v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 1,205,613 $ 576,419
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization, depreciation and write-offs 33,665 79,887
Goodwill impairment 0 188,943
Stock-based compensation, excluding cash-settled awards 83,372 61,281
Other (16,478) 8,086
Changes in operating assets and liabilities:    
Accounts receivable (138,098) (167,382)
Prepaid expenses and other assets (9,827) (51,861)
Accounts payable (49,556) 32,545
Accrued and other liabilities 182,702 103,794
Net cash provided by operating activities 1,291,393 831,712
Investing Activities    
Purchase of non-marketable equity securities 0 (18,678)
Other investing activities (5,247) (3,986)
Net cash used in investing activities (5,247) (22,664)
Financing Activities    
Repurchases of common stock (981,723) (1,000,911)
Payment of withholding taxes related to net share settlement (26,874) (185,667)
Payments of licensed asset obligation 0 (13,532)
Proceeds from issuance of debt 0 200,000
Other financing activities (3,635) (2,107)
Net cash used in financing activities (1,012,232) (1,002,217)
Effect of foreign exchange rate on cash and cash equivalents (2,339) 2,782
Net increase (decrease) in cash and cash equivalents, including cash from discontinued operations 271,575 (190,387)
Less: net decrease in cash from discontinued operations 0 (35,873)
Net increase (decrease) in cash and cash equivalents 271,575 (154,514)
Cash and cash equivalents at beginning of the period 2,487,096 697,030
Cash and cash equivalents at end of the period 2,758,671 542,516
Supplemental non-cash investing and financing activities disclosures:    
Acquisitions not yet paid 0 20,368
Right-of-use assets obtained in exchange for lease obligations, net of modifications 58,027 3,967
Repurchases of common stock included in accrued liabilities 32,090 0
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,690 2,392
Cash paid for income taxes, net of refunds $ 106,677 $ 5,597