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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 170,851 $ 164,413 $ 71,176
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 34,930 31,454 23,743
Amortization of intangibles 2,415 3,494 4,359
Loss on disposal of property and equipment 1,371 3,105 525
Stock-based compensation expense 22,364 37,609 30,912
Amortization of premium on marketable securities 3,292 1,590 705
Deferred income taxes (2,566) (13,240) (592)
Increase (decrease) in accounts receivable allowance for credit losses 690 18 (336)
Change in operating assets and liabilities:      
Accounts receivable 19,867 (5,501) (11,300)
Inventories (36,154) 3,612 (12,498)
Prepaid expenses and other assets 7,343 4,326 9,153
Accounts payable (3,836) 4,067 5,697
Taxes payable and accrued liabilities (5,224) (4,079) 4,095
Net cash provided by operating activities 215,343 230,868 125,639
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (39,211) (47,272) (70,598)
Proceeds from sale of property and equipment 1,202 35 651
Purchases of marketable securities (55,820) (554,018) (109,703)
Proceeds from sales and maturities of marketable securities 172,165 368,457 151,385
Net cash provided by (used in) investing activities 78,336 (232,798) (28,265)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock under employee stock plans 6,162 7,710 10,527
Repurchase of common stock (311,094) (73,938) (2,636)
Payments of dividends to stockholders (41,492) (32,599) (25,081)
Net cash used in financing activities (346,424) (98,827) (17,190)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (52,745) (100,757) 80,184
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 158,117 258,874 178,690
CASH AND CASH EQUIVALENTS AT END OF PERIOD 105,372 158,117 258,874
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Unpaid property and equipment 1,082 10,879 5,937
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid (received) for income taxes, net $ 17,880 $ 25,644 $ (1,973)