Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income (loss) $ 13,793 $ (73,921)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Amortization and depreciation 67,439 53,819
Impairment losses 0 86
Inventory fair value adjustments 0 14,445
Amortization of debt issuance costs and accretion of discounts 2,584 1,386
Stock-based compensation 42,943 33,057
Deferred income taxes 1,405 (5,253)
Loss on disposal of property and equipment 533 0
Impairment of leasehold improvements 226 319
Impairment of leased right-of-use assets 429 1,508
Loss on extinguishment of debt 5,221 0
Loss on foreign currency 384 375
Excess tax benefits on stock-based awards (5,369) (530)
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (39,425) (54,592)
Inventory (29,440) (20,180)
Prepaid expenses and other assets 33,487 (34,357)
Leased right-of-use assets 72 405
Accounts payable, accrued expenses and other current liabilities 35,054 67,193
Accrued compensation 23,849 23,121
Accrued price protection liability 1,636 5,439
Lease liabilities (7,070) (4,275)
Other long-term liabilities 4,449 (8,721)
Net cash provided by (used in) operating activities 152,200 (676)
Investing Activities    
Purchases of property and equipment (26,934) (10,132)
Purchases of intangible assets (6,616) (388)
Cash used in acquisitions, net of cash acquired (35,000) (160,000)
Purchases of long-term investments (5,000) 0
Net cash used in investing activities (73,550) (170,520)
Financing Activities    
Proceeds from the issuance of debt 350,000 175,000
Payment of debt issuance cost (4,144) (2,696)
Repayment of debt (389,813) 0
Net proceeds from issuance of common stock 6,286 5,270
Minimum tax withholding paid on behalf of employees for restricted stock units (11,081) (2,892)
Repurchase of common stock (8,145) 0
Net cash provided by (used in) financing activities (56,897) 174,682
Effect of exchange rate changes on cash and cash equivalents (1,233) 139
Increase in cash, cash equivalents and restricted cash 20,520 3,625
Cash, cash equivalents and restricted cash at beginning of period 150,034 93,117
Cash, cash equivalents and restricted cash at end of period 170,554 96,742
Supplemental disclosures of cash flow information:    
Cash paid for interest 8,798 7,067
Cash paid for income taxes 2,894 2,003
Supplemental disclosures of non-cash activities:    
Issuance of shares for payment of bonuses $ 23,554 $ 2,857