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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 437,672 $ 242,023 $ 164,375
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 37,114 28,699 19,186
Amortization of premium on available-for-sale securities 4,375 4,674 2,979
Loss (gain) on deferred compensation plan investments 6,600 (4,563) (4,592)
Deferred taxes, net (13,220) (2,772) (1,627)
Stock-based compensation expense 160,992 123,479 85,551
Other 97 110 (1,072)
Changes in operating assets and liabilities:      
Accounts receivable (77,903) (37,976) (14,123)
Inventories (188,073) (102,323) (29,503)
Other assets (177,284) (15,311) (3,003)
Accounts payable (11,240) 32,926 10,410
Accrued compensation and related benefits 28,514 16,536 18,524
Income tax liabilities 16,559 11,771 747
Other accrued liabilities 22,471 22,737 19,951
Net cash provided by operating activities 246,674 320,010 267,803
Cash flows from investing activities:      
Purchases of property and equipment (58,843) (94,420) (55,610)
Purchases of short-term investments (63,700) (394,886) (334,947)
Maturities and sales of short-term investments 127,860 113,255 357,092
Purchases of long-term investments (2,085) 0 (3,316)
Sales of long-term investments 750 500 300
Contributions to deferred compensation plan, net (16,492) (2,542) (2,696)
Purchases of intangible assets 0 (793) 0
Net cash used in investing activities (12,510) (378,886) (39,177)
Cash flows from financing activities:      
Property and equipment purchased on extended payment terms (2,055) (2,834) (5,357)
Proceeds from common stock issued under the employee equity incentive plan 5,358 17,322 18,767
Proceeds from common stock issued under the employee stock purchase plan 5,877 4,670 3,819
Dividends and dividend equivalents paid (137,965) (109,364) (88,786)
Net cash used in financing activities (128,785) (90,206) (71,557)
Effect of change in exchange rates (6,039) 3,400 4,926
Net increase (decrease) in cash, cash equivalents and restricted cash 99,340 (145,682) 161,995
Cash, cash equivalents and restricted cash, beginning of period 189,389 335,071 173,076
Cash, cash equivalents and restricted cash, end of period 288,729 189,389 335,071
Supplemental disclosures for cash flow information:      
Cash paid for taxes 85,031 21,148 1,405
Non-cash investing and financing activities:      
Liability accrued for property and equipment purchases 5,743 17,877 7,839
Liability accrued for dividends and dividend equivalents $ 40,939 $ 33,059 $ 27,507