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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 26,027 $ 64,477
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,980 15,019
Non-cash deferred revenue (7,197) (1,114)
Increase in inventory reserve 4,623 4,202
Unrealized loss/(gain) on investment in equity securities 3,804 (5,146)
Non-cash lease expense 2,377  
Unrealized gain on foreign currency contracts (259) (1,724)
Stock based compensation 3,214 3,203
Deferred income tax provision 5,008 3,729
Other 843 (76)
Changes in assets and liabilities:    
Trade receivables 51,069 (26,417)
Contract assets (59,135) (56,245)
Inventories (4,562) (1,033)
Prepaid expenses and other current assets (3,332) 6,594
Accounts payable and other current liabilities (9,797) 10,197
Contract liabilities, current 7,143 3,017
Operating lease liabilities (2,062)  
Other non-current assets and liabilities (625) (1,549)
Discontinued operations:    
Non-current liabilities 270 799
Net cash used in discontinued operations (462) (431)
Net cash provided by operating activities 45,927 17,502
Cash flows from investing activities:    
Capital expenditures (35,088) (32,733)
Acquisition of businesses, net of cash acquired (248,468)  
Net cash used in investing activities (283,556) (32,733)
Cash flows from financing activities:    
Borrowings 230,000  
Repayments (25,000)  
Debt issuance costs (2,836)  
Principal payments under finance lease obligations (527)  
Proceeds from stock options exercised 178 4,599
Net cash provided by financing activities 201,815 4,599
Effect of exchange rate changes on cash and cash equivalents (655) (1,304)
Net decrease in cash and cash equivalents (36,469) (11,936)
Cash and cash equivalents at beginning of period 95,852 183,284
Cash and cash equivalents at end of period $ 59,383 $ 171,348