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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 99,181 $ 40,228
Adjustments to reconcile net income to net cash provided by operating activities:    
Inventory step-up amortization 1,868
Depreciation and amortization 27,430 19,581
Amortization of debt discount and issuance costs 8,592 8,175
Stock-based compensation expense 20,476 12,492
Deferred income taxes, net 6,071 72
Other 677 228
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (51,927) (11,358)
Unbilled receivables 23 (456)
Inventories (61,598) (22,767)
Prepaid expenses and other assets 471 (2,908)
Other assets 751 (260)
Accounts payable 8,968 3,317
Accrued expenses 10,051 (2,712)
Long-term liabilities (1,592) 3,210
Total cash provided by operating activities 69,396 47,754
Cash flows from investing activities:    
Acquisitions, net of cash acquired (120,979) (28,445)
Additions to capitalized software costs (2,945) (3,585)
Purchases of property, plant and equipment (34,969) (11,067)
Total cash used in investing activities (158,893) (43,097)
Cash flows from financing activities:    
Proceeds from exercise of stock options 1,991 7,088
Payment of tax withholding obligation on vesting of restricted stock (1,252) (10)
Repayment of convertible senior notes (9)
Total cash provided by financing activities 730 7,078
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7,427) 4,160
Net (decrease) increase in cash, cash equivalents and restricted cash (96,194) 15,895
Cash, cash equivalents and restricted cash, beginning of period 717,292 537,407
Cash and cash equivalents, end of period 621,098 553,302
Supplemental disclosure of non-cash investing and financing activities:    
Assets acquired under operating leases 32,518 1,456
Avitide, Inc.    
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of common stock issued for acquisition 77,576
Fair value of earnouts related to acquisition $ 79,962