Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Operating activities |
|
|
| Net income |
$ 33,335
|
$ 34,521
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
12,831
|
10,422
|
| Share-based Compensation |
5,260
|
4,515
|
| Deferred taxes |
495
|
(310)
|
| Excess tax benefit from stock-based compensation |
(1,965)
|
(5,212)
|
| Loss on impairment of assets |
455
|
|
| Amortization of held-to-maturity securities |
881
|
936
|
| Other |
(1,381)
|
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(1,626)
|
(8,827)
|
| Inventories |
(203)
|
(1,117)
|
| Prepaid expenses and other |
(1,107)
|
(2,596)
|
| Income taxes |
8,114
|
(546)
|
| Accounts payable |
(2,043)
|
3,744
|
| Accrued liabilities and other |
3,131
|
5,754
|
| Net cash provided by operating activities |
56,177
|
41,284
|
| Investing activities |
|
|
| Purchases of property and equipment |
(30,981)
|
(27,259)
|
| Purchases of marketable securities |
(56,213)
|
(42,674)
|
| Proceeds from maturities of marketable securities |
45,907
|
40,899
|
| Net cash used in investing activities |
(41,287)
|
(29,034)
|
| Financing activities |
|
|
| Payments on debt |
|
(107)
|
| Acquisition-related contingent consideration |
(400)
|
(1,400)
|
| Proceeds from exercises of stock options and other |
4,168
|
5,165
|
| Excess tax benefit from stock-based compensation |
1,965
|
5,212
|
| Net cash provided by financing activities |
5,733
|
8,870
|
| Effect of exchange rate changes on cash and cash equivalents |
(58)
|
(318)
|
| Net increase in cash and cash equivalents |
20,565
|
20,802
|
| Cash and cash equivalents, beginning of period |
47,653
|
43,329
|
| Cash and cash equivalents, end of period |
$ 68,218
|
$ 64,131
|