v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows provided by operating activities:    
Net income $ 17,975 $ 35,686
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 3,870 2,394
Amortization of intangible assets 1,971 36
Amortization of premium and accretion of discount on available-for-sale marketable securities (59) 778
Stock-based compensation 9,704 6,849
Capital loss from disposal of equipment 66 64
Realized loss from sale of available-for-sale marketable securities 120
Changes in assets and liabilities:    
Inventories 964 (15,348)
Prepaid expenses and other assets 10,885 9,210
Trade receivables, net (7,379) (17,935)
Operating lease right-of-use assets and liabilities, net and effect of exchange rate differences 828 (74)
Deferred tax assets and liabilities, net (973) (1,321)
Trade payables, net (21,720) 13,595
Employees and payroll accruals 3,250 7,153
Warranty obligations 14,947 9,384
Deferred revenues 1,730 6,981
Other liabilities 20,271 6,527
Net cash provided by operating activities 56,450 63,979
Cash flows from investing activities:    
Business combination, net of cash acquired (39,315)
Purchase of property, plant and equipment (10,620) (11,325)
Investment in short term bank deposits (56)
Investment in available-for-sale marketable securities (15,316) (25,436)
Proceeds from sales and maturities of available-for-sale marketable securities 44,575 34,500
Net cash used in investing activities (20,732) (2,261)
Cash flows from financing activities:    
Proceeds from bank loans borrowing 51
Payments of bank loans (1,003)
Proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards 309 4,605
Change in Non-controlling interests (977)
Net cash provided by (used in) financing activities (2,630) 4,605
Increase in cash, cash equivalents and restricted cash 33,088 66,323
Cash, cash equivalents and restricted cash at the beginning of the period 193,261 164,679
Effect of exchange rate differences on cash, cash equivalents and restricted cash 1,940 (17)
Cash, cash equivalents and restricted cash at the end of the period 228,289 230,985
Supplemental disclosure of non-cash activities:    
Operating lease, right of use asset $ 32,531