Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 93,960 $ 13,793
Adjustments to reconcile net income to cash provided by operating activities:    
Amortization and depreciation 61,906 67,439
Amortization of debt issuance costs and accretion of discounts 1,462 2,584
Stock-based compensation 58,154 42,943
Deferred income taxes 23,321 1,405
Loss on disposal of property and equipment 167 533
Unrealized holding loss on investments 1,418 0
Impairment of leasehold improvements 0 226
Impairment of leased right-of-use assets 462 429
Loss on extinguishment of debt 0 5,221
(Gain) loss on foreign currency (3,245) 384
Excess tax benefits on stock-based awards (9,702) (5,369)
Changes in operating assets and liabilities:    
Accounts receivable (57,976) (39,425)
Inventory (34,267) (29,440)
Prepaid expenses and other assets 3,957 33,487
Leased right-of-use assets 0 72
Accounts payable, accrued expenses and other current liabilities 82,389 35,054
Accrued compensation 32,187 23,849
Accrued price protection liability 76,968 1,636
Lease liabilities (8,485) (7,070)
Other long-term liabilities (3,307) 4,449
Net cash provided by operating activities 319,369 152,200
Investing Activities    
Purchases of property and equipment (24,625) (26,934)
Purchases of intangible assets (10,440) (6,616)
Cash used in acquisitions, net of cash acquired 0 (35,000)
Proceeds loaned under notes receivable (10,000) 0
Purchases of investments (29,325) (5,000)
Net cash used in investing activities (74,390) (73,550)
Financing Activities    
Proceeds from the issuance of debt 0 350,000
Payment of debt issuance cost 0 (4,144)
Repayment of debt (135,000) (389,813)
Net proceeds from issuance of common stock 3,214 6,286
Minimum tax withholding paid on behalf of employees for restricted stock units (28,527) (11,081)
Repurchase of common stock (31,511) (8,145)
Net cash used in financing activities (191,824) (56,897)
Effect of exchange rate changes on cash and cash equivalents (2,400) (1,233)
Increase (decrease) in cash, cash equivalents and restricted cash 50,755 20,520
Cash, cash equivalents and restricted cash at beginning of period 131,738 150,034
Cash, cash equivalents and restricted cash at end of period 182,493 170,554
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,917 8,798
Cash paid for income taxes 14,076 2,894
Supplemental disclosures of non-cash activities:    
Issuance of shares for payment of bonuses $ 38,615 $ 23,554