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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 140,104 $ 134,085
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51,342 53,038
Amortization of premium (discount) on marketable securities 4,446 1,763
Write-down for excess and obsolete inventories, net 5,890 5,570
Stock-based compensation expense 24,303 22,781
Allowance for doubtful accounts (396) 883
Change in fair value of business acquisition liabilities (2,043) 14,336
Change in deferred income taxes (17,014) (3,131)
(Gain)/loss on disposal of assets, net 241 383
Payment of business acquisition related liabilities (2,021)  
(Increase)/decrease in:    
Accounts receivable (46,200) (19,928)
Inventories (48,650) (9,161)
Prepaid expenses and other assets (6,866) (794)
Increase/(decrease) in:    
Accounts payable 10,407 2,521
Accrued expenses and other liabilities 1,660 7,500
Income taxes payable/receivable (710) (9,825)
Net cash provided by/(used in) operating activities 114,493 200,021
Cash flows from investing activities:    
Purchases of marketable securities (322,100) (347,057)
Maturities of marketable securities 239,126 171,886
Sales of marketable securities 89,978 82,882
Purchases of property and equipment (55,707) (39,853)
Acquisition of businesses, net of cash acquired and purchases of intangible and other assets (1,175)  
Net cash provided by/(used in) investing activities (49,878) (132,142)
Cash flows from financing activities:    
Payment of business acquisition liabilities (5,288) (4,763)
Proceeds from exercise of stock options 26,228 59,933
Repurchase of common stock (144,493)  
Net cash provided by/(used in) financing activities (123,553) 55,170
Effect of foreign exchange rates on cash 92 (570)
Net increase/(decrease) in cash and cash equivalents (58,846) 122,479
Cash and cash equivalents at beginning of period 193,069 239,397
Cash and cash equivalents at end of period 134,223 361,876
Supplemental disclosures of cash flow information:    
Income taxes paid 58,301 39,450
Purchases of property and equipment included in accounts payable and accrued expenses $ 5,341 $ 3,491