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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 231,418 $ 189,682 $ 144,020
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred taxes 17,572 (16,401) (11,424)
Depreciation and amortization 37,739 24,002 18,004
Stock-based compensation 58,854 54,148 52,943
Net tax benefits from stock-based awards 0 15,888 10,224
Excess tax benefit from share-based payment arrangements 0 (16,773) (10,396)
Equity in losses of investee 3,219 1,684 0
Other non-cash operating activities 13,847 12,031 13,799
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable (90,990) (94,444) (40,775)
Inventories (5,481) (7,663) (3,563)
Prepaid expenses and other assets (8,669) (9,390) (3,726)
Accounts payable 8,175 (3,395) 7,575
Accrued and other long-term liabilities 24,235 30,007 12,532
Long-term income tax payable 68,958 7,622 6,930
Deferred revenues 79,662 60,656 41,854
Net cash provided by operating activities 438,539 247,654 237,997
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition, net of cash acquired (8,953) 0 0
Purchase of property, plant and equipment (195,695) (70,576) (53,451)
Purchase of marketable securities (390,244) (405,612) (447,092)
Proceeds from maturities of marketable securities 349,240 387,873 304,125
Purchase of equity method investments (12,764) (46,745) 0
Proceeds from sales of marketable securities 39,536 216,119 30,011
Loan advances to equity investee (36,000) 0 0
Loan repayment from equity investee 6,000 0 0
Other investing activities 567 (8,211) 46
Net cash provided by (used in) investing activities (248,313) 72,848 (166,361)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 14,461 13,778 11,325
Common stock repurchases (103,793) (96,218) (101,791)
Excess tax benefit from share-based payment arrangements 0 16,773 10,396
Employees’ taxes paid upon the vesting of restricted stock units (46,168) (29,857) (20,716)
Net cash used in financing activities (135,500) (95,524) (100,786)
Effect of foreign exchange rate changes on cash and cash equivalents 5,510 (3,417) (3,007)
Net increase (decrease) in cash and cash equivalents 60,236 221,561 (32,157)
Cash and cash equivalents, beginning of year 389,275 167,714 199,871
Cash and cash equivalents, end of year $ 449,511 $ 389,275 $ 167,714