XML 19 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 92,869 $ 54,706
Income (loss) from discontinued operations, net of income taxes (421) 8,690
Income from continuing operations, net of income taxes 93,290 46,016
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 35,433 15,301
Stock-based compensation expense 9,666 5,053
Provision (benefit) for deferred income taxes (7,849) 2,825
Gain on sale of central inverter service business   (14,804)
Discount on notes receivable 721  
Net loss on disposal of assets 678 104
Changes in operating assets and liabilities, net of assets acquired:    
Accounts and other receivable, net 8,670 (23,292)
Inventories (26,983) (7,217)
Other assets 5,039 13,695
Accounts payable (12,971) 23,676
Other liabilities and accrued expenses 30,964 (17,779)
Income taxes (1,626) (14,720)
Net cash from operating activities from continuing operations 135,032 28,858
Net cash from operating activities from discontinued operations (659) 317
Net cash from operating activities 134,373 29,175
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of marketable securities 3  
Proceeds from sale of property and equipment 103 1,742
Acquisitions, net of cash acquired (1,127) (365,798)
Issuance of notes receivable (1,000) (2,800)
Purchases of property and equipment (25,232) (15,681)
Net cash from investing activities from continuing operations (27,253) (382,537)
Net cash from investing activities (27,253) (382,537)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from long-term borrowings   347,486
Payments on long-term borrowings (13,125) (4,375)
Purchase and retirement of common stock (11,579)  
Net payments related to stock-based award activities (1,451) (714)
Net cash from financing activities from continuing operations (26,155) 342,397
Net cash from financing activities (26,155) 342,397
EFFECT OF CURRENCY TRANSLATION ON CASH 1,571 (3,185)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 82,536 (14,150)
CASH AND CASH EQUIVALENTS, beginning of period 346,441 354,552
CASH AND CASH EQUIVALENTS, end of period 428,977 340,402
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period 428,977 340,402
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 4,261 1,049
Cash paid for income taxes 16,079 15,372
Cash received for refunds of income taxes $ 821 $ 1,537