v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 134,102 $ 103,647
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 24,182 26,263
Non-cash operating lease expense 5,843 7,634
Stock-based compensation 33,396 21,845
Amortization of prepaid debt fees 3,581 1,867
Deferred taxes, net (9,664) (8,725)
(Gain) loss on sale of business 79 (42)
Restructuring, non-cash (25) (171)
Other adjustments, net (354) (591)
Changes in operating assets and liabilities, net of acquisition and sale of business:    
Accounts receivable 18,789 (13,557)
Inventories (7,413) (13,216)
Other current assets 6,409 (510)
Other long-term assets 3,479 (1,885)
Accounts payable, other current liabilities, and taxes payable (31,868) (7,128)
Wages and benefits payable (34,884) (28,700)
Unearned revenue 46,431 39,039
Warranty (1,876) 810
Restructuring (10,252) (14,628)
Other operating, net (11,153) (18,927)
Net cash provided by operating activities 168,802 93,025
Investing activities    
Net proceeds related to the sale of business 0 405
Acquisitions of property, plant, and equipment (10,656) (14,255)
Business acquisitions, net of cash and cash equivalents acquired 0 (34,126)
Other investing, net 5 156
Net cash used in investing activities (10,651) (47,820)
Financing activities    
Proceeds from borrowings 0 805,000
Issuance of common stock 5,436 2,972
Payments on call spread for convertible offering 0 (108,997)
Repurchase of common stock 0 (100,000)
Prepaid debt fees (178) (21,495)
Other financing, net (507) (641)
Net cash provided by financing activities 4,751 576,839
Effect of foreign exchange rate changes on cash and cash equivalents 10,118 (3,454)
Increase in cash and cash equivalents 173,020 618,590
Cash and cash equivalents at beginning of period 1,051,237 302,049
Cash and cash equivalents at end of period 1,224,257 920,639
Supplemental disclosure of cash flow information:    
Income taxes, net 45,869 40,006
Interest $ 6,944 $ 958