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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 (loss) $ 179,821 $ 333,904 $ (14,310)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Stock-based compensation 44,880 45,011 35,552
Depreciation 30,980 33,687 31,517
Amortization of intangible assets 11,710 14,741 15,610
Non-cash interest expense and amortization of convertible debt issuance costs 0 3 207
Loss on extinguishment of debt 0 0 83,626
Loss on fair value adjustment of derivatives, net 0 240 10,585
Deferred income taxes (9,875) (145,350) 689
Gain on divestiture 0 (90,784) 0
Gain on sale of non-marketable equity security 0 (23,924) 0
Impairment of assets 1,071 10,045 0
Gain on sale of equity security 0 0 (3,547)
Change in fair value of earn-out liability (5,044) 9,234 3,111
Other 15 645 2,413
Change in operating assets and liabilities, net of effects of acquisition/disposition:      
Accounts receivable (39,835) (28,931) (9,274)
Unbilled receivables 26,191 93,796 107,945
Prepaid expenses and other assets (5,500) 2,763 (89)
Inventories (8,480) (15,254) (12,702)
Income taxes receivable (21,179) (87,704) (618)
Accounts payable 580 (5,768) 11,975
Accrued salaries and benefits and other liabilities 571 41 (4,745)
Income taxes payable 26,275 59,643 (19,279)
Deferred revenue 3,774 (5,048) (1,354)
Operating lease liabilities (5,356) (5,204) (6,919)
Net cash provided by operating activities 230,599 195,786 230,393
Cash flows from investing activities:      
Purchases of property and equipment (30,697) (23,240) (17,478)
Acquisition of intangible assets 0 0 (3,000)
Purchases of marketable securities (415,374) (434,155) (150,949)
Maturities of marketable securities 280,829 175,854 59,642
Proceeds from sale of marketable securities 85,722 117,798 276,687
Proceeds from sale of non-marketable equity security 22,796 0 0
Proceeds from divestiture 0 106,347 0
Proceeds from sale of equity security 0 0 3,009
Acquisition of businesses, net of cash acquired 0 0 (15,932)
Net cash provided by (used in) investing activities (56,724) (57,396) 151,979
Cash flows from financing activities:      
Proceeds received from issuance of common stock under employee stock plans 5,465 8,950 6,136
Payments of taxes on restricted stock units (41,340) (38,328) (18,413)
Payments under installment payment arrangements (16,350) (16,192) (14,378)
Payments for settlement and repurchase of convertible senior notes 0 (10,381) (258,060)
Proceeds from retirement of convertible senior note hedges 0 0 91,729
Payments for settlement of warrants 0 (10,697) (69,528)
Payment of deferred purchase consideration from acquisition (2,450) (2,450) 0
Repurchase and retirement of common stock, including prepayment under accelerated share repurchase program (113,312) (100,525) (100,421)
Net cash used in financing activities (167,987) (169,623) (362,935)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (880) 306 (2,007)
Net increase (decrease) in cash, cash equivalents and restricted cash 5,008 (30,927) 17,430
Cash, cash equivalents and restricted cash at beginning of year 94,767 125,694 108,264
Cash, cash equivalents and restricted cash at end of year 99,775 94,767 125,694
Cash paid during the period for:      
Interest 0 73 1,525
Income taxes, net of refunds 27,132 25,932 25,275
Non-cash investing and financing activities:      
Property and equipment received and accrued in accounts payable and other liabilities 3,935 21,768 39,035
Issuance of common stock in connection with the payments of earn-out related to the PLDA Group acquisition 7,456 16,556 0
Operating lease right-of-use assets obtained in exchange for operating lease obligations $ 4,799 $ 1,690 $ 5,931