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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 133,372 $ 138,304 $ 58,840
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred revenue and recognition of unbilled receivables (183,997) (135,368) (68,905)
Depreciation 15,217 12,456 8,612
Amortization of intangibles 21,969 21,962 21,962
Change in excess inventory reserve 1,114 5,938 3,630
Amortization of premium and discount on investments, net (4,960) (6,643) (6,131)
Stock-based compensation to employees 26,631 16,148 12,432
Stock-based compensation to Board of Directors and Scientific Advisory Board 1,647 1,548 4,364
Deferred income tax benefit (4,446) (5,776) (12,814)
Retirement plan expense 5,656 5,818 4,466
Decrease (increase) in assets:      
Accounts receivable (21,809) (17,323) 9,226
Inventory (28,752) 109 (37,365)
Other current assets 6,497 (15,238) 4,860
Deferred income taxes     20,682
Other assets (13,481) (13,291) (63,922)
Increase (decrease) in liabilities:      
Accounts payable and accrued expenses (8,305) 15,516 1,563
Other current liabilities 2,683 (5,183) 5,761
Deferred revenue 192,369 157,321 130,639
Other liabilities 7,387 17,614 23,896
Net cash provided by operating activities 148,792 193,912 121,796
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (27,991) (30,059) (25,391)
Purchase of intangibles (60) (401)  
Purchases of investments (604,153) (931,854) (628,789)
Proceeds from sale and maturity of investments 1,023,460 723,600 633,179
Net cash provided by (used in) investing activities 391,256 (238,714) (21,001)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 1,176 889 798
Repurchase of common stock   (649) (477)
Payment of withholding taxes related to stock-based compensation to employees (14,394) (15,980) (11,620)
Cash dividends paid (28,445) (18,853) (11,314)
Net cash used in financing activities (41,663) (34,593) (22,613)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 498,385 (79,395) 78,182
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 131,627 211,022 132,840
CASH AND CASH EQUIVALENTS, END OF YEAR $ 630,012 $ 131,627 $ 211,022