XML 22 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash flows from operating activities:      
Net income $ 105,268 $ 65,203 $ 52,720
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of intangible assets 12,311 16,101 14,674
(Gain) loss on sales or write-off of property and equipment 22 (3) 57
Amortization of premium on available-for-sale securities 1,353 1,976 1,019
(Gain) loss on deferred compensation plan investments 255 (2,531) (1,257)
Deferred taxes, net (843) (15,238) (5)
Excess tax benefits from equity awards (1,465)
Stock-based compensation expense 60,607 52,617 44,989
Changes in operating assets and liabilities:      
Accounts receivable (18,079) (3,785) (3,421)
Inventories (37,060) (27,795) (8,323)
Other assets (1,075) 1,603 (11,021)
Accounts payable 871 3,077 5,483
Accrued compensation and related benefits 3,806 2,397 3,136
Accrued liabilities 7,092 10,852 8,035
Income tax liabilities 6,923 29,347 3,165
Net cash provided by operating activities 141,451 133,821 107,786
Cash flows from investing activities:      
Property and equipment purchases (22,526) (65,770) (37,112)
Purchases of short-term investments (99,199) (140,531) (236,912)
Proceeds from maturities and sales of short-term investments 109,131 77,502 223,344
Proceeds from sales of long-term investments 2,000
Contributions to deferred compensation plan, net (4,146) (5,261) (5,046)
Net cash used in investing activities (14,740) (134,060) (55,726)
Cash flows from financing activities:      
Property and equipment purchased on extended payment terms (749) (250) (300)
Proceeds from exercise of stock options 59 150 1,344
Proceeds from vesting of restricted stock units 10,578
Proceeds from shares issued under the employee stock purchase plan 3,028 2,701 2,463
Dividends and dividend equivalents paid (47,475) (33,926) (33,099)
Excess tax benefits from equity awards 1,465
Net cash used in financing activities (34,559) (31,325) (28,127)
Effect of change in exchange rates (2,208) 1,625 (2,093)
Net increase (decrease) in cash, cash equivalents and restricted cash 89,944 (29,939) 21,840
Cash, cash equivalents and restricted cash, beginning of period 82,874 112,813 90,973
Cash, cash equivalents and restricted cash, end of period 172,818 82,874 112,813
Supplemental disclosures for cash flow information:      
Cash paid for taxes and interest 7,134 3,619 1,234
Non-cash investing and financing activities:      
Liability accrued for property and equipment purchases 1,737 3,061 787
Liability accrued for dividends and dividend equivalents $ 16,319 $ 10,686 $ 10,416