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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 249.7 $ 154.5 $ 89.6
Adjustments to reconcile net income to net cash from operating activities:      
Stock-based compensation expense 194.3 173.1 134.2
Depreciation 17.8 15.1 10.9
(Accretion) amortization of (discount) premium on investments, net (18.3) 3.7 7.4
Amortization of debt discount 0.0 0.0 16.2
Amortization of debt issuance costs 0.7 1.2 1.1
Amortization of intangible assets 3.5 0.5 0.0
Changes in fair value of equity securities (28.4) (30.8) (20.9)
Deferred income taxes (56.7) 19.1 4.3
Loss on extinguishment of convertible senior notes 0.0 70.0 0.0
Other (0.9) 0.4 (3.0)
Changes in operating assets and liabilities:      
Accounts receivable (89.3) (162.2) (28.4)
Inventory 5.4 (2.6) (2.5)
Accounts payable and accrued liabilities 64.3 114.6 56.8
Other assets and liabilities, net 47.8 (17.2) (9.2)
Cash flows from operating activities 389.9 339.4 256.5
Cash flows from investing activities:      
Purchases of debt securities available-for-sale (1,379.9) (621.2) (800.1)
Sales and maturities of debt securities available-for-sale 972.4 511.0 697.9
Acquisition of business, net of cash acquired 0.0 (42.7) 0.0
Purchases of equity securities (31.3) (7.7) (4.6)
Capital expenditures (28.3) (16.5) (23.4)
Cash flows from investing activities (467.1) (177.1) (130.2)
Cash flows from financing activities:      
Issuances of common stock under benefit plans 65.3 44.7 27.5
Repurchases of convertible senior notes 0.0 (279.0) (0.1)
Cash flows from financing activities 65.3 (234.3) 27.4
Effect of exchange rate changes on cash and cash equivalents 0.3 (1.3) 0.0
Change in cash and cash equivalents and restricted cash (11.6) (73.3) 153.7
Cash, cash equivalents and restricted cash at beginning of period 270.7 344.0 190.3
Cash, cash equivalents and restricted cash at end of period 259.1 270.7 344.0
Supplemental Disclosure:      
Non-cash capital expenditures 2.5 0.7 1.9
Right-of-use assets obtained in exchange for new operating lease liabilities 200.8 0.0 23.4
Cash paid for interest 3.8 6.6 8.6
Cash paid for income taxes $ 51.5 $ 14.4 $ 5.1