Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income (loss) $ (245,198) $ (73,147) $ 125,040
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:      
Amortization and depreciation 54,140 71,516 80,731
Impairment losses 1,237 2,438 2,811
Impairment of investments and other assets 14,000 0 0
Amortization of debt issuance costs and accretion of discounts 2,538 2,561 1,975
Stock-based compensation 66,021 55,176 81,704
Deferred income taxes 826 (4,452) 23,454
Loss on disposal of property and equipment 1,068 2,057 170
Gain on sale of investments 0 (434) (3,375)
Unrealized holding loss on investments 0 1,765 1,476
Impairment of leased right-of-use assets 5,555 0 462
Gain on settlement of pension 0 (1,008) 0
Gain on extinguishment of lease liabilities (555) 0 0
(Gain) loss on foreign currency and other (1,253) 2,475 (1,829)
Excess tax (benefits) deficiencies on stock-based awards 3,250 (253) (9,921)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net 85,155 1,406 (50,875)
Inventory 9,565 60,636 (28,841)
Prepaid expenses and other assets (1,873) (9,328) 1,789
Accounts payable, accrued expenses and other current liabilities (4,569) (29,431) 65,815
Accrued compensation 919 9,708 42,003
Accrued price protection liability (28,283) (41,562) 73,574
Lease liabilities (10,695) (11,671) (11,440)
Other long-term liabilities 2,857 4,920 (5,997)
Net cash provided by (used in) operating activities (45,295) 43,372 388,726
Investing Activities      
Purchases of property and equipment (17,680) (13,454) (41,253)
Purchases of intangible assets (5,766) (6,355) (11,184)
Cash used in acquisition, net of cash acquired 0 (13,324) 0
Proceeds loaned under notes receivable 0 0 (10,000)
Purchases of long-term investments 0 0 (29,325)
Sale of trading securities 0 17,198 0
Net cash used in investing activities (23,446) (15,935) (91,762)
Financing Activities      
Payment of debt issuance cost 0 (18,325) 0
Repayment of debt 0 0 (185,000)
Net proceeds from issuance of common stock 4,091 4,559 5,006
Minimum tax withholding paid on behalf of employees for restricted stock units (2,805) (12,590) (28,896)
Repurchase of common stock 0 0 (31,511)
Net cash provided by (used in) financing activities 1,286 (26,356) (240,401)
Effect of exchange rate changes on cash and cash equivalents (1,298) (1,082) 56
Increase (decrease) in cash, cash equivalents and restricted cash (68,753) (1) 56,619
Cash, cash equivalents and restricted cash at beginning of period 188,356 188,357 131,738
Cash, cash equivalents and restricted cash at end of period 119,603 188,356 188,357
Supplemental disclosures of cash flow information:      
Cash paid for interest 9,743 9,481 9,078
Cash paid for income taxes 8,194 28,645 23,829
Cash received for dividend income on investments 0 716 0
Supplemental disclosures of non-cash activities:      
Issuance of shares for payment of bonuses $ 10,992 $ 38,648 $ 38,826