XML 22 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 184,189 $ 121,102 $ 86,850
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 19,749 13,671 10,021
Stock-based compensation 59,032 45,303 27,619
Deferred income taxes (21,720) (24,409) (6,774)
Excess tax benefit on stock based-compensation (42,855) (37,251) (17,436)
Amortization of investment premiums 1,493 1,471 348
Realized gain on notes receivable 0 0 (4,000)
Amortization of debt discount 0 0 527
Write-off of debt discount on notes payable 0 0 680
Changes in operating assets and liabilities:      
Accounts receivable, net (108,856) (47,281) (18,984)
Inventories (144,361) (14,123) (13,425)
Prepaid expenses and other current assets (115,074) (7,827) (15,257)
Other assets 2,866 (3,087) (4,261)
Accounts payable 38,678 9,037 14,007
Accrued liabilities 30,629 20,398 18,874
Deferred revenue 176,126 90,340 47,564
Income taxes payable 42,650 32,018 4,377
Other liabilities 8,894 1,171 2,105
Interest payable 0 0 (960)
Net cash provided by operating activities 131,440 200,533 131,875
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from marketable securities 137,855 208,200 0
Purchases of marketable securities (439,711) 0 (210,019)
Purchases of property and equipment (21,419) (19,989) (13,134)
Other investing activities (2,500) 0 (38,249)
Proceeds from repayment of notes receivable 0 0 8,000
Change in restricted cash (204) (4,041) 4,040
Net cash provided by (used in) investing activities (325,979) 184,170 (249,362)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Principal payments of lease financing obligations (1,336) (1,086) (793)
Proceeds from issuance of common stock upon exercising options, net of repurchases 24,855 17,835 8,020
Minimum tax withholding paid on behalf of employees for net share settlement (1,100) 0 0
Proceeds from issuance of common stock, employee stock purchase plan 10,326 9,366 0
Excess tax benefit on stock-based compensation 42,855 37,251 17,436
Proceeds from initial public offering, net of issuance cost 0 (261) 239,315
Repayment on notes payable 0 0 (20,000)
Net cash provided by financing activities 75,600 63,105 243,978
Effect of exchange rate changes (464) (513) (124)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (119,403) 447,295 126,367
CASH AND CASH EQUIVALENTS—Beginning of year 687,326 240,031 113,664
CASH AND CASH EQUIVALENTS—End of year 567,923 687,326 240,031
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for income taxes, net of refunds 39,638 6,591 44,770
Cash paid for interest— lease financing obligation 2,916 2,999 2,809
Cash paid for interest— notes payable 0 0 3,639
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:      
Property and equipment included in accounts payable and accrued liabilities 869 3,957 1,638
Vesting of early exercised stock options and restricted stock awards 1,082 2,226 4,095
Acquisition of building with financing obligation 0 0 456
Unpaid deferred offering costs 0 0 261
Convertible Preferred Stock      
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:      
Conversion of stock upon initial public offering 0 0 5,992
Convertible Notes Payable      
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:      
Conversion of stock upon initial public offering 0 0 66,338
Convertible notes payable—related party      
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:      
Conversion of stock upon initial public offering $ 0 $ 0 $ 30,153