Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income (loss) $ 41,969 $ (98,593) $ (19,898)
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Amortization and depreciation 91,792 76,513 66,401
Impairment losses 0 86 0
Inventory fair value adjustments 0 32,945 0
Amortization of debt issuance costs and accretion of discounts 3,000 2,201 1,577
Stock-based compensation 59,358 47,597 32,060
Deferred income taxes (3,235) (18,488) (15,693)
Loss on disposal of property and equipment 533 0 46
Impairment of leasehold improvements 226 319 1,442
Impairment of leased right-of-use assets 429 1,508 9,240
Loss on extinguishment of debt 5,221 0 0
Gain on extinguishment of lease liabilities 0 0 (10,437)
Loss on foreign currency 634 1,289 760
Excess tax benefits on stock-based awards (7,415) (677) (4,064)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable (51,690) (16,856) 9,090
Inventory (33,689) (31,837) 10,195
Prepaid expenses and other assets 24,186 (38,954) 3,805
Leased right-of-use assets 72 441 3,044
Accounts payable, accrued expenses and other current liabilities 12,771 57,094 1,261
Accrued compensation 33,595 32,606 2,021
Accrued price protection liability (7,320) 34,719 (3,966)
Lease liabilities (9,905) (6,386) (8,142)
Other long-term liabilities 7,701 (1,934) (394)
Net cash provided by operating activities 168,233 73,593 78,348
Investing Activities      
Purchases of property and equipment (39,176) (12,487) (6,887)
Purchases of intangible assets (7,581) (2,799) (86)
Cash used in acquisitions, net of cash acquired (40,000) (160,000) 0
Purchases of long-term investments (5,000) 0 0
Net cash used in investing activities (91,757) (175,286) (6,973)
Financing Activities      
Proceeds from the issuance of debt 350,000 175,000 0
Payment of debt issuance cost (4,173) (2,696) 0
Repayment of debt (409,813) (17,188) (50,000)
Net proceeds from issuance of common stock 8,780 8,068 8,603
Minimum tax withholding paid on behalf of employees for restricted stock units (13,149) (3,535) (11,986)
Repurchase of common stock (23,548) 0 0
Net cash provided by (used in) financing activities (91,903) 159,649 (53,383)
Effect of exchange rate changes on cash and cash equivalents (2,869) (1,039) 934
Increase (decrease) in cash, cash equivalents and restricted cash (18,296) 56,917 18,926
Cash, cash equivalents and restricted cash at beginning of period 150,034 93,117 74,191
Cash, cash equivalents and restricted cash at end of period 131,738 150,034 93,117
Supplemental disclosures of cash flow information:      
Cash paid for interest 11,034 11,082 11,259
Cash paid for income taxes 3,839 2,822 4,417
Supplemental disclosures of non-cash activities:      
Common stock issued in acquisitions, at fair value 0 17,080 0
Deferred payments of purchase price for acquisitions, at fair value 0 34,100 0
Issuance of shares for payment of bonuses $ 23,981 $ 3,258 $ 7,632