Lattice Semiconductor Corporation Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) |
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Six Months Ended |
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July 1, |
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July 2, |
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2023 |
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2022 |
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Cash flows from operating activities: |
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Net income |
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$ |
106,567 |
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$ |
80,610 |
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
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Stock-based compensation expense |
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35,744 |
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27,249 |
|
Depreciation and amortization |
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16,578 |
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14,272 |
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Other non-cash adjustments |
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3,427 |
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|
3,445 |
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Net changes in assets and liabilities |
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(46,858 |
) |
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(32,658 |
) |
Net cash provided by (used in) operating activities |
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115,458 |
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92,918 |
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Cash flows from investing activities: |
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| Capital expenditures |
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(11,943 |
) |
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(8,917 |
) |
| Other investing activities |
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(5,799 |
) |
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(5,368 |
) |
| Net cash provided by (used in) investing activities |
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(17,742 |
) |
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(14,285 |
) |
| Cash flows from financing activities: |
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| Repayment of long-term debt |
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(85,000 |
) |
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(8,750 |
) |
| Repurchase of common stock |
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(20,006 |
) |
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(50,161 |
) |
| Net cash flows related to stock compensation exercises |
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(34,439 |
) |
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(32,182 |
) |
| Net cash provided by (used in) financing activities |
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(139,445 |
) |
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(91,093 |
) |
| Effect of exchange rate change on cash |
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(220 |
) |
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(1,228 |
) |
| Net increase (decrease) in cash and cash equivalents |
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(41,949 |
) |
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(13,688 |
) |
| Beginning cash and cash equivalents |
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145,722 |
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131,570 |
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| Ending cash and cash equivalents |
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$ |
103,773 |
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$ |
117,882 |
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| Supplemental disclosure of cash flow information and non-cash investing and financing activities: |
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| Interest paid |
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$ |
2,962 |
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$ |
1,337 |
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| Income taxes paid, net of refunds |
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$ |
6,837 |
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$ |
2,355 |
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| Operating lease payments |
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$ |
4,082 |
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$ |
3,706 |
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