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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES:    
Net income $ 28,410 $ 77,689
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 61,969 59,336
Deferred income tax provision 1,726 7,542
Share-based compensation 8,891 13,027
Amortization of debt issuance costs and expenses associated with debt refinancing 3,314 3,392
Non-cash lease expense 1,751 1,393
Loss (gain) on disposal of property and equipment (104) 732
Change in fair value of contingent consideration and others 6,081 (5,799)
Changes in assets and liabilities:    
Accounts receivable 4,826 (9,632)
Inventories (27,555) (17,576)
Prepaid expenses and other current assets (10,512) (4,120)
Other non-current assets (8,184) 6,738
Accounts payable, accrued expenses and other current liabilities (15,899) (14,556)
Contract liabilities 724 774
Other non-current liabilities (1,003) (8,118)
Net cash provided by operating activities 54,435 110,822
INVESTING ACTIVITIES:    
Purchases of property and equipment (29,252) (18,732)
Acquired in-process research and development milestone 0 (4,742)
Net proceeds from swaps designated as net investment hedges 0 4,909
Net cash used in investing activities (29,252) (18,565)
FINANCING ACTIVITIES:    
Proceeds from borrowings of long-term indebtedness 15,200 23,000
Payments on debt (29,100) (23,000)
Payment of debt issuance costs (7,578) 0
Purchases of treasury stock (150,000) (125,000)
Proceeds from exercised stock options 3,437 1,592
Cash taxes paid in net equity settlement (5,335) (23,204)
Net cash used in financing activities (173,376) (146,612)
Effect of exchange rate changes on cash and cash equivalents 724 (11,941)
Net decrease in cash and cash equivalents (147,469) (66,296)
Cash and cash equivalents at beginning of period 456,661 513,448
Cash and cash equivalents at end of period $ 309,192 $ 447,152