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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Cash Flows from Operating Activities    
Net loss $ (199,876) $ (201,201)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for doubtful accounts 29 37
Provision for inventory obsolescence 5,163 9,019
Depreciation 43,215 35,388
Non-cash lease expense 17,961 0
Write-off of property and equipment 169 7,513
Amortization of intangible assets 6,100 5,866
Stock-based compensation 59,175 73,613
Deferred income taxes 618 (1,690)
Impairment of equity investment 0 6,000
Other (50) (693)
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable 68,617 80,227
Inventories (125,500) (80,064)
Prepaid expenses and other assets 11,872 123,356
Fitbit Force recall reserve 242 (395)
Accounts payable 11,826 16,357
Accrued liabilities and other liabilities (61,005) (67,813)
Lease liabilities (20,975) 0
Deferred revenue (2,586) (9,649)
Income taxes payable (107) 5,653
Net cash provided by (used in) operating activities (185,112) 1,524
Cash Flows from Investing Activities    
Purchase of property and equipment (26,277) (40,174)
Purchases of marketable securities (287,969) (284,986)
Sales of marketable securities 2,016 93,020
Maturities of marketable securities 322,132 309,323
Acquisition, net of cash acquired (2,625) (13,646)
Net cash provided by investing activities 7,277 63,537
Cash Flows from Financing Activities    
Repayment of debt 0 (747)
Payment of financing lease liability (2,239) 0
Proceeds from issuance of common stock 7,044 11,641
Taxes paid related to net share settlement of restricted stock units (13,495) (15,684)
Net cash used in financing activities (8,690) (4,790)
Net increase (decrease) in cash and cash equivalents (186,525) 60,271
Cash and cash equivalents at beginning of period 473,956 341,966
Cash and cash equivalents at end of period $ 287,431 $ 402,237