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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 442,776 $ 400,235 $ 231,418
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred taxes 307 (15,680) 17,572
Depreciation and amortization 78,990 54,727 37,739
Stock-based compensation 88,184 70,763 58,854
Non-cash operating lease cost 18,475    
Impairments and other (gains) charges 28,498 0 0
Gain on lease terminations (6,792)    
Gain from sale of equity method investment (15,769) 0 0
Equity in losses of investee 7,528 8,693 3,219
Other non-cash operating activities 29,860 17,252 13,847
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable (121,014) (109,224) (90,990)
Inventories (58,269) (24,109) (5,481)
Prepaid expenses and other assets (31,529) (9,122) (8,669)
Accounts payable 22,099 25,045 8,175
Accrued and other long-term liabilities 60,240 36,250 24,235
Long-term income tax payable 14,611 (36,548) 68,958
Deferred revenues 189,075 136,399 79,662
Net cash provided by operating activities 747,270 554,681 438,539
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (149,707) (223,312) (195,695)
Purchase of marketable securities (693,284) (180,191) (390,244)
Proceeds from maturities of marketable securities 290,754 375,105 349,240
Proceeds from sales of marketable securities 194,677 9,560 39,536
Repayment on unsecured promissory note 21,820 0 0
Purchases of investments in privately held companies 0 (5,000) (12,764)
Loan advances to equity investee 0 0 (36,000)
Loan repayment from equity investee 0 30,000 6,000
Acquisition, net of cash acquired 0 0 (8,953)
Other investing activities (14,704) 765 (2,597)
Net cash provided by (used in) investing activities (350,444) 6,927 (251,477)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 17,907 16,635 14,461
Common stock repurchases (399,999) (300,002) (103,793)
Payroll taxes paid upon the vesting of equity awards (57,675) (86,067) (46,168)
Purchase of finance lease (45,773)    
Net cash used in financing activities (485,540) (369,434) (135,500)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 2,282 (4,733) 5,544
Net increase (decrease) in cash, cash equivalents, and restricted cash (86,432) 187,441 57,106
Cash, cash equivalents, and restricted cash at beginning of year 637,566 450,125 393,019
Cash, cash equivalents, and restricted cash at end of the period $ 551,134 $ 637,566 $ 450,125