| 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 | ||||||||||
39,346 | 104,036 | 40,913 | -6,557 | -1,523 | -19,185 | -57,683 | -35,546 | -65,981 | -188,286 | -155,653 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
17,185 | 14,314 | 13,626 | 11,371 | 10,634 | - | - | - | - | - | - |
Amortization | ||||||||||
27,672 | 29,373 | 30,940 | 35,427 | 13,137 | - | - | - | - | - | - |
Impairment of long-lived assets | ||||||||||
- | - | - | 12,400 | 8 | 1,219 | 761 | 421 | 549 | 56,401 | -1,288 |
Depreciation and amortization | ||||||||||
- | - | - | - | - | 30,491 | 28,909 | 16,901 | 10,838 | 28,155 | -32,706 |
Accretion of discount on investments | ||||||||||
365 | 10 | -38 | 31 | 10 | -208 | -463 | -91 | -469 | -469 | 204 |
Reduction in the carrying amount of right-of-use assets | ||||||||||
5,269 | 0 | 0 | - | - | - | - | - | - | - | - |
Stock-based compensation expense | ||||||||||
23,176 | 17,827 | 16,339 | 11,686 | 12,075 | 13,279 | 12,124 | 13,049 | 13,849 | 17,613 | -20,776 |
Amortization of debt issuance costs | ||||||||||
160 | 390 | 619 | 307 | 0 | 0 | - | - | - | - | - |
Deferred income tax benefit | ||||||||||
4,954 | -74,908 | -590 | -45,022 | -14 | 230 | 445 | -24,460 | -1,988 | -2,105 | -39,131 |
Benefit for doubtful accounts receivable | ||||||||||
0 | 0 | -99 | 15 | 18 | 1 | -19 | 52 | -276 | 1,071 | -5,040 |
Excess tax benefits from equity based compensation plans | ||||||||||
- | - | - | - | - | - | - | - | - | - | -841 |
Provision for excess and obsolete inventories | ||||||||||
10,400 | 10,500 | 9,300 | 6,631 | 6,493 | 7,127 | 10,500 | 7,232 | 7,897 | 11,389 | -7,032 |
Acquired inventory step-up amortization | ||||||||||
465 | 0 | 569 | 10,022 | 0 | 0 | - | - | - | - | - |
Loss on disposal of long-lived assets | ||||||||||
-486 | -325 | -510 | -361 | 1,009 | 10 | -365 | -41 | -5 | -431 | 430 |
Loss on derivative instruments | ||||||||||
-110 | 0 | 10 | 51 | 0 | 0 | - | - | - | - | - |
Non-cash restructuring | ||||||||||
- | - | - | 964 | 500 | 600 | 2,743 | 462 | -1,582 | 8,974 | -366 |
Gain on settlement of litigation | ||||||||||
- | - | - | - | - | - | - | 3,250 | 0 | 0 | - |
Loss on sale of subsidiary | ||||||||||
- | - | - | - | - | - | -300 | 0 | 0 | - | - |
Gain on release of secured borrowing | ||||||||||
- | - | - | - | - | - | - | - | - | 3,481 | 0 |
Foreign currency transaction (losses) gains | ||||||||||
-408 | -125 | 1,717 | 77 | 275 | -2,489 | -620 | -1,267 | -328 | 291 | -613 |
Changes in assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
-481 | 13,830 | 10,651 | 6,847 | -8,261 | 15,949 | 2,102 | -5,158 | -16,803 | -3,225 | 610 |
Inventories | ||||||||||
14,295 | 21,298 | 15,635 | 11,733 | 8,167 | 11,975 | 7,980 | 926 | 1,152 | 16,887 | -9,384 |
Prepaid expenses and other current assets | ||||||||||
-230 | -1,204 | -457 | 3,292 | -173 | 822 | -3,557 | -821 | -5,621 | -3,700 | 390 |
Refundable income taxes | ||||||||||
- | - | - | -126 | -782 | 0 | -5,143 | 27 | 862 | -25,843 | 2,701 |
Other assets | ||||||||||
441 | -707 | -61 | 248 | -250 | -25 | -138 | -426 | -1,907 | -66 | 6,402 |
Accounts payable | ||||||||||
-27 | 3,050 | 741 | 3,433 | -2,036 | 4,155 | -2,324 | -5,903 | -5,065 | -13,006 | 322 |
Accrued liabilities | ||||||||||
7,517 | -6,219 | 872 | 786 | -333 | 7,765 | -2,474 | -1,123 | -9,643 | 4,634 | 5,573 |
Income taxes payable | ||||||||||
- | - | - | -1,127 | 19 | -1,511 | -346 | -2,145 | -1,263 | -732 | 3,030 |
Other liabilities | ||||||||||
166 | 3,109 | 111 | 126 | 52 | -726 | 1,014 | 1,064 | 160 | -1,920 | 231 |
Deferred revenues | ||||||||||
3,130 | 26 | -30 | -283 | -2,413 | 248 | 83 | 167 | 43 | -6,217 | -5,904 |
Operating lease liabilities | ||||||||||
5,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||||
121,048 | 68,700 | 86,323 | 17,423 | 36,122 | 17,659 | -5,802 | -26,228 | -29,343 | -73,096 | -52,667 |
Net cash provided by operating activities | ||||||||||
Acquisition of property, plant and equipment | ||||||||||
20,847 | 19,869 | 17,756 | 11,521 | 8,640 | 5,670 | 8,530 | 7,952 | 7,700 | 30,914 | 19,173 |
Acquisition of FRT GmbH, net of cash acquired | ||||||||||
20,524 | 0 | 0 | 228,031 | 0 | 0 | - | 96,652 | 0 | 0 | 12,026 |
Proceeds from sale of subsidiary | ||||||||||
132 | 94 | 68 | 47 | 53 | 115 | -210 | 0 | 0 | - | - |
Proceeds from sale of property and property, plant and equipment | ||||||||||
0 | 23 | 0 | 53 | 1,200 | 1,114 | 61 | 0 | 33 | 293 | 201 |
Purchases of marketable securities | ||||||||||
76,327 | 30,566 | 50,733 | 10,587 | 66,234 | 31,693 | 91,338 | 82,437 | 246,665 | 341,292 | 587,797 |
Purchases of marketable securities | ||||||||||
51,214 | 29,023 | 8,996 | 44,500 | 74,750 | 73,473 | 90,385 | 135,340 | 308,681 | 432,549 | 399,023 |
Proceeds from sale of marketable securities | ||||||||||
- | - | - | - | - | - | 2,000 | 11,000 | 6,000 | 9,205 | 45,364 |
Change in restricted cash | ||||||||||
- | - | - | - | 0 | 0 | 118 | 0 | -363 | 0 | 0 |
Net cash used in investing activities | ||||||||||
-66,352 | -21,295 | -59,425 | -205,539 | 1,129 | 37,339 | -7,750 | -40,701 | 60,712 | 69,841 | -174,408 |
Net cash used in investing activities | ||||||||||
Cash flows from financing activities: | ||||||||||
8,093 | 7,712 | 19,510 | 5,745 | 3,418 | 2,813 | 2,602 | 2,251 | 3,509 | 3,724 | 7,129 |
Excess tax benefits from equity based compensation plans | ||||||||||
- | - | - | - | - | - | - | - | - | - | 841 |
Purchase and retirement of common stock | ||||||||||
0 | 0 | 19,000 | 0 | 8,210 | 0 | 0 | - | 16,411 | 626 | 0 |
Purchase and retirement of common stock | ||||||||||
8,025 | 5,791 | 6,885 | 0 | 0 | - | - | - | - | - | - |
Proceeds from term loan | ||||||||||
23,354 | 0 | 0 | 150,000 | 0 | 0 | - | - | - | - | - |
Proceeds from term loan debt | ||||||||||
30,000 | 41,250 | 33,125 | 10,625 | 0 | 0 | - | - | - | - | - |
Payment of term loan issuance costs | ||||||||||
- | - | - | 1,506 | 0 | 0 | - | - | - | - | - |
Payment of term loan debt issuance costs | ||||||||||
-6,578 | -39,329 | -39,470 | 143,614 | -4,792 | 2,542 | 1,999 | 2,139 | -12,902 | 3,098 | 11,450 |
Payments of term loan debt issuance costs | ||||||||||
- | - | - | - | - | 271 | 603 | 112 | - | - | - |
Payments made on capital leases | ||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | 3,480 |
Net cash used in financing activities | ||||||||||
-727 | -256 | 2,702 | 399 | -135 | -2,796 | -1,494 | -2,016 | -625 | -679 | -258 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
47,391 | 7,820 | -9,870 | -44,103 | 32,324 | 54,744 | -13,047 | -66,806 | 17,842 | -836 | -215,883 |
Fair value of stock options and restricted stock-based awards assumed in connection with acquisition of Cascade Microtech | ||||||||||
Operating lease, right-of-use assets obtained in exchange for lease obligations | ||||||||||
36,709 | 0 | 0 | 97,079 | 0 | 0 | - | 13,805 | 0 | 0 | - |
Non-cash additions to property and equipment | ||||||||||
- | - | - | 7,776 | 0 | - | - | - | - | - | - |
Contingent consideration payable related to FRT acquisition | ||||||||||
5,364 | 0 | 0 | 12,815 | 0 | - | - | - | - | - | - |
Change in accounts payable and accrued liabilities related to property, plant and equipment purchases | ||||||||||
866 | 2,290 | -33 | -732 | 361 | -122 | 1,528 | 2,215 | -66 | 1,997 | 4,430 |
Working capital adjustment | ||||||||||
- | - | - | - | - | - | - | 2,782 | 0 | 0 | - |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for income taxes, net | ||||||||||
4,324 | 4,576 | 3,172 | 2,567 | 27 | 950 | -6,152 | -40 | 1,410 | -24,882 | 25,787 |
Cash paid for interest | ||||||||||
1,405 | 3,113 | 3,836 | 2,110 | 0 | 0 | - | - | - | - | - |