XML 43 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows provided by operating activities:    
Net income $ 42,248 $ 17,975
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 5,004 3,870
Amortization of intangible assets 2,321 1,971
Amortization of premium and accretion of discount on available-for-sale marketable securities, net 120 (59)
Stock-based compensation expenses 12,773 9,704
Deferred income tax benefit, net (2,859) (973)
Other expenses, net 235 186
Changes in assets and liabilities:    
Inventories, net (29,004) 964
Prepaid expenses and other assets 49,888 10,885
Trade receivables, net 59,420 (7,379)
Operating lease right-of-use assets and liabilities, net and effect of exchange rate differences (1,247) 828
Trade payables, net (17,589) (21,720)
Employees and payroll accruals 11,821 3,250
Warranty obligations 13,809 14,947
Deferred revenues and customers advances (31,729) 1,730
Other liabilities (7,466) 20,271
Net cash provided by operating activities 107,745 56,450
Cash flows from investing activities:    
Proceeds from sales and maturities of available-for-sale marketable securities 42,333 44,575
Purchase of property, plant and equipment (27,053) (10,620)
Investment in available-for-sale marketable securities (31,924) (15,316)
Withdrawal from (investment in) bank deposits (3,316) 3,813
Withdrawal from (investment in) restricted bank deposits 36 (182)
Business combination, net of cash acquired (39,315)
Net cash used in investing activities (19,924) (17,045)
Cash flows from financing activities:    
Repayment of bank loans (15,232) (1,003)
Proceeds from bank loans 15,295 51
Proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards 3,308 309
Change in non-controlling interests (1,987)
Other financing activities (56)
Net cash provided by (used in) financing activities 3,315 (2,630)
Increase in cash, cash equivalents and restricted cash 91,136 36,775
Cash, cash equivalents and restricted cash at the beginning of the period 223,901 187,764
Effect of exchange rate differences on cash, cash equivalents and restricted cash 9,035 1,939
Cash, cash equivalents and restricted cash at the end of the period 324,072 226,478
Supplemental disclosure of non-cash activities:    
Operating lease, right of use asset $ 2,158 $ 32,531