XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 03, 2020
Jun. 28, 2019
Cash flows from operating activities:    
Net income $ 42,628 $ 43,706
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and leasehold improvements 3,487 3,232
Amortization of premiums and accretion of discounts on short-term investments (112) (298)
Provision for contract losses and doubtful accounts 2,817 1,786
Stock-based compensation 9,600 9,741
Deferred income tax provision (398) (141)
Changes in operating assets and liabilities:    
Accounts receivable 7,980 (25,707)
Prepaid expenses and other current assets (10,666) (1,760)
Change in operating leases (529) (209)
Accounts payable and accrued liabilities (1,992) 6,846
Accrued payroll and employee benefits (14,816) (11,761)
Deferred revenues (3,800) (616)
Net cash provided by operating activities 34,199 24,819
Cash flows from investing activities:    
Capital expenditures (2,467) (12,494)
Purchase of short-term investments   (38,693)
Maturity of short-term investments 21,000 31,000
Net cash provided by/(used in) investing activities 18,533 (20,187)
Cash flows from financing activities:    
Payroll taxes for restricted stock units (15,263) (11,183)
Repurchase of common stock (40,049)  
Exercise of stock-based payment awards 2,534 845
Dividends and dividend equivalents rights (20,128) (16,899)
Net cash used in financing activities (72,906) (27,237)
Effect of foreign currency exchange rates on cash and cash equivalents (330) (2)
Net decrease in cash and cash equivalents (20,504) (22,607)
Cash and cash equivalents at beginning of period 176,436 127,059
Cash and cash equivalents at end of period $ 155,932 $ 104,452