v3.21.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 39,222 $ 74,667
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation expense 10,915 8,934
Amortization expense of assets and liabilities, net 4,701 4,660
Accretion of convertible note discount 179 256
Amortization of marketable securities 659 0
(Gain) loss on debt extinguishment 1,922 (1,172)
Provision for doubtful accounts 21 456
Impairment of property, plant and equipment 822 0
Stock compensation expense 1,844 1,367
Deferred tax expense 1,000 1,034
Other operating activities 49 161
Changes in assets and liabilities:    
Accounts receivable, net 13,770 104,598
Inventories (80,664) (44,881)
Prepaid expenses and other assets (16,241) (28,273)
Accounts payable (24,865) 3,400
Accrued expenses and other liabilities (5,908) (17,803)
Operating lease obligations (4,158) (4,107)
Deferred revenue (4,264) 2,102
Cash provided by (used in) operating activities (60,996) 105,399
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for marketable securities (93,092) 0
Cash received from maturities of marketable securities 90,722 0
Cash paid for purchase of property, plant and equipment (10,487) (9,030)
Other investing activities (1,500) 0
Cash used in investing activities (14,357) (9,030)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings on revolving line of credit 0 82,756
Cash paid on notes payable (27,159) (40,141)
Cash received from equity offering 385,250 0
Cash paid for equity offering costs (19,565) 0
Cash paid for conversion of restricted stock units and stock appreciation rights (11,633) (823)
Cash provided from financing activities 326,893 41,792
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 251,540 138,161
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, Beginning of period 88,218 53,436
Effect of exchange rate changes on cash (223) (47)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, End of period 339,535 191,550
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:    
Cash paid for income taxes 913 0
Cash paid for interest 606 885
Leased assets obtained in exchange for new operating lease liabilities 11,293 903
Amounts included in period-end accounts payable for:    
Purchases of property, plant and equipment 5,701 6,739
Equity issuance costs $ 405 $ 0

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