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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 196,346 $ 185,904 $ 159,338
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 182,026 173,230 157,142
Stock-based compensation 101,667 80,864 67,223
Accrued severance pay, net 1,323 (1,964) 1,020
Amortization of premium and discount and accrued interest on marketable securities (633) (53) (598)
Deferred taxes, net (33,241) (12,208) (30,172)
Changes in operating assets and liabilities:      
Trade receivables, net 22,245 (29,863) (72,583)
Prepaid expenses and other current assets (80,665) (76,180) (29,852)
Trade payables 4,094 777 (3,526)
Accrued expenses and other liabilities 14,875 31,730 48,095
Operating lease right-of-use assets, net 18,167 19,104 0
Deferred revenues 63,202 13,810 92,768
Operating lease liabilities (19,569) (18,839) 0
Amortization of discount on debt 13,297 9,236 8,670
Other (2,828) (1,390) (916)
Net cash provided by operating activities 480,306 374,158 396,609
Cash flows from investing activities:      
Purchase of property and equipment (24,186) (27,293) (31,442)
Purchase of investments (583,115) (619,060) (429,500)
Proceeds from investments 328,593 362,713 137,180
Payments for business and asset acquisitions, net of cash acquired (147,261) (25,972) (104,776)
Capitalization of internal use software costs (39,098) (34,679) (32,225)
Net cash used in investing activities (465,067) (344,291) (460,763)
Cash flows from financing activities:      
Proceeds from issuance of shares upon exercise of options 8,865 5,428 19,048
Purchase of treasury shares (48,272) (47,276) (26,004)
Capital lease payments (177) (816) (876)
Proceeds from issuance of exchangeable senior notes, net 451,421 0 0
Repayment of debt (215,000) 0 (8,436)
Net cash provided by (used in) financing activities 196,837 (42,664) (16,268)
Effect of exchange rate changes on cash 1,868 (979) (5,781)
Net change in cash and cash equivalents 213,944 (13,776) (86,203)
Cash and cash equivalents at the beginning of the year 228,323 242,099 328,302
Cash and cash equivalents at the end of the year 442,267 228,323 242,099
Cash paid during the year for:      
Income taxes 83,251 65,200 42,858
Interest 7,829 11,493 12,319
NNon-cash activities:      
Decrease in other receivables with respect to exercise of share options 0 0 53
Increase in accrued expenses and other liabilities with respect to purchase of treasury shares $ 112 $ 35 $ 1,282