| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
203,865 | 219,267 | 176,712 | 143,694 | 187,074 | 121,485 | 73,573 | 68,098 | 69,869 | 61,381 | -4,869 | 27,275 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Loss on sale of discontinued business | |||||||||||
- | - | - | -255 | 78,182 | 0 | 0 | - | - | - | - | - |
Impairment loss related to discontinued business | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 2,987 |
Intangible asset impairment charge (Note 7) | |||||||||||
- | - | - | - | - | - | - | - | - | - | 1,000 | 1,500 |
Stock-based compensation expense | |||||||||||
45,589 | 41,090 | 31,942 | 20,558 | 20,168 | 15,158 | 10,620 | 8,520 | 8,068 | 3,027 | 9,223 | 10,231 |
Depreciation of property, plant, and equipment | |||||||||||
21,527 | 18,473 | 13,683 | 11,678 | 9,868 | 8,443 | 7,305 | 6,721 | 5,529 | 4,685 | 4,701 | 4,742 |
Amortization of intangible assets | |||||||||||
3,373 | 3,076 | 3,308 | 3,391 | 4,250 | 4,024 | 3,797 | 4,137 | 4,227 | 5,124 | 4,879 | 6,633 |
Impairment of intangible assets | |||||||||||
0 | 0 | 469 | 0 | 0 | - | - | - | - | - | - | - |
Amortization of discounts or premiums on investments | |||||||||||
618 | -108 | -205 | -383 | -690 | -1,823 | -2,519 | -5,735 | -6,383 | -3,195 | -1,512 | -1,320 |
Realized (gain) loss on sale of investments | |||||||||||
1,452 | 501 | 829 | 1,506 | 344 | 673 | -403 | 1,625 | -181 | 10 | - | - |
Revaluation of contingent consideration | |||||||||||
-1,401 | -3 | -28 | -463 | -790 | 0 | 0 | - | - | - | - | - |
Provision for excess and obsolete inventory | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 2,779 |
Tax effect of stock option exercises | |||||||||||
- | - | - | - | - | - | 7,658 | 3,594 | 4,045 | 1,941 | -472 | 1,671 |
Change in deferred income taxes | |||||||||||
94,866 | 413 | -1,787 | 1,908 | 1,409 | 2,364 | -2,234 | -429 | 425 | -1,034 | -1,985 | -441 |
Change in operating assets and liabilities: | |||||||||||
Accounts receivable | |||||||||||
-16,807 | 1,867 | 55,185 | 13,251 | 3,950 | 915 | 11,311 | -5,035 | 2,031 | 14,535 | 287 | -8,551 |
Unbilled revenue | |||||||||||
-3,530 | 906 | 4,604 | 2,308 | 242 | 563 | - | - | - | - | - | - |
Inventories | |||||||||||
-23,137 | 16,946 | 37,088 | -10,409 | 9,457 | 11,750 | -666 | -1,872 | 5,743 | 6,190 | -8,618 | 959 |
Prepaid expenses and other current assets | |||||||||||
-7,405 | 9,750 | 7,016 | 5,421 | - | - | - | - | - | - | - | - |
Accounts payable | |||||||||||
1,633 | -7,247 | 12,322 | 2,087 | -8,872 | 10,896 | 2,644 | -246 | - | - | - | - |
Accrued expenses | |||||||||||
-8,938 | 380 | 14,476 | 7,771 | -2,831 | 7,812 | 5,593 | -1,974 | 2,747 | 10,134 | -3,208 | 2,405 |
Accrued income taxes | |||||||||||
25,266 | -21,903 | 71,335 | 1,270 | 9,957 | 7,700 | 7,968 | 3,363 | -2,865 | 9,567 | -6,611 | -10,476 |
Deferred revenue and customer deposits | |||||||||||
3,875 | 1,434 | 1,619 | 3,622 | 1,527 | 5,893 | - | -761 | 3,316 | -4,740 | -4,532 | 6,142 |
Return of Japan tax deposit (Note 15) | |||||||||||
- | - | - | - | - | - | - | - | - | 9,336 | - | - |
Other | |||||||||||
-4,493 | 838 | -1,215 | -1,820 | -870 | 3,128 | 2,898 | -5,421 | -1,064 | 3,734 | 600 | 2,081 |
Other | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - |
Net cash provided by operating activities | |||||||||||
253,225 | 223,454 | 224,323 | 182,081 | 128,327 | 163,841 | 95,455 | 101,131 | 86,275 | 76,333 | 12,283 | 58,937 |
Cash flows from investing activities: | |||||||||||
Purchases of investments | |||||||||||
1,031,642 | 782,032 | 636,856 | 751,868 | 686,650 | 422,633 | 370,781 | 460,486 | 323,946 | 253,867 | 33,779 | 120,622 |
Maturities and sales of investments | |||||||||||
1,062,962 | 812,565 | 584,464 | 657,250 | 601,441 | 339,470 | 296,091 | 431,510 | 241,557 | 82,928 | 43,720 | 189,375 |
Purchases of property, plant, and equipment | |||||||||||
21,745 | 37,095 | 28,754 | 12,816 | 18,228 | 20,934 | 9,630 | 9,878 | 7,820 | 5,852 | 5,466 | 6,012 |
Cash paid for acquisition of business, net of cash acquired | |||||||||||
166,911 | 4,265 | 24,118 | 14,285 | 1,023 | 0 | 0 | - | - | - | 4,941 | 1,000 |
Cash paid for purchased technology | |||||||||||
- | - | - | - | 10,475 | 0 | 3,750 | 0 | - | - | - | - |
Net cash paid from sale of discontinued business | |||||||||||
0 | 0 | 291 | 113 | -104,388 | 0 | 0 | - | - | 315 | - | 2,797 |
Net cash provided by (used in) investing activities | |||||||||||
-157,336 | -10,827 | -105,555 | -121,832 | -10,547 | -104,097 | -88,070 | -38,854 | -90,209 | -176,476 | -466 | 64,538 |
Cash flows from financing activities: | |||||||||||
Issuance of common stock under stock plans | |||||||||||
64,581 | 26,783 | 54,557 | 43,468 | 27,582 | 16,930 | 27,792 | 17,468 | 30,863 | 28,384 | 146 | 15,052 |
Repurchase of common stock | |||||||||||
61,690 | 203,822 | 123,715 | 47,149 | 126,351 | 59,673 | 47,908 | 0 | 10,000 | - | - | 92,969 |
Payment of dividends | |||||||||||
35,124 | 31,865 | 29,037 | 25,213 | 18,062 | 0 | 0 | 66,213 | 15,114 | 10,014 | 11,897 | 19,281 |
Payments for Previous Acquisition | |||||||||||
0 | 1,000 | 1,926 | 337 | 0 | 0 | - | - | - | - | - | - |
Stock option buyback | |||||||||||
- | - | - | - | - | - | - | - | - | 83 | 9,075 | - |
Tax effect of stock option exercises | |||||||||||
- | - | - | - | - | - | 7,658 | 3,594 | 4,045 | 1,941 | -472 | 1,671 |
Net cash provided by (used in) financing activities | |||||||||||
-32,233 | -209,904 | -100,121 | -29,231 | -116,831 | -42,743 | -12,458 | -45,151 | 9,794 | 20,228 | -21,298 | -95,527 |
Effect of foreign exchange rate changes on cash and cash equivalents | |||||||||||
-437 | -1,093 | 8,294 | -3,352 | -4,668 | -1,951 | 557 | -10,069 | -960 | -6,713 | 2,174 | -4,954 |
Net change in cash and cash equivalents | |||||||||||
63,219 | 1,630 | 26,941 | 27,666 | -3,719 | 15,050 | -4,516 | 7,057 | 4,900 | -86,628 | -7,307 | 22,994 |
Non-cash items related to discontinued operations: | |||||||||||
Stock-based compensation expense | |||||||||||
- | - | - | - | 1,533 | 1,099 | 837 | - | - | - | - | - |
Depreciation and amortization expense | |||||||||||
- | - | - | - | 566 | 1,141 | 1,079 | - | - | - | - | - |
Capital expenditures | |||||||||||
- | - | - | - | 482 | 631 | 749 | - | - | - | - | - |