XML 20 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 35,245 $ 24,492
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,779 2,893
Stock-based compensation 13,360 8,839
Deferred income taxes (1,597) 1,670
Excess tax benefit on stock based-compensation (6,012) (10,569)
Amortization of investment premiums 0 487
Changes in operating assets and liabilities:    
Accounts receivable 9,144 (16,075)
Inventories 8,099 (10,706)
Prepaid expenses and other current assets 8,878 2,613
Other assets 533 (3,502)
Accounts payable (16,123) (1,936)
Accrued liabilities (14,868) (12,358)
Deferred revenue 22,412 26,356
Income taxes payable 6,802 8,985
Other liabilities 464 (422)
Net cash provided by operating activities 71,116 20,767
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (51,638) 0
Purchases of property and equipment (7,962) (5,136)
Purchases of intangible assets (670) (667)
Net cash used in investing activities (60,270) (5,803)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments of lease financing obligations (314) (255)
Proceeds from issuance of common stock upon exercising options, net of repurchases 1,862 5,322
Proceeds from issuance of common stock under employee stock purchase plan 4,888 4,856
Excess tax benefit on stock-based compensation 6,012 10,569
Issuance costs from initial public offering 0 (261)
Net cash provided by financing activities 12,448 20,231
Effect of exchange rate changes 43 (40)
NET INCREASE IN CASH AND CASH EQUIVALENTS 23,337 35,155
CASH AND CASH EQUIVALENTS—Beginning of period 687,326 240,031
CASH AND CASH EQUIVALENTS—End of period 710,663 275,186
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net of refunds 597 521
Cash paid for interest—lease financing obligation 737 757
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Property and equipment included in accounts payable and accrued liabilities $ 958 $ 657