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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net income $ 57,302 $ 37,506
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,520 13,539
Stock-based compensation expense 7,986 6,159
Deferred taxes 1,770 715
Gain on sale of business (671)
Amortization of held-to-maturity securities 336 851
Other 160 21
Changes in operating assets and liabilities:    
Accounts receivable (8,993) (10,679)
Inventories 324 (188)
Prepaid expenses and other (2,058) (1,147)
Income taxes 2,278 4,158
Accounts payable 980 1,387
Accrued liabilities and other 6,028 6,678
Net cash provided by operating activities 84,962 59,000
Investing activities    
Purchases of property, equipment and other capital assets (61,898) (24,164)
Cash used for acquisitions, net of cash acquired (90)
Proceeds from sale of business 284
Purchases of marketable securities (41,384) (20,037)
Proceeds from maturities of marketable securities 44,721 34,090
Purchases of other assets and investments (126) (514)
Net cash used in investing activities (58,493) (10,625)
Financing activities    
Payments on debt (5,000)
Proceeds from exercises of stock options and other 5,248 5,749
Repurchases of common stock (4,410)
Net cash provided by financing activities 248 1,339
Effect of exchange rate changes on cash and cash equivalents (831) 774
Net increase in cash and cash equivalents 25,886 50,488
Cash and cash equivalents, beginning of period 36,707 68,795
Cash and cash equivalents, end of period $ 62,593 $ 119,283