| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income | |||||||||
155,210 | 156,474 | 107,348 | 104,341 | 112,784 | 92,485 | 68,612 | 73,831 | 60,784 | 54,458 |
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||
Depreciation and amortization | |||||||||
52,734 | 41,630 | 42,067 | 38,771 | 24,084 | 21,754 | 19,397 | 18,108 | 16,949 | 15,196 |
Amortization of premium (discount) on marketable securities | |||||||||
1,089 | -1,677 | -2,671 | 4,068 | 3,354 | 2,680 | 2,358 | 0 | - | - |
Write-down for excess and obsolete inventories | |||||||||
2,498 | 10,475 | 11,519 | 12,836 | 9,924 | 6,962 | 8,212 | 6,119 | 10,487 | 6,112 |
Stock-based compensation expense | |||||||||
26,085 | 21,899 | 14,686 | 11,382 | 9,639 | 7,111 | 5,177 | 4,635 | 3,286 | 4,025 |
Excess tax benefit related to nonqualified stock options | |||||||||
- | - | - | - | - | 4,408 | 4,756 | - | - | - |
Allowance for doubtful accounts | |||||||||
3,026 | 957 | 1,718 | 685 | 1,465 | 318 | 693 | 363 | 105 | 397 |
Change in fair value of business acquisition liabilities | |||||||||
1,787 | 985 | 1,240 | 2,866 | 3,118 | -1,131 | - | - | - | 0 |
Non-cash settlement of accrued expenses | |||||||||
- | - | - | 4,632 | 8,405 | 0 | - | - | - | - |
Impairment of intangible assets | |||||||||
- | - | 516 | 3,472 | 0 | 0 | - | - | - | - |
Change in fair value of interest rate swap | |||||||||
- | - | - | - | - | - | - | - | - | 238 |
Change in deferred income taxes | |||||||||
4,302 | 971 | 8,292 | -3,810 | 6,235 | -4,379 | -14,858 | -6,079 | 2,057 | 1,999 |
(Gain)/loss on disposal of assets, net | |||||||||
-866 | 3,557 | - | 0 | - | - | - | - | - | - |
(Increase)/decrease in: | |||||||||
Restricted cash | |||||||||
- | - | - | - | 2,749 | 23,370 | 0 | 0 | - | - |
Accounts receivable | |||||||||
18,306 | 21,789 | 24,955 | 4,668 | 4,193 | 12,667 | 9,612 | 6,886 | 4,672 | 6,560 |
Inventories | |||||||||
50,018 | 31,382 | 5,277 | 10,503 | 19,327 | 18,001 | 16,678 | 20,541 | 15,280 | 10,188 |
Prepaid expenses and other assets | |||||||||
12,263 | 7,496 | 4,774 | -4,568 | 1,203 | 249 | 2,955 | 117 | -460 | -1,042 |
Increase/(decrease) in: | |||||||||
Accounts payable | |||||||||
773 | -3,008 | 9,843 | -23 | -3,825 | 4,628 | 1,840 | 3,048 | -1,355 | 1,295 |
Accounts payable to related party | |||||||||
- | - | - | - | -5,359 | 2,703 | 100 | 1,378 | -696 | 1,425 |
Accrued expenses and other liabilities | |||||||||
7,043 | 14,728 | -2,064 | -18,164 | -878 | 5,149 | 26,963 | 4,208 | 1,575 | 3,117 |
Income taxes payable/receivable | |||||||||
-673 | -921 | -3,772 | 6,634 | -657 | -413 | 8,978 | -1,548 | 2,710 | -792 |
Net cash provided by operating activities | |||||||||
171,975 | 181,643 | 159,058 | 147,823 | 124,007 | 79,172 | 93,471 | 76,519 | 76,410 | 71,288 |
Cash flows from investing activities: | |||||||||
Purchases of marketable securities | |||||||||
346,526 | 537,942 | 392,895 | 350,448 | 300,207 | 251,422 | 240,892 | 0 | 0 | - |
Maturities of marketable securities | |||||||||
247,008 | 278,049 | 240,353 | 281,885 | 188,702 | 184,567 | 40,560 | 0 | 0 | - |
Sales of marketable securities | |||||||||
53,786 | 106,388 | 122,512 | 52,802 | 57,728 | 27,737 | 13,637 | 0 | 0 | - |
Sales of short-term investments | |||||||||
- | - | - | - | - | - | - | - | - | 300 |
Purchases of property and equipment | |||||||||
70,750 | 59,697 | 51,303 | 40,909 | 50,760 | 24,754 | 23,680 | 24,684 | 22,487 | 12,303 |
Collections/(issuance) of note receivable | |||||||||
- | 30,000 | - | 30,000 | 0 | 0 | - | - | - | - |
Proceeds from sale of assets | |||||||||
- | 5,000 | - | 0 | - | - | - | - | - | - |
Acquisition of businesses, net of cash acquired and purchases of intangible and other assets | |||||||||
23,799 | 14,825 | 29,944 | 76,068 | 48,513 | 36,128 | 16,775 | 6,031 | 7,500 | 0 |
Net cash used in investing activities | |||||||||
-140,281 | -193,027 | -111,277 | -162,738 | -153,050 | -100,000 | -227,150 | -30,715 | -29,987 | -12,003 |
Cash flows from financing activities: | |||||||||
Repayments of long-term debt | |||||||||
- | - | - | - | - | - | - | - | 5,253 | 340 |
Payment of business acquisition liabilities | |||||||||
6,597 | 6,739 | 10,109 | 5,404 | 1,200 | 1,200 | 1,300 | 1,100 | 400 | 0 |
Proceeds from exercise of stock options | |||||||||
31,036 | 39,309 | 11,735 | 5,874 | 5,477 | 9,738 | 7,555 | 1,504 | 886 | 1,321 |
Net proceeds from initial public offering | |||||||||
- | - | - | - | - | - | - | 20,960 | 0 | 0 |
Payments for Repurchase of Common Stock | |||||||||
- | - | - | - | - | - | - | - | 10,021 | 0 |
Excess tax benefit related to nonqualified stock options | |||||||||
- | - | - | - | - | 4,408 | 4,756 | 2,661 | 54 | 787 |
Net cash provided by financing activities | |||||||||
24,439 | 32,570 | 1,626 | 470 | 4,277 | 12,946 | 11,011 | 24,025 | -14,734 | 1,768 |
Effect of foreign exchange rate on cash | |||||||||
-156 | -256 | 1,979 | -1,894 | 153 | 185 | 230 | -97 | -722 | -2 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | |||||||||
55,977 | 20,930 | 51,386 | -16,339 | -24,613 | -7,697 | -122,438 | 69,732 | 30,967 | 61,051 |
Supplemental disclosures of cash flow information: | |||||||||
Interest paid | |||||||||
79 | 6 | 3 | 35 | 9 | 32 | 96 | 63 | 167 | 463 |
Income taxes paid | |||||||||
34,139 | 30,552 | 59,111 | 50,087 | 57,100 | 51,096 | 38,719 | 44,875 | 35,721 | 28,828 |