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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 242,023 $ 164,375 $ 108,839
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 28,699 19,186 14,867
Amortization of premium on available-for-sale securities 4,674 2,979 729
Gain on deferred compensation plan investments (4,563) (4,592) (3,806)
Deferred taxes, net (2,772) (1,627) (577)
Stock-based compensation expense 123,479 85,551 78,699
Other 110 (1,072) (259)
Changes in operating assets and liabilities:      
Accounts receivable (37,976) (14,123) 2,512
Inventories (102,323) (29,503) 8,865
Other assets (15,311) (3,003) (10,204)
Accounts payable 32,926 10,410 3,048
Accrued compensation and related benefits 16,536 18,524 7,496
Income tax liabilities 11,771 747 (1,355)
Other accrued liabilities 22,737 19,951 7,449
Net cash provided by operating activities 320,010 267,803 216,303
Cash flows from investing activities:      
Purchases of property and equipment (94,445) (55,639) (95,806)
Sales of property and equipment 25 29 9,268
Purchases of short-term investments (394,886) (334,947) (212,562)
Maturities and sales of short-term investments 113,255 357,092 135,801
Purchases of long-term investments 0 (3,316) 0
Sales of long-term investments 500 300 250
Contributions to deferred compensation plan, net (2,542) (2,696) (3,082)
Purchases of intangible assets (793) 0 (981)
Net cash used in investing activities (378,886) (39,177) (167,112)
Cash flows from financing activities:      
Property and equipment purchased on extended payment terms (2,834) (5,357) (683)
Proceeds from common stock issued under the employee equity incentive plan 17,322 18,767 16,650
Proceeds from common stock issued under the employee stock purchase plan 4,670 3,819 3,277
Dividends and dividend equivalents paid (109,364) (88,786) (67,294)
Net cash used in financing activities (90,206) (71,557) (48,050)
Effect of change in exchange rates 3,400 4,926 (883)
Net increase (decrease) in cash, cash equivalents and restricted cash (145,682) 161,995 258
Cash, cash equivalents and restricted cash, beginning of period 335,071 173,076 172,818
Cash, cash equivalents and restricted cash, end of period 189,389 335,071 173,076
Supplemental disclosures for cash flow information:      
Cash paid for taxes 21,148 1,405 10,700
Non-cash investing and financing activities:      
Liability accrued for property and equipment purchases 17,877 7,839 7,803
Liability accrued for dividends and dividend equivalents $ 33,059 $ 27,507 $ 21,955