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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 45,413 $ 35,756
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,529 4,328
Amortization of premium on available-for-sale securities 813 494
(Gain) loss on deferred compensation plan investments (1,177) 3,750
Deferred taxes, net 1,004 3,412
Stock-based compensation expense 28,583 18,562
Other 5 (1)
Changes in operating assets and liabilities:    
Accounts receivable (17,236) (1,635)
Inventories (18,151) (3,994)
Other assets (2,215) (10,061)
Accounts payable 13,513 7,185
Accrued compensation and related benefits 10,609 (7,374)
Income tax liabilities 1,800 34
Other accrued liabilities 8,567 963
Net cash provided by operating activities 77,057 51,419
Cash flows from investing activities:    
Purchases of property and equipment (18,970) (9,951)
Purchases of short-term investments (201,517) (101,566)
Proceeds from maturities and sales of short-term investments 38,472 47,397
Proceeds from sales of long-term investments 25 100
Contributions to deferred compensation plan, net (876) (438)
Net cash used in investing activities (182,866) (64,458)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (563) (279)
Proceeds from common stock issued under the employee equity incentive plan 10,744 11,758
Proceeds from common stock issued under the employee stock purchase plan 2,293 1,892
Dividends and dividend equivalents paid (23,467) (17,427)
Net cash used in financing activities (10,993) (4,056)
Effect of change in exchange rates 218 (985)
Net decrease in cash, cash equivalents and restricted cash (116,584) (18,080)
Cash, cash equivalents and restricted cash, beginning of period 335,071 173,076
Cash, cash equivalents and restricted cash, end of period 218,487 154,996
Supplemental disclosures for cash flow information:    
Cash paid for taxes 377 279
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 12,963 10,909
Liability accrued for dividends and dividend equivalents $ 29,000 $ 23,725