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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 137,230 $ 99,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Inventory step-up amortization 0 1,868
Depreciation and amortization 36,605 27,430
Amortization of debt discount and issuance costs 1,360 8,592
Stock-based compensation expense 21,054 20,476
Deferred income taxes, net 1,722 6,071
Contingent consideration (11,604) 0
Other 210 677
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (8,609) (51,927)
Inventories (64,308) (61,598)
Prepaid expenses and other assets (168) 471
Operating lease right of use assets (22,033) (3,018)
Other assets (298) 728
Accounts payable (10,124) 8,968
Accrued expenses 3,043 10,051
Operating lease Liabilities 26,157 3,042
Long-term liabilities (372) (1,616)
Total cash provided by operating activities 110,201 69,396
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0 (120,979)
Additions to capitalized software costs (2,568) (2,945)
Purchases of property, plant and equipment (64,390) (34,969)
Purchase of intellectual property (45,000) 0
Other investing activities 30 0
Total cash used in investing activities (111,928) (158,893)
Cash flows from financing activities:    
Proceeds from exercise of stock options 2,784 1,991
Payment of tax withholding obligation on vesting of restricted stock (15,829) (1,252)
Repayment of Convertible Senior Notes (18) (9)
Total cash (used in) provided by financing activities (13,063) 730
Effect of exchange rate changes on cash, cash equivalents and restricted cash (15,661) (7,427)
Net decrease in cash, cash equivalents and restricted cash (30,451) (96,194)
Cash, cash equivalents and restricted cash, beginning of period 603,814 717,292
Cash and cash equivalents, end of period 573,363 621,098
Supplemental disclosure of non-cash investing and financing activities:    
Assets acquired under operating leases 25,705 32,518
Avitide, Inc.    
Adjustments to reconcile net income to net cash provided by operating activities:    
Contingent consideration 11,600  
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of common stock issued for acquisition 0 77,576
Fair value of earnouts related to acquisition $ 0 $ 79,962