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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 504,918 $ 547,629 $ 523,672
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 648,410 570,776 592,754
Stock-based compensation 393,378 328,467 217,185
Benefit for deferred income taxes (70,268) (22,987) (104,971)
Amortization of debt issuance costs 6,521 5,341 4,395
Loss (gain) on investments 5,066 (311) 15,895
Other non-cash reconciling items, net 65,488 50,221 31,063
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable (22,300) (49,203) (21,214)
Prepaid expenses and other current assets (46,094) (18,726) (20,125)
Accounts payable and accrued expenses 344 (39,825) (26,499)
Deferred revenue 20,687 48 16,713
Other current liabilities 26,860 1,516 (5,318)
Other non-current assets and liabilities (13,839) (24,507) 51,126
Net cash provided by operating activities 1,519,171 1,348,439 1,274,676
Cash flows from investing activities:      
Cash paid for business acquisitions, net of cash acquired (434,066) (106,171) (872,091)
Cash paid for asset acquisitions (132,835) (120,985) 0
Purchases of property and equipment (390,433) (457,909) (241,266)
Capitalization of internal-use software development costs (294,834) (272,131) (217,036)
Purchases of short- and long-term marketable securities (236,176) (1,461,890) (17,975)
Proceeds from sales of short- and long-term marketable securities 333,069 201,585 575,522
Proceeds from maturities and redemptions of short- and long-term marketable securities 352,623 375,332 156,658
Other, net 3,973 (6,069) (6,122)
Net cash used in investing activities (798,679) (1,848,238) (622,310)
Cash flows from financing activities:      
Proceeds from borrowings under revolving credit facility 0 90,000 125,000
Repayment of borrowings under revolving credit facility 0 (90,000) (125,000)
Proceeds from the issuance of convertible senior notes, net of issuance costs 0 1,247,388 0
Proceeds from the issuance of warrants related to convertible senior notes 0 90,195 0
Purchases of note hedges related to convertible senior notes 0 (236,555) 0
Proceeds related to the issuance of common stock under stock plans 61,513 62,979 56,462
Employee taxes paid related to net share settlement of stock awards (173,176) (66,222) (82,236)
Repurchases of common stock (557,468) (654,046) (608,010)
Other, net (10,504) (360) (393)
Net cash (used in) provided by financing activities (679,635) 443,379 (634,177)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (12,243) 3,868 (12,918)
Net increase (decrease) in cash, cash equivalents and restricted cash 28,614 (52,552) 5,271
Cash, cash equivalents and restricted cash at beginning of year 490,470 543,022 537,751
Cash, cash equivalents and restricted cash at end of year 519,084 490,470 543,022
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds received of $5,888, $11,006 and $15,458 for the years ended December 31, 2024, 2023 and 2022, respectively 136,322 134,478 183,900
Cash paid for interest expense 20,420 6,328 6,158
Cash paid for operating lease liabilities 288,067 257,961 224,898
Non-cash activities:      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 356,912 333,590 202,409
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 55,515 65,048 80,170
Capitalization of stock-based compensation 107,488 83,676 33,060
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 517,707 489,468 542,337
Restricted cash 1,377 1,002 685
Cash, cash equivalents and restricted cash $ 519,084 $ 490,470 $ 543,022