| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
Net income | ||||||||||
64,975 | 147,111 | 137,861 | 127,454 | -158,486 | 46,982 | 32,086 | 20,581 | 36,314 | 71,192 | -102,705 |
Income (loss) from discontinued operations, net of income taxes | ||||||||||
-8,480 | 38 | -1,760 | 10,506 | -241,968 | -22,513 | -27,624 | - | - | - | - |
Income (loss) from continuing operations, net of income taxes | ||||||||||
56,495 | 147,149 | 136,101 | 116,948 | 83,482 | 69,495 | 59,710 | - | - | - | - |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
26,147 | 13,592 | 9,424 | 7,813 | 8,832 | 10,461 | 6,988 | 17,786 | 14,525 | 10,736 | 9,014 |
Goodwill impairment charge | ||||||||||
- | - | - | - | - | - | - | - | - | - | 63,260 |
Stock-based compensation expense | ||||||||||
7,327 | 9,703 | 12,549 | 6,332 | 2,810 | 3,712 | 9,849 | 12,720 | 12,529 | 8,501 | 5,766 |
Provision for deferred income taxes | ||||||||||
1,015 | 5,618 | 28,765 | 3,570 | 3,498 | -21,561 | 4,829 | -6,528 | 3,363 | 5,284 | -5,283 |
Loss on foreign exchange hedge | ||||||||||
- | - | -3,489 | 0 | 0 | - | - | - | - | - | - |
Discount on notes receivable | ||||||||||
1,100 | - | - | - | - | - | - | - | - | - | - |
Gain on sale of central inverter service business | ||||||||||
14,795 | - | - | - | - | - | - | - | - | - | - |
Non-cash restructuring charges | ||||||||||
- | - | - | - | - | - | 2,968 | 1,284 | 1,390 | - | - |
Non-cash reserve for potential bad debts | ||||||||||
- | - | - | - | 5,967 | 0 | 0 | - | - | - | - |
Restructuring charges | ||||||||||
- | - | - | - | - | - | - | - | - | 0 | 4,376 |
Net gain on disposal of gas flow control business | ||||||||||
- | - | - | - | - | - | - | - | - | -12,531 | 0 |
Net loss on disposal of assets | ||||||||||
-700 | -481 | -122 | -319 | 1,019 | -502 | -680 | -286 | -1,629 | 0 | -323 |
Changes in operating assets and liabilities, net of assets acquired: | ||||||||||
Accounts and other receivable, net | ||||||||||
18,879 | -3,445 | 7,497 | 21,603 | -17,919 | 3,835 | 18,084 | -49,577 | 12,135 | 62,136 | -7,053 |
Inventories | ||||||||||
-3,687 | 11,276 | 19,261 | 6,359 | 6,715 | 7,416 | 2,086 | 375 | 3,465 | 41,299 | -11,175 |
Other assets | ||||||||||
-23,544 | 2,975 | 1,030 | 1,358 | 2,366 | -4,605 | -5,249 | -5,294 | -1,689 | 6,318 | 1,573 |
Accounts payable | ||||||||||
-16,094 | -12,618 | 1,812 | 18,957 | 3,220 | 1,866 | 12,694 | -2,710 | -10,813 | 26,521 | 15,797 |
Other liabilities and accrued expenses | ||||||||||
12,486 | 3,239 | -7,159 | -2,169 | 9,500 | 5,135 | -17,223 | 961 | -3,124 | -27,163 | -1,726 |
Income taxes | ||||||||||
-9,862 | 1,547 | 18,323 | 356 | 17,994 | 11,085 | -26,548 | 13,823 | -8,087 | -9,188 | 5,364 |
Net cash provided by (used in) operating activities from continuing operations | ||||||||||
47,899 | 151,427 | 189,956 | 127,144 | 124,122 | 63,779 | 73,472 | - | - | - | - |
Net cash provided by (used in) operating activities from discontinued operations | ||||||||||
493 | -156 | -7,255 | -7,857 | -19,413 | 13,383 | -38,156 | - | - | - | - |
Non-current assets | ||||||||||
- | - | - | - | - | - | - | - | 1,968 | -469 | -4,785 |
Increase Decrease In Non Current Liabilities | ||||||||||
- | - | - | - | - | - | - | - | - | -50 | 318 |
Net cash provided by operating activities | ||||||||||
48,392 | 151,271 | 182,701 | 119,287 | 104,709 | 77,162 | 35,316 | 110,777 | 38,095 | 18,344 | 9,190 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
Purchases of marketable securities | ||||||||||
- | 95 | 107 | 763 | 30,172 | 6,432 | 19,034 | 29,580 | 31,598 | 109,516 | 247,017 |
Proceeds from sale of marketable securities | ||||||||||
1,742 | 589 | 1,903 | 7,884 | 21,095 | 14,835 | 33,093 | 28,399 | 15,761 | 144,055 | 265,586 |
Proceeds from sale of property and equipment | ||||||||||
- | - | - | - | - | -156 | 0 | 2,200 | 0 | 0 | - |
Proceeds from sale of business | ||||||||||
- | - | - | - | - | - | - | - | - | 43,260 | 0 |
Acquisitions, net of cash acquired | ||||||||||
366,101 | 93,756 | 17,347 | 0 | 128 | 57,138 | 0 | 15,313 | 0 | 75,577 | 0 |
Issuance of notes receivable | ||||||||||
4,300 | - | - | - | - | - | - | - | - | - | - |
Purchase of foreign exchange hedge | ||||||||||
- | - | 3,489 | 0 | 0 | - | - | - | - | - | - |
Purchases of property and equipment | ||||||||||
25,188 | 20,330 | 9,042 | 6,821 | 4,014 | 3,449 | 2,588 | 10,233 | 18,887 | 18,932 | 5,611 |
Net cash provided by (used in) investing activities from continuing operations | ||||||||||
- | - | - | 300 | -13,219 | -52,340 | 11,471 | - | - | - | - |
Net cash used in investing activities from discontinued operations | ||||||||||
- | - | - | 0 | -46 | -2,656 | -82,397 | - | - | - | - |
Net cash provided by (used in) investing activities | ||||||||||
-393,847 | -113,592 | -28,082 | 300 | -13,265 | -54,996 | -70,926 | -24,527 | -34,724 | -16,710 | 12,958 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
Net proceeds from long-term borrowings | ||||||||||
347,486 | - | - | - | - | - | - | - | - | - | - |
Payments on long-term borrowings | ||||||||||
8,750 | - | - | - | - | - | - | - | - | - | - |
Payments of Debt Issuance Costs | ||||||||||
- | - | - | - | - | - | - | 562 | 0 | - | - |
Proceeds from (Repayments of) Lines of Credit | ||||||||||
- | - | - | - | - | - | - | 0 | - | - | - |
Borrowings from lines of credit | ||||||||||
- | - | - | - | - | - | - | - | 0 | - | - |
Settlement of performance stock units | ||||||||||
- | - | - | - | - | -11,198 | 0 | 0 | - | - | - |
Purchase and retirement of common stock | ||||||||||
- | 95,125 | 29,993 | 0 | 50,000 | 25,000 | 0 | 57,117 | 17,895 | 0 | 0 |
Net payments related to stock-based award activities | ||||||||||
104 | -2,009 | -1,314 | 2,171 | 4,476 | 15,830 | 26,337 | 3,723 | 1,981 | 1,397 | 508 |
Excess tax from stock-based compensation deduction | ||||||||||
- | - | - | - | - | - | -1,046 | -811 | -1,011 | 188 | -3,818 |
Other financing activities | ||||||||||
- | - | - | - | -4 | -2 | -1 | -97 | -167 | 209 | 85 |
Net cash provided by (used in) financing activities from continuing operations | ||||||||||
- | - | - | 2,171 | -45,528 | -20,370 | 25,290 | - | - | - | - |
Net cash used in financing activities from discontinued operations | ||||||||||
- | - | - | -29 | -14 | -13,686 | 1,023 | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
338,840 | -97,134 | -31,307 | 2,142 | -45,542 | -34,056 | 26,313 | -54,864 | -17,092 | 1,376 | -3,395 |
EFFECT OF CURRENCY TRANSLATION ON CASH | ||||||||||
-1,496 | -1,030 | 2,208 | -1,932 | -1,467 | -950 | 858 | -2,461 | 446 | -5,202 | -2,095 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||||||
-8,111 | -60,485 | 125,520 | 119,797 | 44,435 | -12,840 | -8,439 | 28,925 | -13,275 | -2,192 | 16,658 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||
Cash paid for interest | ||||||||||
3,479 | 228 | 66 | 173 | 361 | 234 | 63 | 17 | 74 | 55 | 16 |
Cash paid for income taxes | ||||||||||
18,594 | 16,190 | 5,314 | 5,647 | 7,161 | 5,241 | 13,396 | 3,630 | 23,254 | 25,182 | 6,355 |
Cash received for refunds of income taxes | ||||||||||
1,762 | 1,135 | 1,448 | 2,232 | 5,377 | 7,261 | 1,569 | 7,434 | 7,430 | 1,687 | 0 |
Cash held in banks outside the United States | ||||||||||
- | - | - | 230,168 | 116,259 | 44,573 | 27,064 | 36,185 | 67,426 | 22,032 | 66,148 |
Stock Issued During Period, Value, Acquisitions | ||||||||||
- | - | - | - | - | - | - | - | - | 14,690 | 0 |