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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 15,511 $ 18,051
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,439 6,259
Stock-based compensation expense 3,040 2,307
Deferred taxes 379 612
Amortization of held-to-maturity securities 16 163
Other 236 106
Changes in operating assets and liabilities:    
Accounts receivable (2,386) (4,013)
Inventories 739 807
Prepaid expenses and other (211) (1,707)
Income taxes 3,006 2,387
Accounts payable (805) 2,291
Accrued liabilities and other (8,962) (1,118)
Net cash provided by operating activities 18,002 26,145
Investing activities    
Purchases of property, equipment and other capital assets (12,735) (25,513)
Cash used for acquisitions, net of cash acquired (90)
Purchases of other assets and investments (4,000)
Purchases of marketable securities (3,389)
Proceeds from maturities of marketable securities 17,006 13,551
Net cash provided by (used in) investing activities 271 (15,441)
Financing activities    
Payments on debt (5,000)
Proceeds from exercises of stock options 174 2,880
Purchases of shares withheld for tax obligations (594) (628)
Repurchases of common stock (17,309)
Net cash used in financing activities (17,729) (2,748)
Effect of exchange rate changes on cash and cash equivalents (240) 432
Net increase in cash and cash equivalents 304 8,388
Cash and cash equivalents, beginning of period 85,046 36,707
Cash and cash equivalents, end of period $ 85,350 $ 45,095