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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net (loss) income before redeemable non-controlling interest $ (122,949) $ 322,052 $ (149,594)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation, amortization and accretion of debt discount 38,686 34,623 44,595
Stock-based compensation 42,415 55,153 17,725
Loss on short-term investments 3,146 0 0
Non-cash operating lease expense 6,366 5,681 0
Provision for inventory obsolescence and revaluation 2,586 (2,909) 12,373
Loss on hedge accounting de-designation and termination 0 721 1,235
Provision for bad debts 562 232 457
Loss (gain) on the disposition of businesses, property, equipment and other assets 104 (350,846) 5,274
Benefit for deferred income taxes and reserve adjustments (2,518) (11,679) (1,206)
Asset impairment 4,095 1,676 55,484
Changes in operating accounts:      
Accounts receivable 8,144 (11,912) (6,052)
Inventories (51,082) 7,866 (9,901)
Prepaid expenses and other current assets 8,229 (8,106) (16,218)
Accounts payable (3,787) 27,159 (6,653)
Deferred revenue and customer deposits (6,947) (3,325) 3,231
Accrued and other liabilities 10,702 (12,389) 28,286
All other operating activities (7,773) (5,850) 843
Net cash (used in) provided by operating activities (70,021) 48,147 (20,121)
Cash flows from investing activities:      
Purchases of property and equipment (20,907) (18,791) (13,643)
Purchases of short-term investments (384,388) 0 0
Sales and maturities of short-term investments 200,314 0 0
Proceeds from sale of assets and businesses, net of cash sold 325 421,485 1,554
Acquisitions and other investments, net of cash acquired (103,699) (139,685) 0
Other investing activities 0 (2,454) 356
Net cash (used in) provided by investing activities (308,355) 260,555 (11,733)
Cash flows from financing activities:      
Proceeds from revolving credit facilities 0 0 20,000
Payments on revolving credit facilities 0 0 (20,000)
Proceeds from borrowings 0 460,000 0
Debt issuance costs 0 (13,466) 0
Repayment of borrowings/long-term debt 0 (21,392) (26,840)
Proceeds from issuance of common stock 0 0 24,702
Purchase of non-controlling interests (2,300) (6,300) (12,500)
Taxes paid related to net-share settlement of equity awards (10,864) (12,619) (5,138)
Other financing activities (651) (423) 296
Net cash (used in) provided by financing activities (13,815) 405,800 (19,480)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,804) (9,243) 1,428
Net (decrease) increase in cash, cash equivalents and restricted cash (397,995) 705,259 (49,906)
Cash, cash equivalents and restricted cash at the beginning of the year [1] 789,970 84,711 134,617
Cash, cash equivalents and restricted cash at the end of the year [1] 391,975 789,970 84,711
Supplemental cash flow information      
Lease assets obtained in exchange for new lease liabilities 6,037 4,502 23,309
Cash interest payments 196 1,138 2,109
Cash income tax payments, net 5,330 4,709 3,706
Transfer of equipment from inventory to property and equipment, net [2] (2,004) 1,738 1,055
Stock issued for acquisition $ 7,091 $ 99,044 $ 0
[1] The amounts for cash and cash equivalents shown above include restricted cash of $114, $313 and $540 as of December 31, 2022, 2021 and 2020, respectively, which are included in prepaid expenses and other current assets. In addition, included in cash and cash equivalents above as of December 31, 2022 is $3,727 of restricted cash, which, is included in other non-current assets. Finally, included in cash and cash equivalents above as of December 31, 2020 is $9,161, which was included in current assets held for sale.
[2] Inventory is transferred to property and equipment at cost when we require additional machines for training or demonstration or for placement into on demand manufacturing services locations.