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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 438,936 $ 397,362 $ 145,449
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 74,708 58,775 30,846
Net amortization (accretion) of premium (discount) on marketable securities (15,561) (2,632) 1,593
Provision for doubtful accounts 1,153 119 477
Asset impairment 10,603 1,200 0
Non-cash interest expense 8,380 8,167 44,387
Loss on partial settlement of convertibles notes 0 0 56,497
Deemed repayment of convertible notes attributable to accreted debt discount 0 0 (15,718)
Gain on settlement of debt securities 0 0 (6,569)
Net gain from change in fair value of debt securities (8,078) (735) (3,042)
Stock-based compensation 212,857 216,802 114,286
Deferred income taxes (43,348) 3,633 (31,241)
Changes in operating assets and liabilities:      
Accounts receivable (12,478) (107,556) (151,160)
Inventory (63,887) (75,273) (29,258)
Prepaid expenses and other assets (59,777) (68,423) (26,885)
Accounts payable, accrued and other liabilities (22,149) 133,416 117,183
Warranty obligations 57,641 57,773 27,016
Deferred revenues 117,780 122,189 78,167
Net cash provided by operating activities 696,780 744,817 352,028
Cash flows from investing activities:      
Purchases of property and equipment (110,401) (46,443) (52,258)
Purchase of intangible asset 0 0 (250)
Investments in private companies (15,000) (16,000) (58,000)
Redemption of investment in private companies 0 0 26,569
Business acquisitions, net of cash acquired 0 (62,162) (235,652)
Purchases of marketable securities (2,081,431) (907,430) (934,956)
Maturities and sale of marketable securities 1,840,477 660,129 35,000
Net cash used in investing activities (366,355) (371,906) (1,219,547)
Cash flows from financing activities:      
Issuance of convertible notes, net of issuance costs 0 0 1,188,439
Purchase of convertible note hedges 0 0 (286,235)
Sale of warrants 0 0 220,800
Principal payments and financing fees on debt 0 0 (1,694)
Partial repurchase of convertible notes 0 0 (290,247)
Proceeds from exercise of equity awards and employee stock purchase plan 13,870 10,370 7,484
Payment of withholding taxes related to net share settlement of equity awards (120,646) (27,496) (29,136)
Repurchase of common stock (409,998) 0 (500,000)
Net cash used in financing activities (516,774) (17,126) 309,411
Effect of exchange rate changes on cash and cash equivalents 1,853 (1,857) (1,955)
Net increase (decrease) in cash and cash equivalents (184,496) 353,928 (560,063)
Cash and cash equivalents—Beginning of period 473,244 119,316 679,379
Cash and cash equivalents—End of period 288,748 473,244 119,316
Supplemental disclosures of non-cash investing and financing activities:      
Cash paid for interest 455 455 733
Cash paid for income taxes 74,706 33,168 4,823
Purchases of property and equipment included in accounts payable 10,141 17,396 7,498
Purchases of property and equipment through tenant improvement allowance 0 748 0
Contingent consideration in connection with the acquisition $ 0 $ 0 $ 3,500