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 $ 1,154,025 $ 931,787
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,184 52,405
Non-cash lease expense 7,757 6,966
Gain on disposal of property and equipment (1,433) (641)
Loss on impairment of property and equipment 0 2,279
Stock-based compensation 63,965 53,854
Deferred income taxes (412) 646
Effect on cash of changes in operating assets and liabilities:    
Accounts receivable (290,418) (222,239)
Inventories (73,782) 104,633
Prepaid expenses and other assets (62,264) (63,675)
Prepaid income taxes 3,457 14,512
Accounts payable 192,205 4,333
Accrued liabilities 18,359 28,510
Accrued promotional allowances 56,516 71,516
Accrued compensation (27,136) (22,146)
Income taxes payable 25,830 21,056
Other liabilities (4,177) (1,582)
Deferred revenue (6,475) (8,598)
Net cash provided by operating activities 1,114,201 973,616
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales and maturities of available-for-sale investments 507,415 0
Purchases of available-for-sale investments (1,358,328) (283,097)
Purchases of property and equipment (69,031) (60,460)
Proceeds from sale of property and equipment 2,909 2,334
Additions to intangibles (6,567) (15,399)
Increase in other assets (5,713) (1,107)
Net cash used in investing activities (929,315) (357,729)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on short-term debt (3,584) (5,023)
Payments on credit facilities 0 (375,000)
Issuance of common stock 78,865 87,684
Purchases of common stock held in treasury (133,978) (16,633)
Net cash used in financing activities (58,697) (308,972)
Effect of exchange rate changes on cash and cash equivalents (21,882) 86,725
NET INCREASE IN CASH AND CASH EQUIVALENTS 104,307 393,640
CASH AND CASH EQUIVALENTS, beginning of period 2,088,117 1,533,287
CASH AND CASH EQUIVALENTS, end of period 2,192,424 1,926,927
Cash paid during the period for:    
Interest 98 5,144
Income taxes $ 332,057 $ 262,711