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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows provided by operating activities:    
Net income $ 78,916 $ 50,888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 10,646 8,147
Amortization of intangible assets 4,615 4,895
Amortization of premium and accretion of discount on available-for-sale marketable securities, net 373 (12)
Stock-based compensation expenses 26,734 21,076
Deferred income tax benefit, net (6,424) (1,960)
Other adjustments, net (1) 643
Changes in assets and liabilities:    
Inventories, net (94,230) 1,723
Prepaid expenses and other assets 37,066 (2,574)
Trade receivables, net 116,045 (56,562)
Operating lease right-of-use assets and liabilities, net and effect of exchange rate differences (451) 1,466
Trade payables, net (1,823) 5,493
Employees and payroll accruals 1,457 5,151
Warranty obligations 20,198 28,860
Deferred revenues and customers advances (31,834) 11,764
Other liabilities 5,768 28,236
Net cash provided by operating activities 167,055 107,234
Cash flows from investing activities:    
Proceeds from sales and maturities of available-for-sale marketable securities 89,739 68,407
Purchase of property, plant and equipment (53,706) (22,244)
Investment in available-for-sale marketable securities (36,815) (63,655)
Withdrawal from (investment in) restricted bank deposits 25,634 (203)
Business combination, net of cash acquired (38,435)
Other investing activities 2,024 3,909
Net cash provided by (used in) in investing activities 26,876 (52,221)
Cash flows from financing activities:    
Repayment of bank loans (15,119) (4,891)
Proceeds from bank loans 15,113 216
Proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards 9,114 3,764
Change in non-controlling interests (66,474)
Other financing activities (112)
Net cash provided by (used in) financing activities 8,996 (67,385)
Increase (decrease) in cash and cash equivalents 202,927 (12,372)
Cash and cash equivalents at the beginning of the period 223,901 187,764
Effect of exchange rate differences on cash and cash equivalents 1,544 1,183
Cash and cash equivalents at the end of the period 428,372 176,575
Supplemental disclosure of non-cash activities:    
Purchase of property, plant and equipment 8,070
Operating lease, right of use asset $ 980 $ 38,374