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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 71,176 $ 193,468 $ 69,984
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 23,743 19,190 18,918
Amortization of intangibles 4,359 5,213 5,267
Loss on disposal of property and equipment 525 249 553
Stock-based compensation expense 30,912 23,347 21,580
Amortization of premium (accretion of discount) on marketable securities 705 (192) 227
Deferred income taxes (592) 4,019 (4,465)
Increase (decrease) in accounts receivable allowance for credit losses, net (336) 57 (28)
Change in operating assets and liabilities:      
Accounts receivable (11,300) (13,259) 5,754
Inventories (12,498) (9,523) (23,770)
Prepaid expenses and other assets 9,153 (2,132) (1,495)
Accounts payable 5,697 (6,556) 1,336
Taxes payable and accrued liabilities 4,095 10,618 (9,897)
Net cash provided by operating activities 125,639 224,499 83,964
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (70,598) (24,114) (24,677)
Proceeds from sale of property and equipment 651 0 0
Acquisition of technology licenses 0 (1,026) (900)
Purchases of marketable securities (109,703) (207,240) (62,833)
Proceeds from sales and maturities of marketable securities 151,385 70,334 157,551
Net cash provided by (used in) investing activities (28,265) (162,046) 69,141
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock under employee stock plans 10,527 9,908 9,353
Repurchase of common stock (2,636) (7,302) (103,153)
Payments of dividends to stockholders (25,081) (20,506) (18,823)
Proceeds from draw on line of credit 0 0 8,000
Payments on line of credit 0 0 (8,000)
Net cash used in financing activities (17,190) (17,900) (112,623)
NET INCREASE IN CASH AND CASH EQUIVALENTS 80,184 44,553 40,482
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 178,690 134,137 93,655
CASH AND CASH EQUIVALENTS AT END OF PERIOD 258,874 178,690 134,137
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Unpaid property and equipment 5,937 4,355 1,818
Unpaid technology licenses 0 0 100
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid (received) for income taxes, net (Note 11) $ (1,973) $ 21,327 $ 7,437