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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Operating activities:      
Net income $ 203,009 $ 259,016 $ 112,170
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 20,430 14,121 11,005
Bad debt expense 487 720 38
Stock-based compensation 39,781 54,494 40,353
Write-down of inventory and other 4,249 4,252 3,946
Accretion on marketable securities (2,731) (2,744)  
Change in fair value of other investments 5,184 (30,161)  
Deferred tax provision 32,953 (7,745) 42,624
Change in fair value of contingent consideration (575) (915) 1,337
Other non-cash operating activities 4,108    
Changes in assets and liabilities:      
Accounts receivable 5,551 (22,023) (15,289)
Inventories (13,237) (37,181) (15,686)
Prepaid expenses and other assets (5,333) (2,527) (4,466)
Accounts payable 2,581 7,976 4,412
Accrued expenses and other liabilities 15,676 13,406 7,722
Deferred revenue 2,787 1,508 4,380
Net cash provided by operating activities 314,920 252,197 192,546
Investing activities:      
Purchases of marketable securities (611,280) (361,602) (325,408)
Proceeds from the sale and maturity of marketable securities and other 550,788 331,886 206,909
Purchases of other investments and intangible assets (20,957) (42,735) (6,400)
Purchases of property and equipment (44,006) (44,004) (55,863)
Net cash used for investing activities (125,455) (116,455) (180,762)
Financing activities:      
Proceeds from the exercise of stock options 3,748 12,949 9,303
Taxes paid related to net share settlement upon vesting of stock awards (41,687) (71,776) (20,317)
Repurchase of common stock (84,879)    
Proceeds from the issuance of stock under employee stock purchase plan 5,103 3,052 2,394
Principal payments on capital lease obligation     (517)
Net cash used for financing activities (117,715) (55,775) (9,137)
Effect of exchange rate changes on cash (430) (1,921) 1,288
Net increase in cash and cash equivalents 71,320 78,046 3,935
Cash and cash equivalents at beginning of year 121,021 42,975 39,040
Cash and cash equivalents at end of year 192,341 121,021 42,975
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 9,685 5,290 4,641
Cash paid for interest on capital lease obligation     302
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment in accounts payable and accrued expenses 2,977 $ 4,787 $ 3,338
Right-of-use assets obtained in exchange for lease liabilities $ 15,650