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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 322,052 $ (149,594) $ (69,632)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 34,623 44,595 50,396
Stock-based compensation 55,153 17,725 23,587
Provision for inventory obsolescence and revaluation (2,909) 12,373 0
Loss on hedge accounting de-designation and termination 721 1,235 0
Provision for bad debts 232 457 1,308
(Gain) Loss on the disposition of businesses, property, equipment and other assets (350,846) 5,274 2,282
Provision for deferred income taxes and reserve adjustments (11,679) (1,206) (3,354)
Impairment of goodwill and assets 1,676 55,484 1,728
Changes in operating accounts:      
Accounts receivable (11,912) (6,052) 15,071
Inventories 7,866 (9,901) 18,447
Prepaid expenses and other current assets (8,106) (16,218) 9,150
Accounts payable 27,159 (6,653) (16,846)
Deferred revenue and customer deposits (3,325) 3,231 677
Accrued and other liabilities (12,389) 28,286 (1,346)
All other operating activities (169) 843 113
Net cash provided by (used in) operating activities 48,147 (20,121) 31,581
Cash flows from investing activities:      
Purchases of property and equipment (18,791) (13,643) (23,985)
Proceeds from sale of assets and businesses, net of cash 421,485 1,554 1,620
Business acquisitions, net of cash acquired (139,685) 0 0
Other investing activities (2,454) 356 (2,007)
Net cash provided by (used in) investing activities 260,555 (11,733) (24,372)
Cash flows from financing activities:      
Proceeds from revolving credit facilities 0 20,000 0
Payments on revolving credit facilities 0 (20,000) 0
Proceeds from borrowings 460,000 0 100,000
Debt issuance costs (13,466) 0 0
Repayment of borrowings/long-term debt (21,392) (26,840) (76,768)
Proceeds from issuance of common stock 0 24,702 0
Purchase of noncontrolling interests (6,300) (12,500) (2,500)
Payments related to net-share settlement of stock-based compensation (12,619) (5,138) (3,194)
Other financing activities (423) 296 (1,338)
Net cash provided by (used in) financing activities 405,800 (19,480) 16,200
Effect of exchange rate changes on cash, cash equivalents and restricted cash (9,243) 1,428 289
Net increase (decrease) in cash, cash equivalents and restricted cash 705,259 (49,906) 23,698
Cash, cash equivalents and restricted cash at the beginning of the year [1] 84,711 134,617 110,919
Cash, cash equivalents and restricted cash at the end of the year [1] 789,970 84,711 134,617
Supplemental cash flow information      
Lease assets obtained in exchange for new lease liabilities (excludes adoption) 4,502 23,309 8,662
Cash interest payments 1,138 2,109 3,715
Cash income tax payments (receipts), net 4,709 3,706 10,722
Transfer of equipment from inventory to property and equipment, net [2] 1,738 1,055 3,187
Transfer of equipment to inventory from property and equipment, net [3] 0 0 32
Stock issued for acquisition 99,044 0 0
Noncash financing activity      
Purchase of noncontrolling interest [4] $ 0 $ 0 $ (11,000)
[1] The amounts for cash and cash equivalents shown above include restricted cash of $313, $540 and $921 as of December 31, 2021, 2020 and 2019, respectively, which were included in Other assets, net, and $9,161 as of December 31, 2020, which was included in Current assets held for sale in the consolidated balance sheets.
[2] Inventory is transferred from inventory to property and equipment at cost when we require additional machines for training or demonstration or for placement into on demand manufacturing services locations.
[3] In general, an asset is transferred from Property and equipment, net, into inventory at its net book value when we have identified a potential sale for a used machine.
[4] Purchase of noncontrolling interest to be paid in installments over a four-year period recorded to Accrued and other liabilities and Other liabilities on the consolidated balance sheets.