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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 79,566 $ 45,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,115 5,529
Amortization of premium on available-for-sale securities 1,348 813
(Gain) loss on deferred compensation plan investments 2,192 (1,177)
Deferred taxes, net (381) 1,004
Stock-based compensation expense 39,811 28,583
Other 5 5
Changes in operating assets and liabilities:    
Accounts receivable (15,506) (17,236)
Inventories (51,797) (18,151)
Other assets (5,916) (2,215)
Accounts payable (4,177) 13,513
Accrued compensation and related benefits 27,382 10,609
Income tax liabilities 16,017 1,800
Other accrued liabilities 9,760 8,567
Net cash provided by operating activities 107,419 77,057
Cash flows from investing activities:    
Purchases of property and equipment (26,877) (18,970)
Purchases of short-term investments (16,243) (201,517)
Maturities and sales of short-term investments 32,242 38,472
Sales of long-term investments 25 25
Contributions to deferred compensation plan, net (760) (876)
Net cash used in investing activities (11,613) (182,866)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (528) (563)
Proceeds from common stock issued under the employee equity incentive plan 2,318 10,744
Proceeds from common stock issued under the employee stock purchase plan 2,786 2,293
Dividends and dividend equivalents paid (28,825) (23,467)
Net cash used in financing activities (24,249) (10,993)
Effect of change in exchange rates (220) 218
Net increase (decrease) in cash, cash equivalents and restricted cash 71,337 (116,584)
Cash, cash equivalents and restricted cash, beginning of period 189,389 335,071
Cash, cash equivalents and restricted cash, end of period 260,726 218,487
Supplemental disclosures for cash flow information:    
Cash paid for taxes 244 377
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 6,122 12,963
Liability accrued for dividends and dividend equivalents $ 36,611 $ 29,000