XML 15 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 46,964 $ 29,450
Adjustments to reconcile net income to net cash provided by operating activities:    
Inventory step-up amortization 1,598
Depreciation and amortization 11,834 8,444
Amortization of debt discount and issuance costs 452 2,828
Stock-based compensation expense 7,915 6,541
Deferred income taxes, net 1,045 789
Contingent consideration (2,411)
Other 73 6
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (6,269) (19,779)
Unbilled receivables 11
Inventories (30,037) (17,025)
Prepaid expenses and other assets 272 (2,414)
Other assets 1,310 538
Accounts payable 2,200 3,725
Accrued expenses (9,999) (4,906)
Long-term liabilities (247) (533)
Total cash provided by operating activities 23,113 9,262
Cash flows from investing activities:    
Acquisitions, net of cash acquired 71
Additions to capitalized software costs (1,027) (1,484)
Purchases of property, plant and equipment (27,204) (7,584)
Sale of property, plant and equipment 17
Total cash used in investing activities (28,214) (8,997)
Cash flows from financing activities:    
Proceeds from exercise of stock options 296 508
Payment of tax withholding obligation on vesting of restricted stock (12,311)
Repayment of convertible senior notes (6) (1)
Total cash provided by financing activities (12,021) 507
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,052) (6,746)
Net (decrease) increase in cash, cash equivalents and restricted cash (19,174) (5,974)
Cash, cash equivalents and restricted cash, beginning of period 603,814 717,292
Cash and cash equivalents, end of period 584,640 711,318
Supplemental disclosure of non-cash investing and financing activities:    
Assets acquired under operating leases $ 1,119 $ 3,182