v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 93,230 $ 105,028
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes 33,683 18,047
Depreciation and amortization 39,148 32,946
Stock-based compensation 44,997 38,788
Non-cash operating lease cost 9,457 9,612
Other non-cash operating activities 2,950 (2,359)
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable (65,302) (69,589)
Inventories 7,396 15,573
Prepaid expenses and other assets (21,970) (79,160)
Accounts payable 8,575 4,100
Accrued and other long-term liabilities (67,877) (34,473)
Long-term income tax payable 3,316 4,570
Deferred revenues (34,927) (14,419)
Net cash provided by operating activities 52,676 28,664
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired 0 (77,075)
Purchase of property, plant and equipment (25,289) (9,369)
Proceeds from maturities of marketable securities 0 6,035
Proceeds from sales of marketable securities 0 831
Other investing activities 0 (6)
Net cash used in investing activities (25,289) (79,584)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 13,909 14,339
Common stock repurchases, net of excise tax (201,088) 0
Payroll taxes paid upon the vesting of equity awards (19,577) (26,055)
Net cash used in financing activities (206,756) (11,716)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 8,480 (9,004)
Net decrease in cash, cash equivalents, and restricted cash (170,889) (71,640)
Cash, cash equivalents and restricted cash at beginning of the period 1,044,963 938,519
Cash, cash equivalents and restricted cash at end of the period $ 874,074 $ 866,879