| 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 (loss) | ||||||||||
205,095 | 134,258 | -19,425 | 18,518 | 92,894 | -24,009 | -23,342 | 111,951 | 10,334 | 13,540 | 12,886 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
96,870 | 101,590 | 103,821 | 97,731 | 41,372 | 38,671 | 35,646 | 23,868 | 19,745 | 5,777 | 4,071 |
Deferred income taxes | ||||||||||
14,154 | -26,697 | -2,150 | 809 | -22,607 | 13,832 | -1,240 | -3,454 | -228 | 7,379 | 3,638 |
Share-based compensation | ||||||||||
112,118 | 71,342 | 68,864 | 66,309 | 50,764 | 47,235 | 45,138 | 35,019 | 21,412 | 14,101 | 10,736 |
Gains on short-term investments, net | ||||||||||
14,963 | 5,278 | 3,460 | 1,774 | 3,000 | -425 | 1,219 | 896 | 15 | 25 | 327 |
Gain on investments in privately-held companies | ||||||||||
9,569 | 0 | 0 | - | - | - | - | - | - | - | - |
Impairment charges and loss on disposal of property and equipment | ||||||||||
-3,213 | -4,754 | -12,019 | 0 | 3,189 | 0 | - | - | - | - | - |
Excess tax benefit from share-based compensation | ||||||||||
- | - | - | - | - | 342 | 2,662 | 5,141 | 2,411 | 1,101 | - |
Changes in assets and liabilities, net of effect of acquisitions: | ||||||||||
Accounts receivable, net | ||||||||||
79,248 | -3,588 | 12,175 | 41,331 | 19,351 | -5,421 | 9,500 | 8,585 | 15,899 | -525 | -2,981 |
Inventories | ||||||||||
-1,297 | 43,301 | 887 | -8,263 | 24,735 | 9,624 | -9,472 | 19,436 | 8,639 | 2,951 | 3,014 |
Prepaid expenses and other assets | ||||||||||
-17,281 | 2,650 | 681 | -6,948 | 2,619 | 7,687 | -1,414 | 3,239 | 513 | -689 | 982 |
Accounts payable | ||||||||||
33,812 | 10,486 | 170 | 13,330 | 3,750 | 9,659 | -4,447 | 3,430 | 21,065 | -2,249 | 510 |
Accrued liabilities and other liabilities | ||||||||||
44,730 | 16,765 | 15,216 | 27,261 | 30,884 | 6,549 | 2,610 | 48,972 | 18,288 | 5,547 | 2,289 |
Net cash provided by operating activities | ||||||||||
424,790 | 264,857 | 161,312 | 196,064 | 150,541 | 80,130 | 51,870 | 182,489 | 63,139 | 41,232 | 32,788 |
Cash flows from investing activities: | ||||||||||
Purchase of severance-related insurance policies | ||||||||||
0 | 1,203 | 1,312 | 1,172 | 743 | 777 | 849 | 783 | 832 | 789 | 857 |
Purchase of short-term investments | ||||||||||
890,545 | 395,560 | 188,745 | 300,858 | 219,459 | 307,924 | 200,377 | 328,998 | 45,600 | 182,615 | 236,680 |
Proceeds from sales and maturities of short-term investments | ||||||||||
490,900 | 230,629 | 252,211 | 387,489 | 179,700 | 158,054 | 122,997 | 14,860 | 149,889 | 157,377 | 121,768 |
Proceeds from maturities of short-term investments | ||||||||||
- | - | - | - | 129,279 | 78,567 | 117,806 | 64,683 | 12,128 | 50,628 | 20,080 |
Proceeds from sales of property and equipment | ||||||||||
- | - | - | 0 | - | - | - | - | - | - | - |
Purchase of property and equipment, net of proceeds from sales | ||||||||||
37,791 | 33,099 | 41,376 | 42,976 | 48,601 | 29,924 | 30,911 | 30,544 | 24,680 | 11,395 | 3,662 |
Restricted cash | ||||||||||
- | - | - | - | - | 0 | -3,468 | -1,327 | 1,700 | - | 880 |
Purchase of intangible assets | ||||||||||
4,920 | 6,535 | 2,843 | 7,962 | 210 | 0 | 7,440 | - | - | - | - |
Proceeds from sale of investments in privately-held companies | ||||||||||
16,887 | 0 | 0 | - | - | - | - | - | - | - | - |
Purchase of investments in privately-held companies | ||||||||||
8,057 | 12,500 | 15,021 | 4,982 | 0 | 3,455 | 3,123 | 1,424 | - | 135 | 3,500 |
Acquisitions, net of cash acquired | ||||||||||
0 | 7,379 | 872 | 693,692 | 0 | 2,253 | 123,519 | - | - | - | - |
Proceeds from public offering, net | ||||||||||
- | - | - | - | - | - | - | - | 104,201 | - | - |
Net cash provided by (used in) investing activities | ||||||||||
-433,526 | -225,647 | 2,042 | -664,153 | 39,966 | -107,712 | -121,948 | -280,879 | -114,499 | 13,071 | -103,731 |
Cash flows from financing activities: | ||||||||||
Proceeds from term debt | ||||||||||
- | - | - | 280,000 | 0 | 0 | - | - | - | - | - |
Principal payments on term debt | ||||||||||
0 | 74,000 | 172,000 | 34,000 | 0 | 0 | - | - | - | - | - |
Term debt issuance costs | ||||||||||
- | - | - | 5,521 | 0 | 0 | - | - | - | - | - |
Principal payments on intangible assets obligations | ||||||||||
10,378 | 8,426 | 7,369 | 1,364 | 1,105 | 1,381 | 1,111 | 918 | 459 | 528 | 465 |
Proceeds from issuances of ordinary shares through employee equity incentive plans | ||||||||||
32,043 | 37,368 | 29,733 | 22,555 | 18,867 | 16,783 | 14,637 | 29,963 | 18,471 | 9,478 | 3,664 |
Excess tax benefit from share-based compensation | ||||||||||
- | - | - | - | - | 342 | 2,662 | 5,141 | 2,411 | 1,101 | 1,231 |
Net cash provided by (used in) financing activities | ||||||||||
21,665 | -45,058 | -149,636 | 261,670 | 17,762 | 15,744 | 16,188 | 34,186 | 124,624 | 10,051 | 4,430 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||||||
12,929 | -5,848 | 13,718 | -206,419 | 208,269 | -11,838 | -53,890 | -64,204 | 73,264 | 64,354 | -66,513 |
Supplemental disclosures of cash flow information | ||||||||||
Interest paid | ||||||||||
0 | 577 | 5,384 | 5,335 | 27 | 31 | 57 | - | - | 1 | 4 |
Income taxes paid | ||||||||||
2,464 | 2,174 | 1,218 | 835 | 1,114 | 913 | 1,305 | 852 | 469 | 1,550 | 876 |
Supplemental disclosure of non-cash investing and financing activities | ||||||||||
Intangible assets financed with debt | ||||||||||
28,594 | 2,585 | 12,981 | 8,834 | 0 | 0 | - | -4,428 | -563 | - | - |
Unpaid property and equipment | ||||||||||
2,835 | 1,537 | 3,962 | 5,425 | 2,228 | 5,121 | 3,326 | 3,869 | - | - | - |
Transfer from inventory to property and equipment | ||||||||||
5,054 | 3,577 | 1,753 | 3,814 | 6,732 | 1,624 | 1,837 | 1,073 | - | - | - |
Inventory capitalization | ||||||||||
- | - | - | - | - | - | - | - | - | 562 | 426 |
Vested share awards issued in connection with the Voltaire acquisition | ||||||||||
- | - | - | - | - | - | - | - | 6,303 | - | - |