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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income (loss) $ 241,124 $ 98,318 $ (9,547)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization of intangible assets 56,277 55,763 66,763
Non-cash operating lease expense 20,597 16,454 16,257
Stock-based compensation 43,874 28,357 21,881
Amortization of prepaid debt fees 5,489 3,664 3,499
Deferred taxes, net (38,791) (34,646) (32,635)
Loss on sale of business 597 667 3,505
Goodwill impairment 0 0 38,480
Restructuring, non-cash (191) 385 (624)
Other adjustments, net (895) (169) 11,678
Changes in operating assets and liabilities, net of acquisitions and sale of business:      
Accounts receivable (49,138) (19,494) 5,064
Inventories 5,969 (52,118) (68,124)
Other current assets 15,165 (42,410) (16,695)
Other long-term assets (6,789) 2,317 (5,436)
Accounts payable, other current liabilities, and taxes payable (35,388) (43,657) 45,085
Wages and benefits payable 3,784 44,700 (21,749)
Unearned revenue 29,319 28,329 18,466
Warranty 210 (3,778) (5,497)
Restructuring (31,011) 29,866 (40,981)
Other operating, net (22,027) 12,423 (4,890)
Net cash provided by operating activities 238,175 124,971 24,500
Investing activities      
Net proceeds (payments) related to the sale of business 405 (772) 55,933
Acquisitions of property, plant, and equipment (30,562) (26,884) (19,747)
Business acquisitions, net of cash and cash equivalents acquired (34,105) 0 23
Other investing, net 850 4,348 4,307
Net cash provided by (used in) investing activities (63,412) (23,308) 40,516
Financing activities      
Proceeds from borrowings 805,000 0 0
Issuance of common stock 8,321 3,674 3,452
Payments on call spread for convertible offering (108,997) 0 0
Repurchase of common stock (100,000) 0 (16,972)
Prepaid debt fees (21,872) (2,471) (697)
Other financing, net (2,879) (4,711) (4,520)
Net cash provided by (used in) financing activities 579,573 (3,508) (18,737)
Effect of foreign exchange rate changes on cash and cash equivalents (5,148) 1,887 (6,851)
Increase in cash and cash equivalents 749,188 100,042 39,428
Cash and cash equivalents at beginning of period 302,049 202,007 162,579
Cash and cash equivalents at end of period 1,051,237 302,049 202,007
Supplemental disclosure of cash flow information:      
Income taxes, net 80,172 54,550 11,915
Interest 1,342 1,832 1,622
Deferred tax effect of call spread offerings $ 26,693 $ 0 $ 0