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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 194,245 $ 100,582
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,675 12,649
Amortization of premium on available-for-sale securities 2,580 1,926
(Gain) loss on deferred compensation plan investments 7,277 (3,039)
Deferred taxes, net (1,383) 1,005
Stock-based compensation expense 82,726 60,710
Other 15 5
Changes in operating assets and liabilities:    
Accounts receivable (20,710) (10,719)
Inventories (100,434) (20,237)
Other assets 51 (4,109)
Accounts payable 6,138 12,791
Accrued compensation and related benefits 24,526 9,398
Income tax liabilities (1,751) 1,640
Other accrued liabilities 701 11,401
Net cash provided by operating activities 212,656 174,003
Cash flows from investing activities:    
Purchases of property and equipment (38,721) (58,268)
Purchases of short-term investments (16,243) (255,343)
Purchases of long-term investments (2,085) 0
Maturities and sales of short-term investments 65,793 62,789
Sales of long-term investments 200 300
Contributions to deferred compensation plan, net (2,275) (1,686)
Net cash provided by (used in) investing activities 6,669 (252,208)
Cash flows from financing activities:    
Property and equipment purchased on extended payment terms (1,190) (1,140)
Proceeds from common stock issued under the employee equity incentive plan 3,331 12,920
Proceeds from common stock issued under the employee stock purchase plan 2,786 2,293
Dividends and dividend equivalents paid (65,294) (52,222)
Net cash used in financing activities (60,367) (38,149)
Effect of change in exchange rates (5,362) 1,615
Net increase (decrease) in cash, cash equivalents and restricted cash 153,596 (114,739)
Cash, cash equivalents and restricted cash, beginning of period 189,389 335,071
Cash, cash equivalents and restricted cash, end of period 342,985 220,332
Supplemental disclosures for cash flow information:    
Cash paid for taxes 41,137 9,023
Non-cash investing and financing activities:    
Liability accrued for property and equipment purchases 2,968 10,719
Liability accrued for dividends and dividend equivalents $ 38,260 $ 30,564