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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 44,588 $ 88,923
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,480 4,365
Bad debt expense (277) (21)
Stock-based compensation 9,298 13,121
Write-down of inventory and other 1,717 1,259
Accretion on marketable securities 94 (1,306)
Change in fair value of other investments (23,823) (39,654)
Deferred tax provision 12,946 10,776
Change in fair value of contingent consideration 801 356
Other non-cash operating activities 970 1,003
Changes in assets and liabilities:    
Accounts receivable 3,014 4,801
Inventories (211) (7,239)
Prepaid expenses and other assets 485 (3,417)
Accounts payable (4,458) (1,463)
Accrued expenses and other liabilities (19,584) (6,643)
Deferred revenue 719 (233)
Net cash provided by operating activities 31,759 64,628
Investing activities:    
Purchases of marketable securities (62,066) (124,067)
Proceeds from the sale and maturity of marketable securities and other 139,813 93,180
Purchases of other investments and intangible assets (2,000) (2,800)
Acquisition of Breethe Inc., net of cash acquired (51,947)  
Purchases of property and equipment (10,044) (12,250)
Net cash provided by (used for) investing activities 13,756 (45,937)
Financing activities:    
Proceeds from the exercise of stock options 1,010 1,260
Taxes paid related to net share settlement upon vesting of stock awards (9,857) (40,536)
Repurchase of common stock (11,310)  
Net cash used for financing activities (20,157) (39,276)
Effect of exchange rate changes on cash (2,872) 612
Net increase (decrease) in cash and cash equivalents 22,486 (19,973)
Cash and cash equivalents at beginning of period 192,341 121,021
Cash and cash equivalents at end of period 214,827 101,048
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 2,831 2,584
Supplemental disclosure of non-cash activities:    
Contingent consideration related to the acquisition of Breethe, Inc. 13,900  
Property and equipment in accounts payable and accrued expenses 2,044 3,619
Right-of-use assets obtained in exchange for lease liabilities $ 804 $ 14,139