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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 65,922 $ 46,874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,829 6,994
Loss on disposal and sale of property and equipment, net 3 15
Amortization of premium on available-for-sale securities 1,121 216
(Gain) loss on deferred compensation plan investments 178 (2,555)
Deferred taxes, net 3,400 (20)
Stock-based compensation expense 39,606 38,719
Changes in operating assets and liabilities:    
Accounts receivable (2,428) (176)
Inventories (24,580) (7,205)
Other assets (10,001) (42)
Accounts payable 15,489 2,153
Accrued compensation and related benefits 6,773 4,124
Income tax liabilities (61) (6,627)
Other accrued liabilities 6,498 423
Net cash provided by operating activities 110,749 82,893
Cash flows from investing activities:    
Purchases of property and equipment (24,536) (77,638)
Acquisition of in-place leases 0 (981)
Purchases of short-term investments (189,637) (21,546)
Proceeds from maturities and sales of short-term investments 118,701 57,999
Proceeds from sales of long-term investments 125 75
Proceeds from sales of property and equipment 1 1,456
Contributions to deferred compensation plan, net (775) (1,435)
Net cash used in investing activities (96,121) (42,070)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (4,061) (3)
Proceeds from common stock issued under the employee equity incentive plan 14,110 12,471
Proceeds from common stock issued under the employee stock purchase plan 1,892 1,627
Dividends and dividend equivalents paid (42,267) (30,784)
Net cash used in financing activities (30,326) (16,689)
Effect of change in exchange rates (777) 175
Net increase (decrease) in cash, cash equivalents and restricted cash (16,475) 24,309
Cash, cash equivalents and restricted cash, beginning of period 173,076 172,818
Cash, cash equivalents and restricted cash, end of period 156,601 197,127
Supplemental disclosures for cash flow information:    
Cash paid for taxes 633 7,168
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 7,258 3,028
Liability accrued for dividends and dividend equivalents $ 25,044 $ 19,749