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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 04, 2020
Mar. 30, 2019
Cash Flows from Operating Activities    
Net income (loss) $ 20,294 $ (79,465)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Provision for doubtful accounts 6,486 32
Provision for excess and obsolete inventory 9,845 1,478
Depreciation 10,589 13,373
Non-cash lease expense 1,524 7,713
Accelerated depreciation of property and equipment 13 0
Amortization of intangible assets 4,029 2,060
Stock-based compensation 19,727 20,544
Deferred income taxes 46 (20)
Other 5 (50)
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable 246,499 163,592
Inventories 20,301 (50,958)
Prepaid expenses and other assets (28,073) 12,554
Increase (Decrease) in Income Taxes Receivable (139,254) 40
Fitbit Force recall reserve (41) 46
Accounts payable (104,378) (81,656)
Accrued liabilities and other liabilities (143,692) (69,962)
Lease liabilities (4,756) (4,972)
Deferred revenue (2,200) (2,259)
Income taxes payable 1,064 257
Net cash used in operating activities (81,972) (67,653)
Cash Flows from Investing Activities    
Purchase of property and equipment (3,556) (6,096)
Purchases of marketable securities (59,735) (111,615)
Maturities of marketable securities 68,191 128,309
Net cash provided by investing activities 4,900 10,598
Cash Flows from Financing Activities    
Payment of financing lease liability 0 (597)
Proceeds from issuance of common stock 458 931
Taxes paid related to net share settlement of restricted stock units (5,868) (6,422)
Net cash used in financing activities (5,410) (6,088)
Net decrease in cash and cash equivalents (82,482) (63,143)
Cash and cash equivalents at beginning of period 334,479 473,956
Cash and cash equivalents at end of period $ 251,997 $ 410,813