XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Operating activities:      
Net income $ 136,505 $ 225,525 $ 203,009
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 28,089 24,097 20,430
Acquired in-process research & development 115,986    
Bad debt expense (recoveries) 46 (126) 487
Stock-based compensation expense 52,729 47,006 39,781
Write-down of inventory and other 17,993 8,518 4,249
Accretion on marketable securities 3,655 1,977 (2,731)
Change in fair value of investments (22,873) (50,983) 5,184
Deferred tax provision 2,413 29,380 32,953
Change in fair value of contingent consideration (862) 2,406 (575)
Gain on previously held interest in preCARDIA (20,980)    
Other non-cash operating activities 2,885 4,164 4,108
Changes in assets and liabilities:      
Accounts receivable, net 5,335 (12,059) 5,551
Inventories, net (29,323) 2,535 (13,237)
Prepaid expenses and other assets (8,406) (1,032) (5,333)
Accounts payable 641 2,629 2,581
Accrued expenses and other liabilities (760) (14,632) 15,676
Deferred revenue 2,317 5,173 2,787
Net cash provided by operating activities 285,390 274,578 314,920
Investing activities:      
Purchases of marketable securities (787,150) (556,199) (611,280)
Proceeds from the sale and maturity of marketable securities 543,513 396,643 550,788
Purchases of other investments and intangible assets (18,769) (26,104) (20,957)
Proceeds from sale of Shockwave Medical securities   67,882  
Purchases of property and equipment (35,763) (53,383) (44,006)
Net cash used for investing activities (380,990) (223,344) (125,455)
Financing activities:      
Proceeds from the exercise of stock options 9,424 9,075 3,748
Taxes paid related to net share settlement upon vesting of stock awards (16,526) (11,311) (41,687)
Payment of Breethe contingent consideration at acquisition date fair value (2,334)  
Repurchase of common stock   (11,310) (84,879)
Proceeds from the issuance of stock under employee stock purchase plan 7,234 5,479 5,103
Net cash used for financing activities (2,202) (8,067) (117,715)
Effect of exchange rate changes on cash and cash equivalents (2,090) (2,798) (430)
Net (decrease) increase in cash and cash equivalents (99,892) 40,369 71,320
Cash and cash equivalents at beginning of period 232,710 192,341 121,021
Cash and cash equivalents at end of period 132,818 232,710 192,341
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 61,760 48,693 9,685
Supplemental disclosure of non-cash investing and financing activities:      
Contingent consideration related to the acquisition of Breethe   13,300  
Property and equipment in accounts payable and accrued expenses 1,817 1,638 2,977
Right-of-use assets obtained in exchange for lease liabilities 6,461 2,592 $ 15,650
Precardia [Member]      
Investing activities:      
Payments for acquisition $ (82,821)    
Breethe      
Investing activities:      
Payments for acquisition   $ (52,183)