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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 101,994 $ 140,193
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,052 6,347
Bad debt expense 152 467
Stock-based compensation 26,445 28,179
Write-down of inventory and other 2,157 1,733
Accretion on marketable securities (2,276) (848)
Change in fair value of other investments 5,943  
Deferred tax provision 10,195 (45,676)
Change in fair value of contingent consideration 661 3
Other non-cash operating activities 2,177  
Changes in assets and liabilities:    
Accounts receivable (3,828) (5,131)
Inventories (12,204) (16,750)
Prepaid expenses and other assets (4,077) (1,987)
Accounts payable 781 761
Accrued expenses and other liabilities (1,268) 826
Deferred revenue 2,983 (926)
Net cash provided by operating activities 138,887 107,191
Investing activities:    
Purchases of marketable securities (268,485) (112,956)
Proceeds from the sale and maturity of marketable securities and other 262,881 136,844
Purchases of other investments and intangible assets (7,800) (11,426)
Purchases of property and equipment (24,607) (27,345)
Net cash used for investing activities (38,011) (14,883)
Financing activities:    
Proceeds from the exercise of stock options 2,706 10,613
Taxes paid related to net share settlement upon vesting of stock awards (41,206) (69,666)
Repurchase of common stock (34,873)  
Proceeds from the issuance of stock under employee stock purchase plan 2,368 1,375
Net cash used for financing activities (71,005) (57,678)
Effect of exchange rate changes on cash (613) (1,223)
Net increase in cash and cash equivalents 29,258 33,407
Cash and cash equivalents at beginning of period 121,021 42,975
Cash and cash equivalents at end of period 150,279 76,382
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 6,349 3,530
Supplemental disclosure of non-cash activities:    
Property and equipment in accounts payable and accrued expenses 3,825 $ 1,399
Right-of-use assets obtained in exchange for lease liabilities $ 14,513