XML 24 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 134,730 $ 64,975 $ 147,111
Income (loss) from discontinued operations, net of income taxes (421) 8,480 (38)
Income from continuing operations, net of income taxes 135,151 56,495 147,149
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 47,770 26,147 13,592
Stock-based compensation expense 12,272 7,327 9,703
Provision (benefit) for deferred income taxes (622) 1,015 5,618
Gain on sale of central inverter service business   (14,795)  
Discount on notes receivable 721 1,100  
Net loss on disposal of assets 1,296 700 481
Changes in operating assets and liabilities, net of assets acquired:      
Accounts and other receivable, net 15,412 (18,879) 3,445
Inventories 11,658 3,687 (11,276)
Other assets 1,750 23,544 (2,975)
Accounts payable (48,163) (16,094) (12,618)
Other liabilities and accrued expenses 24,520 (12,486) (3,239)
Income taxes 394 (9,862) 1,547
Net cash from operating activities from continuing operations 202,159 47,899 151,427
Net cash from operating activities from discontinued operations (923) 493 (156)
Net cash from operating activities 201,236 48,392 151,271
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sale of marketable securities 3 1,742 494
Acquisitions, net of cash acquired (5,476) (366,101) (93,756)
Issuance of notes receivable (1,000) (4,300)  
Proceeds from sale of property and equipment 116    
Purchases of property and equipment (36,483) (25,188) (20,330)
Net cash from investing activities from continuing operations (42,840) (393,847) (113,592)
Net cash from investing activities (42,840) (393,847) (113,592)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from long-term borrowings   347,486  
Payments on long-term borrowings (17,500) (8,750)  
Purchase and retirement of common stock (11,630)   (95,125)
Net receipts (payments) related to stock-based award activities (482) 104 (2,009)
Net cash from financing activities from continuing operations (29,612) 338,840 (97,134)
Net cash from financing activities (29,612) 338,840 (97,134)
EFFECT OF CURRENCY TRANSLATION ON CASH 5,143 (1,496) (1,030)
NET CHANGE IN CASH AND CASH EQUIVALENTS 133,927 (8,111) (60,485)
CASH AND CASH EQUIVALENTS, beginning of period 346,441 354,552 415,037
CASH AND CASH EQUIVALENTS, end of period 480,368 346,441 354,552
Less cash and cash equivalents from discontinued operations     5,251
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period 480,368 346,441 349,301
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for interest 5,278 3,479 228
Cash paid for income taxes 21,032 18,594 16,190
Cash received for refunds of income taxes $ 1,569 $ 1,762 $ 1,135