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 $ 721,591 $ 449,827
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51,000 38,270
Amortization of discount on available-for-sale securities (2,918) (3,894)
Gain on deferred compensation plan investments (6,988) (8,023)
Deferred taxes, net (260) 22,700
Stock-based compensation expense 200,256 173,581
Other (1,441) (390)
Changes in operating assets and liabilities:    
Accounts receivable (206,017) (69,033)
Inventories (200,220) (86,057)
Other assets (35,412) 73,172
Accounts payable 95,512 33,901
Accrued compensation and related benefits 49,002 33,866
Income tax liabilities 64,023 53,684
Other accrued liabilities 39,946 21,688
Net cash provided by operating activities 768,074 733,292
Cash flows from investing activities:    
Purchases of property and equipment (222,609) (131,000)
Purchases of investments (392,579) (395,533)
Maturities and sales of investments 24,705 384,640
Other 5,342 (3,825)
Net cash used in investing activities (585,141) (145,718)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (2,623) (2,106)
Proceeds from common stock issued 10,656 9,220
Repurchases of common stock (457,481) (5,703)
Dividends and dividend equivalents paid (277,996) (209,978)
Net cash used in financing activities (727,444) (208,567)
Effect of change in exchange rates 5,746 10,445
Net increase (decrease) in cash, cash equivalents and restricted cash (538,765) 389,452
Cash, cash equivalents and restricted cash, beginning of period 1,099,521 691,941
Cash, cash equivalents and restricted cash, end of period 560,756 1,081,393
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:    
Cash and cash equivalents 560,544 1,081,251
Restricted cash included in other long-term assets 212 142
Total cash, cash equivalents, and restricted cash 560,756 1,081,393
Supplemental disclosures for cash flow information:    
Cash paid for income taxes, net 154,758 21,968
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 16,961 11,701
Liability accrued for dividends and dividend equivalents $ 100,915 $ 78,407