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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 46,248 $ 39,798
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 8,408 7,453
Amortization of intangibles 724 1,032
Loss on disposal of property and equipment 75 17
Stock-based compensation expense 9,013 8,480
Amortization of premium on marketable securities 937 176
Deferred income taxes (936) 1,445
Increase (decrease) in accounts receivable allowance for credit losses 75 (2)
Change in operating assets and liabilities:    
Accounts receivable 10,660 (6,345)
Inventories (3,849) 12,369
Prepaid expenses and other assets 1,552 (3,253)
Accounts payable (1,709) 3,281
Taxes payable and accrued liabilities 3,399 (6,329)
Net cash provided by operating activities 74,597 58,122
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (14,700) (11,051)
Proceeds from sale of property and equipment 1,202 25
Purchases of marketable securities (15,121) (21,971)
Proceeds from sales and maturities of marketable securities 108,817 63,466
Net cash provided by investing activities 80,198 30,469
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 3,057 3,652
Repurchase of common stock (134,689) 0
Payments of dividends to stockholders (10,656) (7,845)
Net cash used in financing activities (142,288) (4,193)
NET INCREASE IN CASH AND CASH EQUIVALENTS 12,507 84,398
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 158,117 258,874
CASH AND CASH EQUIVALENTS AT END OF PERIOD 170,624 343,272
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 5,042 6,116
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net $ 1,163 $ 1,512