| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Jan'16 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
196,216 | 193,543 | 124,789 | 311,097 | 81,500 | 74,363 | 55,721 | 61,938 | 64,053 | 73,405 | 54,022 | 31,927 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
23,487 | 21,127 | 20,061 | 16,817 | 15,684 | 12,818 | 11,421 | 9,369 | 7,342 | 6,584 | 5,979 | 5,745 |
Stock-based compensation | |||||||||||
39,233 | 27,417 | 17,187 | 12,503 | 10,825 | 11,005 | 11,674 | 14,097 | 13,676 | 12,303 | 10,674 | 7,716 |
Loss on disposal of property, equipment and intangibles | |||||||||||
-357 | -949 | -522 | -658 | -608 | -918 | -765 | 0 | 0 | - | -5 | -91 |
Provision for doubtful accounts | |||||||||||
687 | 439 | 251 | 259 | 342 | 583 | 728 | 231 | 231 | 108 | 733 | 108 |
(Benefit) provision for amount due from former foreign agent | |||||||||||
0 | 2,016 | 10,477 | 0 | 0 | - | - | - | - | - | - | - |
Gain on deconsolidation of variable interest entity | |||||||||||
- | - | - | 273 | 0 | 0 | - | - | - | - | - | - |
Provision for obsolete inventory | |||||||||||
- | - | - | - | - | - | - | - | - | 619 | 232 | 1,352 |
Provision for warranty costs | |||||||||||
- | - | - | - | - | - | - | - | - | 2,355 | 2,220 | 1,646 |
Benefit for deferred income taxes | |||||||||||
-5,965 | -8,274 | 17,276 | 10,149 | -1,974 | -320 | -8,613 | -6,806 | -3,217 | -2,231 | -3,566 | 447 |
Income tax benefit from exercise of stock options granted prior to January 1, 2006 | |||||||||||
- | - | - | - | - | - | 693 | 338 | 1,650 | 4,851 | 2,758 | 17,201 |
Excess tax (benefit) deficit from share-based compensation arrangements | |||||||||||
- | - | - | - | - | - | -1,308 | -748 | 67 | 707 | 215 | 1,889 |
Realized foreign exchange gain on forward contracts | |||||||||||
- | - | - | - | - | - | - | 586 | 0 | - | - | - |
Changes in operating assets and liabilities: | |||||||||||
Increase in accounts receivable | |||||||||||
23,580 | -10,826 | 19,772 | 21,244 | 9,900 | -4,862 | 9,576 | 10,130 | 7,549 | 10,905 | 8,982 | 6,244 |
Decrease in royalties receivable | |||||||||||
- | - | - | - | - | - | - | - | -4,898 | 500 | 125 | -2,491 |
Decrease in accounts receivable from related parties | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -3,053 |
Decrease in inventories | |||||||||||
21,257 | 1,885 | 24,014 | 8,955 | -7,505 | 13,434 | 9,453 | -539 | 916 | 14,088 | 3,929 | 5,588 |
Decrease in other current assets | |||||||||||
8,536 | -3,843 | 5,406 | 4,816 | - | - | - | - | - | - | - | - |
Increase in lease receivable, net | |||||||||||
-11,958 | 0 | 0 | - | - | - | - | - | - | - | - | - |
(Increase) decrease in deferred costs and other contract assets | |||||||||||
-3,308 | 17,935 | 14,102 | 7,661 | 78 | 6,683 | 9,594 | 409 | 4,526 | 19,080 | -309 | 2,232 |
Increase in prepaid expenses | |||||||||||
- | - | - | - | 135 | - | - | - | 1,874 | 743 | -197 | 54 |
(Increase) decrease in prepaid income taxes | |||||||||||
- | - | - | -1,355 | 1,992 | -3,316 | 1,660 | -1,255 | -366 | 1,648 | 833 | 2,376 |
Increase in other non-current assets | |||||||||||
226 | -407 | 10,771 | -455 | 2,883 | 1,824 | 756 | 2,035 | 1,502 | 1,396 | 3,080 | -1,096 |
Decrease in accounts payable | |||||||||||
9,934 | 5,211 | -4,057 | 11,048 | -3,619 | -1,375 | 1,238 | -2,037 | 5,159 | 5,474 | 777 | 1,847 |
Increase (Decrease) in Accounts Payable, Related Parties | |||||||||||
- | - | - | - | - | 0 | - | - | - | - | - | -583 |
Decrease in accrued compensation | |||||||||||
5,338 | 10,195 | -4,292 | 5,675 | 5,334 | 4,948 | 4,557 | 4,827 | -1,333 | 3,219 | 1,926 | 3,121 |
Increase (decrease) in accrued liabilities | |||||||||||
746 | 3,923 | 5,282 | -16,207 | 19,202 | 1,837 | 6,406 | 2,939 | 2,515 | -2,281 | 1,935 | -2,485 |
(Decrease) increase in income tax payable | |||||||||||
4,079 | -1,208 | -72,087 | 73,755 | 1,316 | 4,173 | -381 | 198 | -89 | 940 | -10,169 | 12,754 |
(Decrease) increase in deferred revenue and other contract-related liabilities | |||||||||||
7,739 | 1,420 | -13,295 | 27,945 | 58 | 199 | 1,467 | 2,850 | -921 | 3,012 | -2,518 | 111 |
Increase in other non-current liabilities | |||||||||||
2,038 | -7,577 | 28,013 | 6,565 | -4,587 | 227 | -842 | -2,203 | 1,061 | 1,729 | -1,244 | 4,104 |
Net cash provided by operating activities | |||||||||||
221,640 | 239,527 | 56,062 | 419,125 | 117,206 | 95,613 | 55,103 | 75,123 | 78,957 | 61,020 | 47,106 | 78,111 |
Cash flows from investing activities: | |||||||||||
Purchases of short-term investments | |||||||||||
120,000 | 0 | 0 | - | - | - | - | - | - | 75,986 | 56,989 | - |
Proceeds from sale and maturities of short-term investments | |||||||||||
- | - | - | - | - | - | - | - | - | 132,975 | - | - |
Purchases of property and equipment, net | |||||||||||
68,375 | 17,126 | 43,684 | 19,707 | 50,393 | 75,061 | 9,428 | 10,517 | 5,057 | 9,561 | 3,636 | 6,852 |
Increase in intangible assets | |||||||||||
4,117 | 5,557 | 3,079 | 4,644 | 4,201 | 3,903 | 4,374 | 3,664 | 2,451 | 1,937 | 1,851 | 2,523 |
Acquisitions of equity investments | |||||||||||
- | - | - | 200 | - | - | - | - | - | - | - | - |
(Purchases of) proceeds from strategic investments | |||||||||||
5,189 | -453 | 1,145 | 763 | - | - | - | - | - | - | - | - |
Business acquisition, net of cash acquired | |||||||||||
0 | 3,922 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Reduction in cash resulting from deconsolidation of variable interest entity | |||||||||||
- | - | - | - | 0 | 0 | - | 37,399 | 0 | - | 1,981 | - |
Net cash used in investing activities | |||||||||||
-197,681 | -26,152 | -47,908 | -25,314 | -54,594 | -78,964 | -13,802 | -51,580 | -7,508 | 45,491 | -64,457 | -9,375 |
Cash flows from financing activities: | |||||||||||
Borrowings under revolving line of credit | |||||||||||
- | - | - | 45,000 | 130,000 | 125,000 | 0 | 0 | - | - | - | - |
Repayments under revolving line of credit | |||||||||||
- | - | - | 230,000 | 70,000 | 0 | 0 | - | - | - | - | - |
Debt issuance costs | |||||||||||
- | - | - | - | 0 | 436 | 0 | 0 | - | - | - | - |
Repayments of capital lease obligations | |||||||||||
- | - | - | - | 80 | 111 | 132 | 26 | 50 | 60 | 450 | 30,436 |
Proceeds from issuance of common stock | |||||||||||
28,339 | 44,748 | 62,205 | 37,290 | 28,285 | 4,680 | 3,289 | 1,642 | 5,943 | 10,239 | 2,575 | 9,755 |
Payroll tax withholdings on behalf of employees for vested equity awards | |||||||||||
- | - | - | - | 472 | 0 | 0 | - | - | - | - | - |
Excess tax benefit (deficit) from share-based compensation arrangements | |||||||||||
- | - | - | - | - | - | -1,308 | -748 | 67 | 707 | 215 | 1,889 |
Dividends paid | |||||||||||
- | - | - | - | - | - | - | 57,275 | 0 | 161,978 | - | 13 |
Repurchases of common stock | |||||||||||
37,555 | 18,478 | 66,272 | 68,218 | 150,152 | 102,453 | 19,790 | 26,268 | 36,187 | - | - | - |
Other | |||||||||||
-123 | -490 | -71 | -696 | - | - | - | - | - | - | - | - |
Net equity issuances (repurchases) by noncontrolling interest | |||||||||||
- | - | - | - | 346 | -38 | 0 | 0 | - | - | - | - |
Short swing profit recovery | |||||||||||
- | - | - | - | - | - | - | - | 73 | - | - | - |
Net proceeds from settlement of forward contracts | |||||||||||
- | - | - | - | - | - | - | -586 | 0 | - | - | - |
Net cash provided by financing activities | |||||||||||
-9,339 | 25,780 | -4,138 | -216,624 | -62,073 | 26,642 | -17,941 | -82,089 | -30,154 | -151,092 | 2,340 | -18,805 |
Effect of foreign currency exchange rates on cash | |||||||||||
814 | -1,997 | 3,269 | -1,451 | -2,681 | -4,304 | 552 | 218 | 282 | 832 | 155 | 246 |
Net (decrease) increase in cash, cash equivalents and restricted cash | |||||||||||
15,434 | 237,158 | 7,285 | 175,736 | -2,142 | 38,987 | 23,912 | -58,328 | 41,577 | -43,749 | -14,856 | 50,177 |
Cash paid for: | |||||||||||
Interest | |||||||||||
- | - | - | - | - | - | - | - | 116 | 23 | 78 | 872 |
Income taxes | |||||||||||
- | - | - | - | - | - | - | - | 22,823 | 32,895 | 39,075 | 4,783 |
Noncash investing and financing activities: | |||||||||||
Assets acquired under capital leases | |||||||||||
- | - | - | - | - | - | - | - | 0 | - | 59 | 17 |