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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 92,674 $ 86,874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,764 36,287
Amortization of premium (discount) on marketable securities 3,208 1,131
Write-down for excess and obsolete inventories, net 4,068 5,000
Stock-based compensation expense 15,989 15,330
Allowance for doubtful accounts (528) 590
Change in fair value of business acquisition liabilities (1,390) 14,128
Change in deferred income taxes (7,939) (1,783)
(Gain)/loss on disposal of assets, net 200 191
Payment of business acquisition related liabilities (1,099)  
(Increase)/decrease in:    
Accounts receivable (30,224) (25,587)
Inventories (31,421) (6,024)
Prepaid expenses and other assets 1,268 845
Increase/(decrease) in:    
Accounts payable 12,375 2,737
Accrued expenses and other liabilities (7,408) 3,559
Income taxes payable/receivable (1,964) (10,519)
Net cash provided by/(used in) operating activities 81,573 122,759
Cash flows from investing activities:    
Purchases of marketable securities (179,096) (293,092)
Maturities of marketable securities 170,572 131,739
Sales of marketable securities 66,655 58,154
Purchases of property and equipment (43,724) (22,058)
Acquisition of businesses, net of cash acquired and purchases of intangible and other assets (1,175)  
Net cash provided by/(used in) investing activities 13,232 (125,257)
Cash flows from financing activities:    
Payment of business acquisition liabilities (3,553) (3,105)
Proceeds from exercise of stock options 11,331 35,597
Repurchase of common stock (144,493)  
Net cash provided by/(used in) financing activities (136,715) 32,492
Effect of foreign exchange rates on cash (387) (608)
Net increase/(decrease) in cash and cash equivalents (42,297) 29,386
Cash and cash equivalents at beginning of period 193,069 239,397
Cash and cash equivalents at end of period 150,772 268,783
Supplemental disclosures of cash flow information:    
Income taxes paid 36,696 31,597
Purchases of property and equipment included in accounts payable and accrued expenses $ 5,019 $ 3,537