v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 271,930 $ 363,673
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,353 57,482
Change in deferred revenue 98,694 48,785
Deferred income taxes 7,421 (26,776)
Share-based compensation 47,758 30,635
Other (4,706) (2,448)
(Increase) Decrease in assets:    
Receivables and contract assets (188,354) 12,661
Prepaid and other assets (47,206) (5,686)
(Decrease) Increase in liabilities:    
Accounts payable (1,061) 2,408
Accrued compensation and other expenses 6,144 325
Net cash provided by operating activities 248,973 481,059
Cash flows from investing activities:    
Purchases of short-term investments (362,380) (317,357)
Proceeds from maturities and sales of short-term investments 388,135 335,682
Capital expenditures (3,553) (15,671)
Capitalized patent costs (41,603) (39,591)
Long-term investments 1,709 0
Net cash used in investing activities (17,692) (36,937)
Cash flows from financing activities:    
Payments on long-term debt (171,258) (1,298)
Net proceeds from exercise of stock options 0 7,331
Taxes withheld upon restricted stock unit vestings (63,276) (43,762)
Repurchase of common stock (49,887) (66,669)
Taxes paid on repurchase of common stock (277) 0
Dividends paid (54,150) (42,641)
Net cash used in financing activities (338,848) (147,039)
Net (decrease) increase in cash, cash equivalents, and restricted cash (107,567) 297,083
Cash, cash equivalents, and restricted cash, beginning of period [1] 754,268 551,547
Cash, cash equivalents, and restricted cash, end of period [1] $ 646,701 $ 848,630
[1]
Refer to Note 1, "Basis of Presentation," for additional supplemental cash flow information. Additionally, refer to Note 3, "Cash, Concentration of Credit Risk and Fair Value of Financial Instruments" for a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets.