and cash equivalents at the end of the year 493,546 551,777 414,085
Supplemental disclosure of cash flow information:      
Cash paid during the year for income taxes 63,593 59,945 55,440
Supplemental disclosures of non cash financing and investing activities      
Net change in unrealized gain (loss) on marketable securities $ (3,741) $ 3,899 $ 22,521