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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 203,011 $ 210,061 $ 184,213
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 27,409 24,815 19,968
Amortization of intangibles 15,993 17,459 21,994
Amortization of premium and discount on investments, net (11,603) (6,461) (373)
Impairment of minority investments 0 6,962 0
Stock-based compensation to employees 22,335 28,380 34,871
Stock-based compensation to Board of Directors and Scientific Advisory Board 1,774 1,566 1,404
Deferred income tax (benefit) expense (3,766) (26,946) 1,748
Retirement plan expense, net of benefit payments 3,129 5,276 8,875
Decrease (increase) in assets:      
Accounts receivable (47,186) 14,975 (25,378)
Inventory 7,425 (49,060) (42,569)
Other current assets (41,574) (24,843) (202)
Other assets 4,450 25,971 (32,369)
Increase (decrease) in liabilities:      
Accounts payable and accrued expenses 4,047 3,338 1,902
Other current liabilities (21,481) 20,917 2,105
Deferred revenue (4,159) (93,203) (5,220)
Other liabilities (5,027) (32,392) 20,136
Net cash provided by operating activities 154,777 126,815 191,105
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (59,792) (42,497) (43,161)
Purchase of intangibles (66,563) (4,709) (394)
Purchases of investments (531,103) (701,993) (642,180)
Proceeds from sale and maturity of investments 574,165 468,456 227,984
Net cash used in investing activities (83,293) (280,743) (457,751)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 2,012 1,570 1,507
Payment of withholding taxes related to stock-based compensation to employees (8,206) (9,209) (14,949)
Cash dividends paid (66,735) (56,996) (37,931)
Net cash used in financing activities (72,929) (64,635) (51,373)
DECREASE IN CASH AND CASH EQUIVALENTS (1,445) (218,563) (318,019)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 93,430 311,993 630,012
CASH AND CASH EQUIVALENTS, END OF YEAR $ 91,985 $ 93,430 $ 311,993