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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 61,004 $ 44,482
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,750 11,551
Provision for doubtful accounts 254 408
Non-cash interest expense 13,516 4,173
Financing fees on extinguishment of debt 0 2,152
Fees paid for repurchase and exchange of convertible notes due 2023 0 6,000
Stock-based compensation 34,214 14,000
Change in fair value of derivatives 44,348 0
Deferred income taxes (14,507) 0
Changes in operating assets and liabilities:    
Accounts receivable 23,533 (56,139)
Inventory (5,479) (13,964)
Prepaid expenses and other assets (10,451) (8,634)
Accounts payable, accrued and other liabilities (9,200) 18,656
Warranty obligations 6,681 3,330
Deferred revenues (24,509) 10,781
Net cash provided by operating activities 132,154 36,796
Cash flows from investing activities:    
Purchases of property and equipment (11,707) (7,368)
Net cash used in investing activities (11,707) (7,368)
Cash flows from financing activities:    
Issuance of convertible notes, net of issuance costs 312,420 127,481
Purchase of convertible note hedges (89,056) (36,313)
Sale of warrants 71,552 29,819
Fees paid for repurchase and exchange of convertible notes due 2023 0 (6,000)
Principal payments and financing fees on debt (2,269) (45,658)
Proceeds from exercise of equity awards and employee stock purchase plan 4,708 2,925
Payment of withholding taxes related to net share settlement of equity awards (52,042) (4,438)
Net cash provided by financing activities 245,313 67,816
Effect of exchange rate changes on cash and cash equivalents (77) (435)
Net increase in cash and cash equivalents 365,683 96,809
Cash, cash equivalents and restricted cash—Beginning of period 296,109 106,237
Cash and cash equivalents—End of period 661,792 203,046
Supplemental disclosures of non-cash investing and financing activities:    
Purchases of fixed assets included in accounts payable 2,132 926
Accrued interest payable unpaid upon exchange of convertible notes due 2023 $ 0 $ 833