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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 366,959 $ 365,013
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 526,106 480,461
Stock-based compensation 340,177 294,333
Provision for deferred income taxes 24,346 938
Amortization of debt issuance costs 5,176 4,933
(Gain) loss on investments (9,313) 66
Other non-cash reconciling items, net 5,341 45,691
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (24,566) 28,092
Prepaid expenses and other current assets (18,101) (25,480)
Accounts payable and accrued expenses (62,494) (79,191)
Deferred revenue 3,757 13,978
Other current liabilities (24,562) 42,350
Other non-current assets and liabilities 19,355 4,199
Net cash provided by operating activities 1,152,181 1,175,383
Cash flows from investing activities:    
Cash received (paid) for business acquisitions, net of cash acquired 790 (434,066)
Cash paid for asset acquisitions (29,930) (4,862)
Purchases of property and equipment (376,092) (297,548)
Capitalization of internal-use software development costs (238,713) (224,860)
Purchases of short- and long-term marketable securities (851,265) (201,641)
Proceeds from sales of short- and long-term marketable securities 266,582 307,701
Proceeds from maturities and redemptions of short- and long-term marketable securities 1,059,642 296,623
Other, net (5,365) 4,160
Net cash used in investing activities (174,351) (554,493)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 250,000 0
Repayment of borrowings under revolving credit facility (250,000) 0
Proceeds from the issuance of convertible senior notes, net of issuance costs 1,701,796 0
Proceeds from the issuance of warrants related to convertible senior notes 330,855 0
Purchase of note hedge related to convertible senior notes (605,820) 0
Repayment of convertible senior notes (1,149,992) 0
Proceeds related to the issuance of common stock under stock plans 48,897 47,708
Employee taxes paid related to net share settlement of stock awards (109,981) (157,115)
Repurchases of common stock (799,963) (419,097)
Other, net (2,126) (10,291)
Net cash used in financing activities (586,334) (538,795)
Effects of exchange rate changes on cash, cash equivalents and restricted cash 20,742 188
Net increase in cash, cash equivalents and restricted cash 412,238 82,283
Cash, cash equivalents and restricted cash at beginning of period 519,084 490,470
Cash, cash equivalents and restricted cash at end of period 931,322 572,753
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net of refunds received of $15,539 and $5,499 for the nine months ended September 30, 2025 and 2024, respectively 123,021 111,430
Cash paid for interest expense 20,849 19,556
Cash paid for operating lease liabilities 234,337 213,459
Non-cash activities:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 214,754 285,494
Purchases of property and equipment and capitalization of internal-use software development costs included in accounts payable and accrued expenses 109,042 35,660
Capitalization of stock-based compensation 96,278 81,636
Reconciliation of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 927,933 569,749
Restricted cash 3,389 3,004
Cash, cash equivalents and restricted cash $ 931,322 $ 572,753