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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 106,171 $ 113,234 $ 215,525
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation expense 52,443 54,768 54,505
Depreciation of property, plant, and equipment 21,271 17,270 16,347
Loss (gain) on disposal of property, plant, and equipment 88 229 19
Amortization of intangible assets 11,418 4,610 3,274
Non-cash, loss from catastrophes 0 0 46,372
Excess and obsolete inventory charges 2,505 3,775 3,084
Fair value adjustment on acquired inventories (Note 21) 1,224 2,829 0
Amortization of discounts or premiums on investments 306 1,745 4,968
Realized (gain) loss on sale of investments 8 1,954 182
Change in deferred income taxes (21,507) (19,779) (27,338)
Accounts receivable (32,128) 23,346 3,454
Unbilled revenue (693) (255) 1,806
Inventories (1,253) (22,591) (48,934)
Prepaid expenses and other current assets 1,514 2,469 (6,998)
Accounts payable 18,352 (13,744) (17,277)
Accrued expenses 2,916 (35,309) 2,056
Accrued income taxes (9,278) (16,745) (444)
Deferred revenue and customer deposits (6,216) (9,122) 4,886
Other 1,940 4,232 (12,081)
Net cash provided by operating activities 149,081 112,916 243,406
Cash flows from investing activities:      
Purchases of investments (850,852) (184,056) (233,720)
Maturities and sales of investments 828,370 496,462 253,983
Purchases of property, plant, and equipment (15,043) (23,077) (19,667)
Net payments related to business acquisitions (Note 21) (1,444) (257,056) (5,050)
Net cash provided by (used in) investing activities (38,969) 32,273 (4,454)
Cash flows from financing activities:      
Net payments from issuance of common stock under stock plans 994 3,268 9,861
Repurchase of common stock (67,085) (79,794) (204,314)
Payment of dividends (52,329) (49,079) (45,921)
Net cash used in financing activities (118,420) (125,605) (240,374)
Effect of foreign exchange rate changes on cash and cash equivalents (8,253) 1,697 (3,365)
Net change in cash and cash equivalents (16,561) 21,281 (4,787)
Cash and cash equivalents at beginning of year 202,655 181,374 186,161
Cash and cash equivalents at end of year $ 186,094 $ 202,655 $ 181,374