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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 142,061 $ 95,143
Adjustments to reconcile net profit to net cash provided by operating activities:    
Deferred taxes (17,476) (4,646)
Depreciation and amortization 16,786 13,141
Stock-based compensation 39,934 39,135
Tax (shortfalls) benefits from stock-based awards 13,057 8,663
Excess tax benefit from share-based payment arrangements (13,943) (8,663)
Equity in losses of investee, net of tax 477 0
Other non-cash operating activities 9,525 9,252
Changes in assets and liabilities, net of acquired assets and liabilities:    
Accounts receivable (93,122) (27,123)
Inventories (6,873) (3,033)
Prepaid expenses and other assets (5,069) (2,529)
Accounts payable (4,134) 4,408
Accrued and other long-term liabilities 38,969 6,712
Deferred revenues 46,482 28,182
Net cash provided by operating activities 166,674 158,642
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (56,368) (36,663)
Purchase of marketable securities (283,797) (306,938)
Proceeds from maturities of marketable securities 328,498 238,412
Purchase of equity method investments (46,745) 0
Proceeds from sales of marketable securities 209,302 12,518
Other investing activities (8,031) 46
Net cash used in investing activities 142,859 (92,625)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 12,877 10,559
Common stock repurchases (58,174) (90,603)
Excess tax benefit from share-based payment arrangements 13,943 8,663
Employees’ taxes paid upon the vesting of restricted stock units (26,265) (17,574)
Net cash used in financing activities (57,619) (88,955)
Effect of foreign exchange rate changes on cash and cash equivalents 320 (2,893)
Net increase (decrease) in cash and cash equivalents 252,234 (25,831)
Cash and cash equivalents, beginning of the period 167,714 $ 199,871
Cash and cash equivalents, end of the period $ 419,948