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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 55,735 $ 170,851 $ 164,413
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 35,203 34,930 31,454
Amortization of intangibles 2,173 2,415 3,494
Loss on disposal of property and equipment 100 1,371 3,105
Stock-based compensation expense 28,528 22,364 37,609
Amortization of premium (accretion of discount) on marketable securities (351) 3,292 1,590
Deferred income taxes (9,247) (2,566) (13,240)
Increase (decrease) in accounts receivable allowance for credit losses (454) 690 18
Change in operating assets and liabilities:      
Accounts receivable 6,616 19,867 (5,501)
Inventories (27,744) (36,154) 3,612
Prepaid expenses and other assets (1,183) 7,343 4,326
Accounts payable (5,435) (3,836) 4,067
Taxes payable and accrued liabilities (18,182) (5,224) (4,079)
Net cash provided by operating activities 65,759 215,343 230,868
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (20,884) (39,211) (47,272)
Proceeds from sale of property and equipment 0 1,202 35
Purchases of marketable securities (191,211) (55,820) (554,018)
Proceeds from sales and maturities of marketable securities 197,942 172,165 368,457
Net cash provided by (used in) investing activities (14,153) 78,336 (232,798)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock under employee stock plans 6,237 6,162 7,710
Repurchase of common stock (55,278) (311,094) (73,938)
Payments of dividends to stockholders (44,008) (41,492) (32,599)
Net cash used in financing activities (93,049) (346,424) (98,827)
NET DECREASE IN CASH AND CASH EQUIVALENTS (41,443) (52,745) (100,757)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 105,372 158,117 258,874
CASH AND CASH EQUIVALENTS AT END OF PERIOD 63,929 105,372 158,117
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Unpaid property and equipment 2,747 1,082 10,879
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for income taxes, net $ 13,769 $ 17,880 $ 25,644