Nine Months Ended September 30, 2021 and 2020
| Nine Months Ended September 30, | |||||||||
| (in thousands) | 2021 | 2020 | |||||||
| Cash flows from operating activities: | |||||||||
| Net income (loss) | $ | 328,252 | $ | (129,764 | ) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||||
| Depreciation and amortization | 26,292 | 34,830 | |||||||
| Stock-based compensation | 43,991 | 16,621 | |||||||
| Provision for inventory obsolescence and revaluation | 1,100 | 10,894 | |||||||
| Loss on hedge accounting de-designation and termination | 721 | 1,235 | |||||||
| Provision for bad debts | 620 | 1,039 | |||||||
| Gain on the disposition of businesses, property, equipment and other assets | (351,981 | ) | 434 | ||||||
| Provision for deferred income taxes and reserve adjustments | (9,380 | ) | — | ||||||
| Impairment of goodwill and assets | — | 54,072 | |||||||
| Changes in operating accounts: | |||||||||
| Accounts receivable | (2,151 | ) | 12,668 | ||||||
| Inventories | 7,095 | (23,987 | ) | ||||||
| Prepaid expenses and other current assets | 5,338 | (15,376 | ) | ||||||
| Accounts payable | 15,517 | (9,166 | ) | ||||||
| Deferred revenue and customer deposits | 5,401 | 2,714 | |||||||
| Accrued and other liabilities | (9,859 | ) | 6,309 | ||||||
| All other operating activities | 1,696 | 4,828 | |||||||
| Net cash provided by (used in) operating activities | 62,652 | (32,649 | ) | ||||||
| Cash flows from investing activities: | |||||||||
| Purchases of property and equipment | (14,814 | ) | (11,015 | ) | |||||
| Proceeds from sale of assets and businesses, net of cash | 427,664 | 552 | |||||||
| Business acquisitions, net of cash acquired | (10,936 | ) | — | ||||||
| Purchase of noncontrolling interest | (4,000 | ) | (12,500 | ) | |||||
| Other investing activities | (2,273 | ) | 504 | ||||||
| Net cash provided by (used in) investing activities | 395,641 | (22,459 | ) | ||||||
| Cash flows from financing activities: | |||||||||
| Proceeds from revolving credit facilities | — | 20,000 | |||||||
| Payments on revolving credit facilities | — | (20,000 | ) | ||||||
| Repayment of borrowings/long-term debt | (21,392 | ) | (26,547 | ) | |||||
| Proceeds from issuance of common stock | — | 25,003 | |||||||
| Proceeds from inventory financing agreements | — | 2,509 | |||||||
| Payments related to net-share settlement of stock-based compensation | (10,386 | ) | (5,034 | ) | |||||
| Other financing activities | (424 | ) | 296 | ||||||
| Net cash used in financing activities | (32,202 | ) | (3,773 | ) | |||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (7,737 | ) | 526 | ||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 418,354 | (58,355 | ) | ||||||
| Cash, cash equivalents and restricted cash at the beginning of the period (a) | 84,711 | 134,617 | |||||||
| Cash, cash equivalents and restricted cash at the end of the period (a) | $ | 503,065 | $ | 76,262 | |||||
