v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents $ 296,080 $ 228,843 $ 141,563
Restricted cash included in prepaid expenses and other current assets 29,532 33,726 26,075
Cash, cash equivalents and restricted cash [1] 325,612 262,569 167,638
Cash activity:      
Cash paid for interest 14,678 3,366 6,624
Income tax payments [2] 36,771 15,511 7,904
Cash paid for amounts included in the measurement of operating lease liabilities 3,984 5,508 26,686
Non-cash activity:      
Right-of-use assets obtained in exchange for operating lease liabilities 3,301 6,456 973
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software (127) 356 (1,770)
1.125% Convertible Senior Notes Due 2026      
Non-cash financing activity:      
Exchanged Notes (20,000) (176,260) 0
2027 Notes, due March 15, 2027      
Non-cash financing activity:      
Exchanged Notes (150,000) 0 0
Issuance of the Notes in exchange for Notes 0 176,260 0
2030 Notes, due June 30, 2030      
Non-cash financing activity:      
Issuance of the Notes in exchange for Notes $ 244,071 $ 0 $ 0
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the Consolidated Balance Sheets as of December 31, 2025, 2024 and 2023 (in thousands):
December 31,
202520242023
Cash and cash equivalents$296,080 $228,843 $141,563 
Restricted cash included in prepaid expenses and other current assets29,532 33,726 26,075 
Cash, cash equivalents and restricted cash$325,612 $262,569 $167,638 
Year Ended December 31,
202520242023
Supplemental disclosure of cash flow information
Cash activity:
Cash paid for interest$14,678 $3,366 $6,624 
Income tax payments (2)
36,771 15,511 7,904 
Cash paid for amounts included in the measurement of operating lease liabilities3,984 5,508 26,686 
Non-cash investing activity:
Right-of-use assets obtained in exchange for operating lease liabilities3,301 6,456 973 
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software (127)356 (1,770)
Non-cash financing activity:
Exchanged 2026 Notes(20,000)(176,260)— 
Exchanged 2027 Notes
(150,000)— — 
Issuance of the 2027 Notes in exchange for 2026 Notes— 176,260 — 
Issuance of the 2030 Notes in exchange for 2026 Notes and 2027 Notes
244,071 — — 
[2] Income tax payments is inclusive of payments remitted, net of refunds received, related to the settlement of the Italy 2012 and 2017 Assessments. See Note 15, Income Taxes, for additional information.