v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 34,329 $ 93,779 $ 169,170
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 57,196 49,676 39,535
Loss (gain) from exchange rate fluctuations (26,878) 9,527 21,131
Stock-based compensation expenses 149,945 145,539 102,593
Impairment of goodwill and long-lived assets 30,790 119,141 0
Deferred income taxes, net (43,071) (11,055) (12,045)
Other items 8,164 4,382 11,931
Changes in assets and liabilities:      
Inventories, net (690,854) (341,085) (43,051)
Prepaid expenses and other assets (91,523) (64,991) (39,444)
Trade receivables, net 296,429 (457,610) (247,723)
Trade payables, net (67,795) 194,524 91,709
Employees and payroll accruals 21,419 26,238 26,519
Warranty obligations 133,090 120,169 60,524
Deferred revenues and customers advances 39,632 44,376 29,936
Accrued expenses and other liabilities, net (30,986) 98,674 3,344
Net cash provided by (used in) operating activities (180,113) 31,284 214,129
Cash flows from investing activities:      
Investment in available-for-sale marketable securities (296,396) (507,171) (579,377)
Proceeds from sales and maturities of available-for-sale marketable securities 280,189 231,210 202,188
Purchase of property, plant and equipment (170,523) (169,341) (149,251)
Disbursements for loans receivables (58,000) 0 0
Business combinations, net of cash acquired (16,653) 0 0
Purchase of intangible assets (10,600) 0 0
Investment in a privately-held company (8,000) 0 (16,643)
Proceeds from governmental grant 6,794 4,479 0
Proceeds from sale of a privately-held company 1,313 24,362 0
Withdrawal from bank deposits, net 0 0 60,096
Other investing activities 2,982 (583) (1,224)
Net cash used in investing activities (268,894) (417,044) (484,211)
Cash flows from financing activities:      
Tax withholding in connection with stock-based awards, net (9,259) 3,023 (4,283)
Payments of finance lease liability (2,794) (2,834) (1,308)
Proceeds from secondary public offering, net of issuance costs 0 650,526 0
Repayment of bank loans (129) (138) (16,073)
Other financing activities 226 4,030 6,486
Net cash provided by (used in) financing activities (11,956) 654,607 (15,178)
Increase (decrease) in cash and cash equivalents (460,963) 268,847 (285,260)
Cash and cash equivalents at the beginning of the period 783,112 530,089 827,146
Effect of exchange rate differences on cash and cash equivalents 16,319 (15,824) (11,797)
Cash and cash equivalents at the end of the period 338,468 783,112 530,089
Supplemental disclosure of non-cash activities:      
Purchase of intangible assets and business combinations 11,307 0 0
Right-of-use asset recognized with corresponding lease liability 18,077 46,004 20,526
Purchase of property, plant and equipment 6,323 16,016 10,781
Supplemental disclosure of cash flow information:      
Cash paid for income taxes $ 137,981 $ 74,689 $ 45,977