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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 3,712 $ 13,984
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,059 7,958
Stock-based compensation expense 5,620 3,033
Deferred taxes (69) 3,392
Amortization of marketable securities 137 55
Realized gain on available-sale-securities (166) 0
Other 155 (644)
Changes in operating assets and liabilities:    
Accounts receivable (14,558) (5,084)
Inventories 917 (537)
Prepaid expenses and other 2,696 (1,240)
Income taxes (183) (841)
Accounts payable 669 1,739
Accrued liabilities and other (2,564) 595
Net cash provided by operating activities 6,425 22,410
Investing activities    
Purchases of property, equipment and other capital assets (6,546) (13,421)
Cash used for acquisitions, net of cash acquired (127,709) 0
Purchases of other assets and investments 0 (3,000)
Purchases of marketable securities (8,227) (37,629)
Proceeds from sales of marketable securities 45,194 0
Proceeds from maturities of marketable securities 7,155 10,700
Net cash used in investing activities (90,133) (43,350)
Financing activities    
Proceeds from exercises of stock options 1,704 135
Purchases of shares withheld for tax obligations (1,994) (1,048)
Repurchases of common stock 0 (11,185)
Principal repayments of finance lease obligations (137) 0
Net cash used in financing activities (427) (12,098)
Effect of exchange rate changes on cash and cash equivalents 306 (282)
Net decrease in cash and cash equivalents (83,829) (33,320)
Cash and cash equivalents, beginning of period 127,603 125,225
Cash and cash equivalents, end of period $ 43,774 $ 91,905