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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (5,264) $ 304,064
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 40,621 34,419
Net amortization (accretion) of premium (discount) on marketable securities 1,795 (17,705)
Provision for doubtful accounts 1,767 629
Asset impairment 6,573 0
Non-cash interest expense 4,289 4,140
Net loss (gain) from change in fair value of debt securities 989 (3,498)
Stock-based compensation 113,590 113,821
Deferred income taxes (22,368) (26,796)
Changes in operating assets and liabilities:    
Accounts receivable 159,542 (83,497)
Inventory 37,527 (16,403)
Prepaid expenses and other assets (53,707) (41,993)
Accounts payable, accrued and other liabilities (90,228) 107,225
Warranty obligations (11,908) 49,269
Deferred revenues (6,955) 91,800
Net cash provided by operating activities 176,263 515,475
Cash flows from investing activities:    
Purchases of property and equipment (17,007) (66,478)
Purchases of marketable securities (772,321) (1,272,908)
Maturities and sale of marketable securities 779,436 911,804
Net cash used in investing activities (9,892) (427,582)
Cash flows from financing activities:    
Partial settlement of convertible notes (2) 0
Proceeds from issuance of common stock under employee equity plans 7,955 596
Payment of withholding taxes related to net share settlement of equity awards (67,515) (84,635)
Repurchase of common stock (141,904) (200,000)
Net cash used in financing activities (201,466) (284,039)
Effect of exchange rate changes on cash and cash equivalents (1,551) 1,578
Net decrease in cash and cash equivalents (36,646) (194,568)
Cash and cash equivalents—Beginning of period 288,748 473,244
Cash and cash equivalents—End of period 252,102 278,676
Supplemental disclosures of non-cash investing activities:    
Purchases of property and equipment included in accounts payable $ 5,008 $ 8,310