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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 31,677 $ 36,365
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,981 12,749
Stock-based compensation expense 6,526 5,034
Deferred taxes 1,585 1,620
Gain on sale of businesses 0 (671)
Amortization of held-to-maturity securities 7 276
Other (279) 7
Changes in operating assets and liabilities:    
Accounts receivable (3,461) (2,648)
Inventories 392 389
Prepaid expenses and other 24 (1,059)
Income taxes 4,833 133
Accounts payable 3,848 4,408
Accrued liabilities and other (5,245) 2,714
Net cash provided by operating activities 54,888 59,317
Investing activities    
Purchases of property, equipment and other capital assets (34,136) (43,194)
Cash used for acquisitions, net of cash acquired 0 (90)
Proceeds from sale of business 0 284
Purchases of other assets and investments (4,000) 0
Purchases of marketable securities (8,983) (17,129)
Proceeds from maturities of marketable securities 29,170 29,056
Net cash used in investing activities (17,949) (31,073)
Financing activities    
Payments on debt 0 (5,000)
Proceeds from exercises of stock options 2,243 4,696
Purchases of shares withheld for tax obligations (2,418) (1,390)
Repurchases of common stock (21,410) 0
Net cash used in financing activities (21,585) (1,694)
Effect of exchange rate changes on cash and cash equivalents 135 (652)
Net increase in cash and cash equivalents 15,489 25,898
Cash and cash equivalents, beginning of period 85,046 36,707
Cash and cash equivalents, end of period $ 100,535 $ 62,605