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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 102,072 $ 81,679
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,174 15,274
Amortization of intangibles 1,328 1,905
Loss on disposal of property and equipment 1,034 38
Stock-based compensation expense 12,692 17,680
Amortization of premium on marketable securities 1,867 300
Deferred income taxes (3,282) 1,182
Increase in accounts receivable allowance for credit losses 259 91
Change in operating assets and liabilities:    
Accounts receivable 13,154 (5,533)
Inventories (11,992) 13,235
Prepaid expenses and other assets 4,075 (4,501)
Accounts payable 5,577 8,053
Taxes payable and accrued liabilities (2,539) (4,433)
Net cash provided by operating activities 141,419 124,970
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (27,944) (19,294)
Proceeds from sale of property and equipment 1,202 35
Purchases of marketable securities (20,710) (188,753)
Proceeds from sales and maturities of marketable securities 125,527 160,083
Net cash provided by (used in) investing activities 78,075 (47,929)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock under employee stock plans 3,057 3,652
Repurchase of common stock (292,349) (26,374)
Payments of dividends to stockholders (20,936) (15,712)
Net cash used in financing activities (310,228) (38,434)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (90,734) 38,607
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 158,117 258,874
CASH AND CASH EQUIVALENTS AT END OF PERIOD 67,383 297,481
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unpaid property and equipment 2,984 5,070
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net $ 14,657 $ 10,084