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Table of Contents

  

Net income (loss) $271,816 $(5,264)$102,161
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment and intangibles 9,830 9,332 8,805
Loss on impairment of intangible assets 4,752 — —
Stock-based compensation expense 37,765 34,455 29,287
Amortization of discounts and premiums on investments 9,016 4,852 4,068
Deferred income taxes (171,113)— —
Amortization of deferred debt issuance costs 961 961 2,432
Impairment of a long-term cost method investment — — 3,400
Utilization and write-down of trade credits — — 619
Excess tax benefits from employee stock-based compensation (522)— —
Allowance for doubtful accounts 253 219 476
Changes in assets and liabilities:
Accounts receivable 4,698 (14,861)(9,130)
Inventories (7,816)4,425 (5,697)
Deferred cost of technology revenues 3,626 (2,476)(11,527)
Prepaid expenses and other 1,178 4,161 (2,752)
Accounts payable (1,454)(10,280)13,888
Accrued liabilities 829 3,832 15,226
Deferred revenue 330,945 17,925 87,673
Deferred rent and other long-term liabilities 285 8272
Net cash provided by operating activities $495,049 $47,289 $239,201

Purchases of short-term investments (930,546)(579,633)(750,161)
Sales or maturities of long-term and short-term investments 640,311 553,073 436,730
Purchase of long-term investment —(250)—
Acquisition of business, net of cash and cash equivalents acquired —(24,466)—
Acquisition of property and equipment (6,331)(6,451)(4,918)
Acquisition of capitalized software and intangibles —(95)(408)
Net cash used in investing activities $(296,566)$(57,822)$(318,757)

Proceeds from issuance of convertible senior notes, net of issuance costs of $6,391 — — 166,109
Proceeds from issuance of common stock related to exercise of common stock options 7,868 16,268 11,297
Proceeds from issuance of common stock related to employee stock purchase plan 6,016 5,817 5,612
Excess tax benefits from employee stock-based compensation 522 — —
Treasury stock - repurchase of stock (116,280)(24,003)(5,128)
Net cash provided by (used in) financing activities $(101,874)$(1,918)$177,890
$96,609 $(12,451)$98,334

Balance at beginning of period 157,104 169,555 71,221
Balance at end of period $253,713 $157,104 $169,555
SUPPLEMENTAL DISCLOSURE OF CASH AND NON-CASH FLOW INFORMATION
Cash paid for interest 6,900 6,900 3,604
Cash paid (received) for income taxes 2,590 1,013 686
The accompanying notes are an integral part of these consolidated financial statements.
69