MONOLITHIC POWER SYSTEMS INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
MPWR$1,357.60-2.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $1,786,700 | $427,374 | $437,672 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 36,430 | 40,168 | 37,114 |
| Amortization of premium (discount) on available-for-sale securities | (20,145) | (5,277) | 4,375 |
| Loss (gain) on deferred compensation plan investments | (9,400) | (8,505) | 6,600 |
| Deferred taxes, net | (1,302,911) | 5,865 | (13,220) |
| Gain on sale of equity investment | - | (1,424) | - |
| Stock-based compensation expense | 205,640 | 149,711 | 160,992 |
| Other | 28 | (23) | 97 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 7,325 | 2,884 | (77,903) |
| Inventories | (35,215) | 63,583 | (188,073) |
| Other assets | 54,544 | (24,310) | (177,284) |
| Accounts payable | 23,169 | 4,797 | (11,240) |
| Accrued compensation and related benefits | 8,743 | (31,187) | 28,514 |
| Income tax liabilities | 13,226 | (308) | 16,559 |
| Other accrued liabilities | 20,276 | 14,865 | 22,471 |
| Net cash provided by operating activities | 788,410 | 638,213 | 246,674 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (146,118) | (57,578) | (58,843) |
| Cash paid for an assumed lease | (18,175) | - | - |
| Purchases of investments | (1,082,706) | (582,603) | (65,785) |
| Maturities and sales of investments | 1,508,135 | 468,308 | 128,610 |
| Cash paid for acquisition, net of cash acquired | (33,283) | - | - |
| Contributions to deferred compensation plan, net | (4,806) | (6,853) | (16,492) |
| Net cash provided by (used in) investing activities | 223,047 | (178,726) | (12,510) |
| Cash flows from financing activities: | |||
| Property and equipment purchased on extended payment terms | (4,087) | (2,826) | (2,055) |
| Proceeds from common stock issued under the employee equity incentive plan | - | 1,118 | 5,358 |
| Proceeds from common stock issued under the employee stock purchase plan | 8,727 | 7,568 | 5,877 |
| Repurchases of common stock | (636,244) | (3,741) | - |
| Dividends and dividend equivalents paid | (240,623) | (185,844) | (137,965) |
| Net cash used in financing activities | (872,227) | (183,725) | (128,785) |
| Effect of change in exchange rates | (8,470) | (3,310) | (6,039) |
| Net increase in cash, cash equivalents and restricted cash | 130,760 | 272,452 | 99,340 |
| Cash, cash equivalents and restricted cash, beginning of period | 561,181 | 288,729 | 189,389 |
| Cash, cash equivalents and restricted cash, end of period | $691,941 | $561,181 | $288,729 |
| Supplemental disclosures for cash flow information: | |||
| Cash paid for income taxes, net | $79,562 | $85,128 | $85,031 |
| Non-cash investing and financing activities: | |||
| Liability accrued for property and equipment purchases | $22,292 | $1,784 | $5,743 |
| Liability accrued for dividends and dividend equivalents | $63,409 | $53,213 | $40,939 |
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