v3.22.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 12,477 $ 39,222
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation expense 10,497 10,915
Amortization expense of assets and liabilities, net 6,790 4,701
Accretion of convertible note discount 0 179
Amortization of marketable securities 1,018 659
Gain on sale of property, plant and equipment (1,935) 0
Loss on debt extinguishment 0 1,922
Provision (benefit) for doubtful accounts (301) 21
Impairment of property, plant and equipment 2,748 822
Stock compensation expense 2,256 1,844
Deferred tax expense 806 1,000
Other operating activities (34) 49
Changes in assets and liabilities:    
Accounts receivable, net (52,339) 13,770
Inventories (97,100) (80,664)
Prepaid expenses and other assets (42,563) (16,241)
Accounts payable 50,583 (24,865)
Accrued expenses and other liabilities (5,697) (5,908)
Operating lease obligations (3,757) (4,158)
Deferred revenue 10,033 (4,264)
Cash used in operating activities (106,518) (60,996)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for marketable securities (53,257) (93,092)
Cash received from maturities of marketable securities 62,184 90,722
Cash paid for purchase of property, plant and equipment (58,534) (10,487)
Cash receipts for sale of property, plant and equipment 3,984 0
Other investing activities (500) (1,500)
Cash used in investing activities (46,123) (14,357)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash paid on notes payable 0 (27,159)
Cash received from equity offering 0 385,250
Cash paid for equity offering costs 0 (19,565)
Cash paid for conversion of restricted stock units and stock appreciation rights (5,327) (11,633)
Cash provided from (used in) financing activities (5,327) 326,893
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (157,968) 251,540
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, Beginning of period 501,871 88,218
Effect of exchange rate changes on cash (200) (223)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, End of period 343,703 339,535
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:    
Cash paid for income taxes 1,662 913
Cash paid for interest 180 606
Leased assets obtained in exchange for new operating lease liabilities 6,121 11,293
Amounts included in period-end accounts payable for:    
Purchases of property, plant and equipment 29,427 5,701
Equity issuance costs $ 0 $ 405

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