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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net income $ 76,180 $ 168,669
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,799 17,271
Acquired in-process research & development 115,986  
Bad debt recoveries (19) (192)
Stock-based compensation 40,740 33,719
Write-down of inventory and other 8,899 5,078
Accretion on marketable securities 2,701 1,183
Change in fair value of other investments (14,265) (43,107)
Gain on previously held interest in preCARDIA (20,980)  
Deferred tax provision 7,049 22,920
Change in fair value of contingent consideration (833) 3,016
Other non-cash operating activities 2,331 3,194
Changes in assets and liabilities:    
Accounts receivable 7,662 (6,925)
Inventories (19,569) 6,596
Prepaid expenses and other assets (11,874) (7,061)
Accounts payable (2,481) (8,147)
Accrued expenses and other liabilities (6,589) (10,000)
Deferred revenue 681 1,889
Net cash provided by operating activities 206,418 188,103
Investing activities:    
Purchases of marketable securities (581,849) (487,753)
Proceeds from the sale and maturity of marketable securities 404,193 338,331
Purchases of other investments and intangible assets (7,067) (26,104)
Proceeds from sales of Shockwave Medical securities   67,882
Purchases of property and equipment (20,872) (27,274)
Net cash used for investing activities (288,416) (187,101)
Financing activities:    
Proceeds from the exercise of stock options 8,822 7,076
Taxes paid related to net share settlement upon vesting of stock awards (16,396) (11,176)
Payment of Breethe contingent consideration at acquisition date fair value (2,334)  
Repurchase of common stock   (11,310)
Proceeds from the issuance of stock under employee stock purchase plan 2,961 1,978
Net cash used for financing activities (6,947) (13,432)
Effect of exchange rate changes on cash and cash equivalents 490 1,107
Net decrease in cash and cash equivalents (88,455) (11,323)
Cash and cash equivalents at beginning of period 232,710 192,341
Cash and cash equivalents at end of period 144,255 181,018
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 50,378 34,024
Supplemental disclosure of non-cash activities:    
Contingent consideration related to the acquisition of Breethe   13,300
Property and equipment in accounts payable and accrued expenses 1,433 640
Right-of-use assets obtained in exchange for lease liabilities 5,397 1,378
Precardia    
Investing activities:    
Payments for acquisition $ (82,821)  
Breethe    
Investing activities:    
Payments for acquisition   $ (52,183)