VERISIGN INCCA
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
VRSN$311.12+1.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income | $817.6 | $673.8 | $784.8 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation of property and equipment | 44.1 | 46.9 | 47.9 |
| Stock-based compensation expense | 59.7 | 58.6 | 53.4 |
| Amortization of discount on investments in debt securities | (27.8) | (7.7) | (0.4) |
| Other, net | 3.3 | 3.8 | 6.4 |
| Changes in operating assets and liabilities: | |||
| Other assets | (1.5) | 9.5 | (14.0) |
| Other liabilities | (2.2) | (13.3) | 1.4 |
| Deferred revenues | 27.0 | 65.7 | 90.5 |
| Net deferred income taxes | (66.4) | (6.2) | (162.8) |
| Net cash provided by operating activities | 853.8 | 831.1 | 807.2 |
| Cash flows from investing activities: | |||
| Proceeds from maturities and sales of marketable securities | 1,278.9 | 1,721.5 | 2,654.5 |
| Purchases of marketable securities | (1,330.5) | (1,338.4) | (2,870.7) |
| Purchases of property and equipment | (45.8) | (27.4) | (53.0) |
| Net cash (used in) provided by investing activities | (97.4) | 355.7 | (269.2) |
| Cash flows from financing activities: | |||
| Repurchases of common stock | (901.4) | (1,048.1) | (722.6) |
| Proceeds from employee stock purchase plan | 12.3 | 12.3 | 12.4 |
| Repayment of borrowings | — | — | (750.0) |
| Proceeds from borrowings, net of issuance costs | — | — | 741.1 |
| Other financing activities | (0.7) | — | — |
| Net cash used in financing activities | (889.8) | (1,035.8) | (719.1) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (0.1) | (0.8) | (0.7) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (133.5) | 150.2 | (181.8) |
| Cash, cash equivalents, and restricted cash at beginning of period | 379.0 | 228.8 | 410.6 |
| Cash, cash equivalents, and restricted cash at end of period | $245.5 | $379.0 | $228.8 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | $72.8 | $72.8 | $85.6 |
| Cash paid for income taxes, net of refunds received | $239.7 | $211.7 | $178.4 |
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