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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 193,468 $ 69,984 $ 27,609
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 19,190 18,918 18,374
Amortization of intangibles 5,213 5,267 6,083
Loss on disposal of property and equipment 249 553 360
Stock-based compensation expense 23,347 21,580 24,677
Amortization of premium (accretion of discount) on marketable securities (192) 227 1,100
Deferred income taxes 4,019 (4,465) 15,838
Increase (decrease) in accounts receivable allowances 57 (28) 209
Change in operating assets and liabilities:      
Accounts receivable (13,259) 5,754 (10,479)
Inventories (9,523) (23,770) (4,523)
Prepaid expenses and other assets (2,132) (1,495) (17,646)
Accounts payable (6,556) 1,336 396
Taxes payable and accrued liabilities 10,618 (9,897) 20,041
Net cash provided by operating activities 224,499 83,964 82,039
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (24,114) (24,677) (32,496)
Acquisition of technology licenses (1,026) (900) 0
Purchases of marketable securities (207,240) (62,833) (151,663)
Proceeds from sales and maturities of marketable securities 70,334 157,551 149,443
Net cash provided by (used in) investing activities (162,046) 69,141 (34,716)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock under employee stock plans 9,908 9,353 10,020
Repurchase of common stock (7,302) (103,153) (9,188)
Payments of dividends to stockholders (20,506) (18,823) (16,634)
Proceeds from draw on line of credit 0 8,000 5,000
Payments on line of credit 0 (8,000) (5,000)
Net cash used in financing activities (17,900) (112,623) (15,802)
NET INCREASE IN CASH AND CASH EQUIVALENTS 44,553 40,482 31,521
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 134,137 93,655 62,134
CASH AND CASH EQUIVALENTS AT END OF PERIOD 178,690 134,137 93,655
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Unpaid property and equipment 4,355 1,818 4,913
Unpaid technology licenses 0 100 0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid (refund) for income taxes, net of refunds (Note 11) $ 21,327 $ 7,437 $ (1,571)