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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 51,687,000 $ 38,155,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred revenue and recognition of unbilled receivables (57,648,000) (40,511,000)
Depreciation 4,263,000 3,615,000
Amortization of intangibles 5,488,000 5,490,000
Change in excess inventory reserve 667,000 611,000
Amortization of premium and discount on investments, net (70,000) (2,005,000)
Stock-based compensation to employees 5,200,000 5,735,000
Stock-based compensation to Board of Directors and Scientific Advisory Board 330,000 254,000
Deferred income tax expense 515,000 940,000
Retirement plan expense 2,228,000 1,414,000
Decrease (increase) in assets:    
Accounts receivable (9,066,000) (22,140,000)
Inventory (10,498,000) (10,726,000)
Other current assets 5,400,000 7,706,000
Other assets (7,133,000) (3,245,000)
Increase (decrease) in liabilities:    
Accounts payable and accrued expenses (21,136,000) (29,340,000)
Other current liabilities (666,000) 3,114,000
Deferred revenue 53,000,000 43,685,000
Other liabilities 6,935,000 2,994,000
Net cash provided by operating activities 29,496,000 5,746,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (9,938,000) (4,782,000)
Purchases of intangibles (298,000)  
Purchases of investments (4,220,000) (148,592,000)
Proceeds from sale and maturity of investments 100,000,000 250,400,000
Net cash provided by investing activities 85,544,000 97,026,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 348,000 259,000
Payment of withholding taxes related to stock-based compensation to employees (9,634,000) (4,816,000)
Cash dividends paid (9,487,000) (7,098,000)
Net cash used in financing activities (18,773,000) (11,655,000)
INCREASE IN CASH AND CASH EQUIVALENTS 96,267,000 91,117,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 630,012,000 131,627,000
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 726,279,000 $ 222,744,000