|
|
|
|
|
Years ended March 31, |
| In thousands |
|
1997 |
|
1996 |
|
1995 |
|
|
|
|
|
|
|
|
|
|
|
|
| Increase (decrease) in Cash and Cash Equivalents |
|
|
|
|
|
|
|
| Cash flows from operating activities: |
|
|
|
| Net income |
|
$ 110,376 |
|
$ 101,454 |
|
$ 59,278 |
|
| Adjustments to reconcile net income to net cash provided by
operating activities: |
|
|
|
|
Write-off of in-process technology |
|
-- |
|
19,366 |
|
-- |
|
| Depreciation and amortization |
|
27,997 |
|
22,464 |
|
12,241 |
|
| Undistributed earnings of joint venture |
|
(1,336) |
|
-- |
|
-- |
|
| Changes in assets and liabilities net of effects of NeoCAD
acquisition: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
7,280 |
|
(34,777) |
|
(7,959) |
|
| Inventories, including the impact of receipts against advances |
|
|
|
|
|
|
|
|
for wafer purchases |
|
(14,095) |
|
19,375 |
|
1,011 |
|
| Deferred income taxes and other |
|
14,134 |
|
(783) |
|
(1,685) |
|
| Accounts payable, accrued liabilities and income taxes payable |
|
(3,193) |
|
7,408 |
|
21,959 |
|
| Deferred income on shipments to distributors |
|
(1,213) |
|
15,755 |
|
3,153 |
|
| Total adjustments net of effects of NeoCAD acquisition |
|
29,574 |
|
48,808 |
|
28,720 |
|
| Net cash provided by operating activities |
|
139,950 |
|
150,262 |
|
87,998 |
|
| Cash flows from investing activities: |
| Purchases of short-term available-for-sale investments |
|
(247,022) |
|
(292,013) |
|
(75,590) |
|
| Proceeds from sale or maturity of short-term available-for-sale
investments |
|
303,604 |
|
92,333 |
|
77,193 |
|
| Purchases of held-to-maturity investments |
|
(72,227) |
|
(96,141) |
|
(362,625) |
|
| Proceeds from maturity of held-to-maturity investments |
|
72,189 |
|
72,555 |
|
350,000 |
|
| Advances for wafer purchases |
|
(60,000) |
|
-- |
|
(42,000) |
|
| Acquisition of NeoCAD, net of cash acquired |
|
-- |
|
(33,412) |
|
-- |
|
| Acquisition of property, plant and equipment |
|
(26,803) |
|
(60,506) |
|
(26,227) |
|
| Investment in joint venture |
|
-- |
|
(34,316) |
|
-- |
|
| Other |
|
|
|
-- |
|
(1,235) |
|
(6,647) |
|
| Net cash used in investing activities |
|
(30,259) |
|
(352,735) |
|
(85,896) |
|
| Cash flows from financing activities: |
| Net proceeds from issuance of long-term debt |
|
-- |
|
243,901 |
|
-- |
|
| Acquisition of Treasury Stock |
|
(32,028) |
|
-- |
|
-- |
|
| Principal payments on capital lease obligations |
|
(977) |
|
(1,389) |
|
(1,421) |
|
| Proceeds from issuance of common stock |
|
28,324 |
|
14,151 |
|
8,688 |
|
| Net cash (used)/provided by financing activities |
|
(4,681) |
|
256,663 |
|
7,267 |
|
| Net increase in cash and cash equivalents |
|
105,010 |
|
54,190 |
|
9,369 |
|
| Cash and cash equivalents at beginning of period |
|
110,893 |
|
56,703 |
|
47,334 |
|
| Cash and cash equivalents at end of period |
|
$ 215,903 |
|
$ 110,893 |
|
$ 56,703 |
|
| Schedule of non-cash transactions: |
| Tax benefit from stock options |
|
$ 16,730 |
|
$ 7,907 |
|
$ 3,456 |
|
| Issuance of Treasury Stock under employee stock plans |
|
30,181 |
|
8,223 |
|
9,195 |
|
| Receipts against advances for wafer purchases |
|
9,034 |
|
32,966 |
|
-- |
|
| Supplemental disclosures of cash flow information: |
| Interest paid |
|
|
13,309 |
|
201 |
|
10,286 |
|
| Income taxes paid |
|
$ 34,426 |
|
$ 74,688 |
|
$ 34,730 |
|
|
