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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 21,462 $ 41,288
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30,231 23,891
Stock-based compensation expense 15,539 10,617
Deferred taxes (139) 6,578
Amortization of marketable securities 374 202
Realized gain on available-sale-securities (72) 0
Fair value of contingent consideration (8,513) 0
Other 140 (865)
Changes in operating assets and liabilities:    
Accounts receivable (25,615) (3,812)
Inventories 950 (316)
Prepaid expenses and other 1,009 (1,008)
Income taxes (1,226) (1,325)
Accounts payable 1,978 (1,257)
Accrued liabilities and other (3,893) 8,382
Net cash provided by operating activities 32,225 82,375
Investing activities    
Purchases of property, equipment and other capital assets (27,956) (40,489)
Cash used for acquisitions, net of cash acquired (127,413) 0
Purchases of other assets and investments 0 (3,000)
Purchases of marketable securities (15,159) (90,596)
Proceeds from sales of marketable securities 57,089 0
Proceeds from maturities of marketable securities 15,114 56,428
Net cash used in investing activities (98,325) (77,657)
Financing activities    
Proceeds from exercises of stock options 3,838 5,674
Purchases of shares withheld for tax obligations (4,209) (3,367)
Repurchases of common stock (13,036) (14,686)
Principal repayments of finance lease obligations (413) 0
Net cash used in financing activities (13,820) (12,379)
Effect of exchange rate changes on cash and cash equivalents 119 690
Net decrease in cash and cash equivalents (79,801) (6,971)
Cash and cash equivalents, beginning of period 127,603 125,225
Cash and cash equivalents, end of period $ 47,802 $ 118,254