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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities:      
Net income $ 108,839 $ 105,268 $ 65,203
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14,867 12,311 16,101
(Gain) loss on disposal and sale of property and equipment, net (259) 22 (3)
Amortization of premium on available-for-sale securities 729 1,353 1,976
(Gain) loss on deferred compensation plan investments (3,806) 255 (2,531)
Deferred taxes, net (577) (843) (15,238)
Stock-based compensation expense 78,699 60,607 52,617
Changes in operating assets and liabilities:      
Accounts receivable 2,512 (18,079) (3,785)
Inventories 8,865 (37,060) (27,795)
Other assets (10,204) (1,075) 1,603
Accounts payable 3,048 871 3,077
Accrued compensation and related benefits 7,496 3,806 2,397
Accrued liabilities 7,449 7,092 10,852
Income tax liabilities (1,355) 6,923 29,347
Net cash provided by operating activities 216,303 141,451 133,821
Cash flows from investing activities:      
Purchases of property and equipment (95,806) (22,526) (65,770)
Acquisition of in-place leases (981) 0 0
Purchases of short-term investments (212,562) (99,199) (140,531)
Proceeds from maturities and sales of short-term investments 135,801 109,131 77,502
Proceeds from sales of long-term investments 250 2,000 0
Proceeds from sales of property and equipment 9,268 0 0
Contributions to deferred compensation plan, net (3,082) (4,146) (5,261)
Net cash used in investing activities (167,112) (14,740) (134,060)
Cash flows from financing activities:      
Property and equipment purchased on extended payment terms (683) (749) (250)
Proceeds from common stock issued under the employee equity incentive plan 16,650 10,637 150
Proceeds from common stock issued under the employee stock purchase plan 3,277 3,028 2,701
Dividends and dividend equivalents paid (67,294) (47,475) (33,926)
Net cash used in financing activities (48,050) (34,559) (31,325)
Effect of change in exchange rates (883) (2,208) 1,625
Net increase (decrease) in cash, cash equivalents and restricted cash 258 89,944 (29,939)
Cash, cash equivalents and restricted cash, beginning of period 172,818 82,874 112,813
Cash, cash equivalents and restricted cash, end of period 173,076 172,818 82,874
Supplemental disclosures for cash flow information:      
Cash paid for taxes 10,700 7,134 3,619
Non-cash investing and financing activities:      
Liability accrued for property and equipment purchases 7,803 1,737 3,061
Liability accrued for dividends and dividend equivalents $ 21,955 $ 16,319 $ 10,686