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Condensed Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 54,706 $ 127,701
Income from discontinued operations, net of income taxes 8,690 (226)
Income from continuing operations, net of income taxes 46,016 127,927
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,301 9,488
Stock-based compensation expense 5,053 7,461
Provision for deferred income taxes 2,825  
Gain on sale of central inverter service business (14,804)  
Net loss on disposal of assets 104 167
Changes in operating assets and liabilities, net of assets acquired:    
Accounts and other receivable, net (23,292) (6,739)
Inventories (7,217) (22,132)
Other assets 13,695 717
Accounts payable 23,676 (8,553)
Other liabilities and accrued expenses (17,779) 49
Income taxes (14,720) 10,098
Net cash provided by operating activities from continuing operations 28,858 118,483
Net cash provided by (used in) operating activities from discontinued operations 317 (4,550)
Net cash provided by operating activities 29,175 113,933
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities   (93)
Proceeds from sale of marketable securities 1,742 6
Acquisitions, net of cash acquired (365,798) (93,801)
Issuance of notes receivable (2,800)  
Purchases of property and equipment (15,681) (16,586)
Net cash used in investing activities from continuing operations (382,537) (110,474)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from long-term borrowings 347,486  
Payments on long-term borrowings (4,375)  
Purchase and retirement of common stock   (69,021)
Net payments related to stock-based award activities (714) (2,636)
Net cash provided by (used in) financing activities from continuing operations 342,397 (71,657)
EFFECT OF CURRENCY TRANSLATION ON CASH (3,185) (722)
DECREASE IN CASH AND CASH EQUIVALENTS (14,150) (68,920)
CASH AND CASH EQUIVALENTS, beginning of period 354,552 415,037
CASH AND CASH EQUIVALENTS, end of period 340,402 346,117
Less cash and cash equivalents from discontinued operations   7,444
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period 340,402 338,673
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 1,049 171
Cash paid for income taxes 15,372 14,180
Cash received for refunds of income taxes $ 1,537 $ 734