Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net loss $ (19,898) $ (26,199) $ (9,187)
Adjustments to reconcile net loss to cash provided by operating activities:      
Amortization and depreciation 66,401 79,027 66,738
Impairment losses 0 2,198 2,000
Provision for losses on accounts receivable 0 0 133
Accretion of investment premiums 0 0 (60)
Amortization of inventory step-up 0 0 25,557
Amortization of debt issuance cost and accretion of discount on debt and leases 1,577 1,148 763
Stock-based compensation 32,060 31,721 32,668
Deferred income taxes (15,693) (12,144) (31,767)
Loss on disposal of property and equipment 46 430 168
Loss on sale of available-for-sale securities 0 0 38
Impairment of leasehold improvements 1,442 735 0
Impairment of leased right-of-use assets 9,240 0 0
Gain on extinguishment of lease liabilities (10,437) 0 0
(Gain) loss on foreign currency 760 (809) 2,153
Excess tax benefits on stock-based awards (4,064) (2,028) (8,559)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable 9,090 6,595 (4,377)
Inventory 10,195 11,696 (1,788)
Prepaid expenses and other assets 3,805 1,071 1,272
Leased right-of-use assets 3,044 0 0
Accounts payable, accrued expenses and other current liabilities 1,261 5,923 (1,918)
Accrued compensation 2,021 8,961 1,567
Deferred revenue and deferred profit 0 (138) (1,629)
Accrued price protection liability (3,966) (5,117) 6,395
Lease liabilities (8,142) 0 0
Other long-term liabilities (394) (381) (5,103)
Net cash provided by operating activities 78,348 102,689 75,064
Investing Activities      
Purchases of property and equipment (6,887) (7,825) (7,468)
Proceeds from sale of property and equipment 0 0 30
Purchases of intangible assets (86) 0 (5,378)
Cash used in acquisitions, net of cash acquired 0 0 (473,304)
Purchases of available-for-sale securities 0 0 (30,577)
Maturities of available-for-sale securities 0 0 84,546
Net cash used in investing activities (6,973) (7,825) (432,151)
Financing Activities      
Net proceeds from the issuance of debt 0 0 416,846
Repayment of debt (50,000) (93,000) (70,000)
Repurchases of common stock 0 0 (334)
Net proceeds from issuance of common stock 8,603 6,839 12,052
Minimum tax withholding paid on behalf of employees for restricted stock units (11,986) (7,623) (11,543)
Net cash provided by (used in) financing activities (53,383) (93,784) 347,021
Effect of exchange rate changes on cash and cash equivalents 934 (1,301) 1,582
Increase (decrease) in cash, cash equivalents and restricted cash 18,926 (221) (8,484)
Cash, cash equivalents and restricted cash at beginning of period 74,191 74,412 82,896
Cash, cash equivalents and restricted cash at end of period 93,117 74,191 74,412
Supplemental disclosures of cash flow information:      
Cash paid for interest 11,259 13,957 8,843
Cash paid for income taxes 4,417 5,426 9,435
Supplemental disclosures of non-cash investing and financing activities:      
Issuance of shares for payment of bonuses $ 7,632 $ 6,997 $ 3,314
Issuance of restricted stock units to Physpeed continuing employees 0 0 818