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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 164,413 $ 71,176 $ 193,468
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 31,454 23,743 19,190
Amortization of intangibles 3,494 4,359 5,213
Loss on disposal of property and equipment 3,105 525 249
Stock-based compensation expense 37,609 30,912 23,347
Amortization of premium on marketable securities 1,590 705 (192)
Deferred income taxes (13,240) (592) 4,019
Increase (decrease) in accounts receivable allowance for credit losses 18 (336) 57
Change in operating assets and liabilities:      
Accounts receivable (5,501) (11,300) (13,259)
Inventories 3,612 (12,498) (9,523)
Prepaid expenses and other assets 4,326 9,153 (2,132)
Accounts payable 4,067 5,697 (6,556)
Taxes payable and accrued liabilities (4,079) 4,095 10,618
Net cash provided by operating activities 230,868 125,639 224,499
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (47,272) (70,598) (24,114)
Proceeds from sale of property and equipment 35 651 0
Acquisition of technology licenses 0 0 (1,026)
Purchases of marketable securities (554,018) (109,703) (207,240)
Proceeds from sales and maturities of marketable securities 368,457 151,385 70,334
Net cash used in investing activities (232,798) (28,265) (162,046)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock under employee stock plans 7,710 10,527 9,908
Repurchase of common stock (73,938) (2,636) (7,302)
Payments of dividends to stockholders (32,599) (25,081) (20,506)
Net cash used in financing activities (98,827) (17,190) (17,900)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (100,757) 80,184 44,553
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 258,874 178,690 134,137
CASH AND CASH EQUIVALENTS AT END OF PERIOD 158,117 258,874 178,690
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Unpaid property and equipment 10,879 5,937 4,355
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid (received) for income taxes, net $ 25,644 $ (1,973) $ 21,327