XML 23 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 43,898 $ 35,177
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,071 14,262
Amortization of intangibles 3,283 3,840
Loss on disposal of property and equipment 311 214
Stock-based compensation expense 22,049 15,009
Amortization of premium (accretion of discount) on marketable securities 525 (296)
Deferred income taxes 100 1,278
Increase in accounts receivable allowance for credit losses, net 155 57
Change in operating assets and liabilities:    
Accounts receivable (5,328) (14,804)
Inventories (14,425) (7,853)
Prepaid expenses and other assets 6,133 (3,034)
Accounts payable 6,365 (2,636)
Taxes payable and accrued liabilities (864) 1,126
Net cash provided by operating activities 79,273 42,340
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (35,738) (14,325)
Proceeds from sale of property and equipment 331 0
Acquisition of technology licenses 0 (351)
Purchases of marketable securities (66,066) (135,288)
Proceeds from sales and maturities of marketable securities 86,995 66,184
Net cash used in investing activities (14,478) (83,780)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 9,662 9,683
Repurchase of common stock (2,636) (7,302)
Payments of dividends to stockholders (18,497) (14,916)
Net cash used in financing activities (11,471) (12,535)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 53,324 (53,975)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 178,690 134,137
CASH AND CASH EQUIVALENTS AT END OF PERIOD 232,014 80,162
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 14,180 2,868
Unpaid technology licenses 0 675
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid (received) for income taxes, net $ (1,927) $ 1,083