v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 1,031.4 $ 646.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 166.4 166.1
Depreciation and amortization expense 55.9 48.4
Intangible asset impairment charge 0.0 379.0
Deferred income taxes (65.3) (191.6)
Other non-cash items, net (5.0) 39.2
Changes in operating assets and liabilities:    
Accounts receivable 39.8 (169.6)
Inventories (97.7) (167.1)
Prepaid expenses and other assets 173.4 (28.1)
Accounts payable 35.6 26.2
Accrued expenses 70.5 48.1
Other liabilities 23.1 22.0
Net cash provided by operating activities 1,428.1 818.9
Cash flows from investing activities:    
Purchases of available-for-sale debt securities (2,507.6) (1,647.4)
Sales and maturities of available-for-sale debt securities 2,209.1 1,637.6
Purchases of property and equipment (133.4) (40.7)
Other investing activities 0.0 (5.3)
Net cash used in investing activities (431.9) (55.8)
Cash flows from financing activities:    
Issuances of common stock under benefit plans 27.0 16.7
Repurchases of common stock (336.9) (426.1)
Payments in connection with common stock withheld for employee tax obligations (228.5) (270.5)
Other financing activities (0.4) (0.5)
Net cash used in financing activities (538.8) (680.4)
Effect of changes in exchange rates on cash (40.3) 30.5
Net increase in cash, cash equivalents and restricted cash 417.1 113.2
Cash, cash equivalents and restricted cash—beginning of period 5,087.8 4,572.2
Cash, cash equivalents and restricted cash—end of period 5,504.9 4,685.4
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 82.3 184.4
Cash paid for interest $ 3.2 $ 2.7