v3.22.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 299,751 $ 199,359
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,344 63,991
(Gain) Loss on disposal of property and equipment (1,205) 603
Other, net 8,115 6,124
Changes in operating assets and liabilities, net 14,720 40,231
Net cash provided by operating activities 388,725 310,308
Cash flows from investing activities:    
Purchase of property and equipment (93,713) (50,953)
Proceeds from sale of property and equipment 10,455 7,656
Purchase of short-term investments (75,162) (89,965)
Proceeds from maturities of short-term investments 49,966 110,190
Net cash used in investing activities (108,454) (23,072)
Cash flows from financing activities:    
Payments for share repurchases (338,352) (240,215)
Forward contract for accelerated share repurchases (100,000) (68,750)
Dividends paid (34,196) (23,232)
Other financing activities, net (8,165) (4,569)
Net cash used in financing activities (480,713) (336,766)
Decrease in cash and cash equivalents (200,442) (49,530)
Cash and cash equivalents at beginning of period 462,564 401,430
Cash and cash equivalents at end of period $ 262,122 $ 351,900

Source