XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 121,488 $ 76,402
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,785 10,817
(Gain) loss on disposal and sale of property and equipment, net 15 (282)
Amortization of premium on available-for-sale securities 1,984 384
Gain on deferred compensation plan investments (1,420) (2,630)
Deferred taxes, net 3,400 (18)
Stock-based compensation expense 62,581 60,019
Changes in operating assets and liabilities:    
Accounts receivable (40,826) (3,048)
Inventories (20,533) 754
Other assets (6,376) (5,849)
Accounts payable 19,811 7,173
Accrued compensation and related benefits 21,780 10,328
Income tax liabilities (1,805) (6,186)
Other accrued liabilities 14,271 7,453
Net cash provided by operating activities 188,155 155,317
Cash flows from investing activities:    
Purchases of property and equipment (44,158) (87,129)
Acquisition of in-place leases 0 (981)
Purchases of short-term investments (270,797) (106,409)
Proceeds from maturities and sales of short-term investments 182,355 98,814
Proceeds from sales of long-term investments 250 125
Proceeds from sales of property and equipment 29 9,268
Contributions to deferred compensation plan, net (1,116) (1,797)
Net cash used in investing activities (133,437) (88,109)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (4,437) (204)
Proceeds from common stock issued under the employee equity incentive plan 16,457 14,561
Proceeds from common stock issued under the employee stock purchase plan 3,819 3,277
Dividends and dividend equivalents paid (65,477) (48,641)
Net cash used in financing activities (49,638) (31,007)
Effect of change in exchange rates 1,432 (2,516)
Net increase in cash, cash equivalents and restricted cash 6,512 33,685
Cash, cash equivalents and restricted cash, beginning of period 173,076 172,818
Cash, cash equivalents and restricted cash, end of period 179,588 206,503
Supplemental disclosures for cash flow information:    
Cash paid for taxes 1,036 9,472
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 9,355 4,969
Liability accrued for dividends and dividend equivalents $ 26,429 $ 20,866