v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 173,375 $ 224,302
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 214,692 216,082
Depreciation and amortization expense 81,672 68,290
Provision for expected credit losses 10,141 14,390
Deferred benefit for income taxes (13,727) (45,255)
Loss on sale of business 0 2,630
Asset impairment charges 0 68,091
Other non-cash income, net (2,066) (3,786)
Changes in operating assets and liabilities (net of impact of sale of business):    
Current assets 135,804 (39,578)
Non-current assets (11) (3,964)
Current liabilities (165,024) (87,852)
Non-current liabilities 2,654 (2,942)
Net cash provided by operating activities 437,510 410,408
Cash flows from investing activities    
Purchases of property and equipment (10,174) (7,752)
Development of internal-use software (22,860) (19,594)
Purchases of investments (266,935) (288,226)
Sales and maturities of investments 263,210 261,589
Net cash used in investing activities (36,759) (53,983)
Cash flows from financing activities    
Payment of tax obligations on vested equity awards (42,136) (58,008)
Repurchase of stock (464,314) (483,987)
Proceeds from exercise of stock options 3,830 8,448
Payment of debt issuance costs 0 (2,215)
Settlement of convertible senior notes 0 (90)
Payments on finance lease obligations (4,591) (4,723)
Other financing, net 2,418 (259)
Net cash used in financing activities (504,793) (540,834)
Effect of exchange rate changes on cash 8,658 (252)
Net decrease in cash, cash equivalents, and restricted cash (95,384) (184,661)
Cash, cash equivalents, and restricted cash at beginning of period 914,323 926,619
Cash and cash equivalents at end of period 818,939 741,958
Supplemental cash flow disclosures:    
Cash paid for income taxes, net of refunds 58,838 29,598
Supplemental non-cash disclosures:    
Stock-based compensation capitalized in development of capitalized software and asset additions in exchange for liabilities 15,861 16,479
Lease assets obtained in exchange for new lease liabilities $ 3,089 $ 7,751