v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 888,935 $ 563,202
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,278 45,281
Stock-based compensation 131,389 125,591
Deferred income taxes 179,037 110,071
Other, net 14,385 (3,220)
(Gain) loss on equity investments (16,396) 5,494
Loss on change in fair value of acquisition-related contingent consideration 2,331 34,333
Changes in operating assets and liabilities:    
Accounts receivable (100,822) 10,726
Prepaid expenses and other assets (4,849) (148,440)
Inventory (24,105) (48,099)
Accounts payable 45,880 17,752
Accrued and other liabilities (289,050) (401,883)
Net cash provided by operating activities 877,013 310,808
Cash flows from investing activities:    
Purchase of long term investments (40,000) 0
Sale of equity investments 0 7
Capital expenditures (22,613) (22,243)
Payments for intangible assets (5,000) 0
Purchases of marketable securities (174,083) (97,346)
Maturities of marketable securities 101,700 101,807
Net cash used in investing activities (139,996) (17,775)
Cash flows from financing activities:    
Excise tax paid on repurchase of Common Stock 0 (19,100)
Proceeds from issuance of Common Stock under stock plans 173,073 18,123
Tax withholdings related to restricted and performance share vesting (10,888) (10,366)
Payment of finance lease liabilities (2,342) (2,245)
Payment of contingent consideration (9,565) (10,334)
Net cash provided by (used in) financing activities 150,278 (23,922)
Effect of exchange rates on cash, cash equivalents, and restricted cash (2,773) (1,749)
Net increase in cash, cash equivalents, and restricted cash 884,522 267,362
Cash, cash equivalents, and restricted cash at beginning of period 3,099,669 1,689,451
Cash, cash equivalents, and restricted cash at end of period 3,984,191 1,956,813
Supplemental Schedule of Cash Flow Information    
Income taxes paid 6,445 177,919
Cash paid for contract dispute settlement 0 294,881
Unpaid purchase of intangible asset 0 25,000
Unpaid purchases of property and equipment 2 4,046
Leased assets obtained in exchange for new operating lease liabilities 572 1,768
Leased assets obtained in exchange for new finance lease liabilities $ 279 $ 304