XML 65 R7.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 321,514 $ 302,843
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes 1,470 2,047
Depreciation and amortization 57,194 38,185
Non-cash operating lease cost 13,600  
Impairments on long-lived assets 28,498 0
Gain on lease terminations (6,792)  
Impairment on equity investment 3,975 0
Gain from sale of equity method investment (15,769) 0
Stock-based compensation 67,687 51,918
Equity in losses of investee 7,528 6,610
Other non-cash operating activities 17,426 11,363
Changes in assets and liabilities:    
Accounts receivable (95,566) (89,843)
Inventories (40,775) (17,192)
Prepaid expenses and other assets (14,826) (47,775)
Accounts payable 1,343 5,042
Accrued and other long-term liabilities 31,089 (25,436)
Long-term income tax payable 13,425 (18,435)
Deferred revenues 138,072 94,059
Net cash provided by operating activities 529,093 313,386
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (107,157) (169,033)
Purchase of marketable securities (588,805) (150,022)
Proceeds from maturities of marketable securities 211,829 259,870
Proceeds from sales of marketable securities 194,677 9,560
Purchase of investments in privately held companies 0 (5,000)
Note repayment from privately held company 13,185 0
Loan repayment from equity investee 0 30,000
Other investing activities (14,062) 604
Net cash used in investing activities (290,333) (24,021)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 17,907 16,607
Common stock repurchases (299,504) (250,002)
Employees’ taxes paid upon the vesting of restricted stock units (55,793) (81,756)
Purchase of finance lease (45,773) 0
Net cash used in financing activities (383,163) (315,151)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (2,098) (2,890)
Net decrease in cash, cash equivalents, and restricted cash (146,501) (28,676)
Cash, cash equivalents, and restricted cash at beginning of the period 637,566 450,125
Cash, cash equivalents, and restricted cash at end of the period $ 491,065 $ 421,449