Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Mar. 31, 2020 |
Mar. 31, 2019 |
Mar. 31, 2018 |
| Operating activities: |
|
|
|
| Net income |
$ 203,009
|
$ 259,016
|
$ 112,170
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
20,430
|
14,121
|
11,005
|
| Bad debt expense |
487
|
720
|
38
|
| Stock-based compensation |
39,781
|
54,494
|
40,353
|
| Write-down of inventory and other |
4,249
|
4,252
|
3,946
|
| Accretion on marketable securities |
(2,731)
|
(2,744)
|
|
| Change in fair value of other investments |
5,184
|
(30,161)
|
|
| Deferred tax provision |
32,953
|
(7,745)
|
42,624
|
| Change in fair value of contingent consideration |
(575)
|
(915)
|
1,337
|
| Other non-cash operating activities |
4,108
|
|
|
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
5,551
|
(22,023)
|
(15,289)
|
| Inventories |
(13,237)
|
(37,181)
|
(15,686)
|
| Prepaid expenses and other assets |
(5,333)
|
(2,527)
|
(4,466)
|
| Accounts payable |
2,581
|
7,976
|
4,412
|
| Accrued expenses and other liabilities |
15,676
|
13,406
|
7,722
|
| Deferred revenue |
2,787
|
1,508
|
4,380
|
| Net cash provided by operating activities |
314,920
|
252,197
|
192,546
|
| Investing activities: |
|
|
|
| Purchases of marketable securities |
(611,280)
|
(361,602)
|
(325,408)
|
| Proceeds from the sale and maturity of marketable securities and other |
550,788
|
331,886
|
206,909
|
| Purchases of other investments and intangible assets |
(20,957)
|
(42,735)
|
(6,400)
|
| Purchases of property and equipment |
(44,006)
|
(44,004)
|
(55,863)
|
| Net cash used for investing activities |
(125,455)
|
(116,455)
|
(180,762)
|
| Financing activities: |
|
|
|
| Proceeds from the exercise of stock options |
3,748
|
12,949
|
9,303
|
| Taxes paid related to net share settlement upon vesting of stock awards |
(41,687)
|
(71,776)
|
(20,317)
|
| Repurchase of common stock |
(84,879)
|
|
|
| Proceeds from the issuance of stock under employee stock purchase plan |
5,103
|
3,052
|
2,394
|
| Principal payments on capital lease obligation |
|
|
(517)
|
| Net cash used for financing activities |
(117,715)
|
(55,775)
|
(9,137)
|
| Effect of exchange rate changes on cash |
(430)
|
(1,921)
|
1,288
|
| Net increase in cash and cash equivalents |
71,320
|
78,046
|
3,935
|
| Cash and cash equivalents at beginning of year |
121,021
|
42,975
|
39,040
|
| Cash and cash equivalents at end of year |
192,341
|
121,021
|
42,975
|
| Supplemental disclosure of cash flow information: |
|
|
|
| Cash paid for income taxes |
9,685
|
5,290
|
4,641
|
| Cash paid for interest on capital lease obligation |
|
|
302
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
| Property and equipment in accounts payable and accrued expenses |
2,977
|
$ 4,787
|
$ 3,338
|
| Right-of-use assets obtained in exchange for lease liabilities |
$ 15,650
|
|
|