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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 16,627 $ 26,591
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,127 15,855
Stock-based compensation expense 10,561 6,672
Deferred taxes 419 5,651
Amortization of marketable securities 261 129
Realized gain on available-sale-securities (117) 0
Fair value of contingent consideration (7,763) 0
Other 125 (854)
Changes in operating assets and liabilities:    
Accounts receivable (23,296) (4,292)
Inventories 1,727 (801)
Prepaid expenses and other 1,810 (1,068)
Income taxes (4,015) (1,341)
Accounts payable 5,011 1,082
Accrued liabilities and other (748) 5,793
Net cash provided by operating activities 20,729 53,417
Investing activities    
Purchases of property, equipment and other capital assets (23,929) (33,305)
Cash used for acquisitions, net of cash acquired (127,413) 0
Purchases of other assets and investments 0 (3,000)
Purchases of marketable securities (15,159) (57,212)
Proceeds from sales of marketable securities 47,694 0
Proceeds from maturities of marketable securities 13,725 28,225
Net cash used in investing activities (105,082) (65,292)
Financing activities    
Proceeds from exercises of stock options 3,838 2,855
Purchases of shares withheld for tax obligations (4,209) (3,367)
Repurchases of common stock (1,210) (14,686)
Principal repayments of finance lease obligations (275) 0
Net cash used in financing activities (1,856) (15,198)
Effect of exchange rate changes on cash and cash equivalents 515 (149)
Net decrease in cash and cash equivalents (85,694) (27,222)
Cash and cash equivalents, beginning of period 127,603 125,225
Cash and cash equivalents, end of period $ 41,909 $ 98,003