Year Ended December 31,
2019
2018
2017
(in thousands)
Cash and cash equivalents
$36,617
$60,444
$67,495
Marketable securities
434,761
339,424
297,115
Working capital
368,912
370,445
361,621
Net cash provided by operating activities
72,819
83,085
61,893
Net cash used in investing activities
(103,579)
(56,237)
(207,907)
Net cash provided by (used in) financing activities
6,933
(33,899)
5,477

text: Liquidity and Capital Resources
text: We fund our operations primarily through cash generated from operations. As of December 31, 2019, we had cash and cash equivalents totalling $36.6 million, marketable securities of $434.8 million and accounts receivable of $97.9 million.
text: We believe our existing cash balances and anticipated cash flow from future operations will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months and the foreseeable future. Our future capital requirements may vary materially from those currently planned and will depend on many factors, including our rate of revenue growth, the timing and extent of spending on research and development efforts and other business initiatives, purchases of capital equipment to support our growth, the expansion of sales and marketing activities, any expansion of our business through acquisitions of or investments in complementary products, technologies or businesses, the use of working capital to purchase additional inventory, the timing of new product introductions, market acceptance of our products and overall economic conditions. To the extent that current and anticipated future sources of liquidity are insufficient to fund our future business activities and requirements, we may be required to seek additional equity or debt financing. In the event additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. We believe our existing cash balances and anticipated cash flow from future operations will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months and the foreseeable future. Our future capital requirements may vary materially from those currently planned and will depend on many factors, including our rate of revenue growth, the timing and extent of spending on research and development efforts and other business initiatives, purchases of capital equipment to support our growth, the expansion of sales and marketing activities, any expansion of our business through acquisitions of or investments in complementary products, technologies or businesses, the use of working capital to purchase additional inventory, the timing of new product introductions, market acceptance of our products and overall economic conditions. To the extent that current and anticipated future sources of liquidity are insufficient to fund our future business activities and requirements, we may be required to seek additional equity or debt financing. In the event additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. We believe our existing cash balances and anticipated cash flow from future operations will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months and the foreseeable future. Our future capital requirements may vary materially from those currently planned and will depend on many factors, including our rate of revenue growth, the timing and extent of spending on research and development efforts and other business initiatives, purchases of capital equipment to support our growth, the expansion of sales and marketing activities, any expansion of our business through acquisitions of or investments in complementary products, technologies or businesses, the use of working capital to purchase additional inventory, the timing of new product introductions, market acceptance of our products and overall economic conditions. To the extent that current and anticipated future sources of liquidity are insufficient to fund our future business activities and requirements, we may be required to seek additional equity or debt financing. In the event additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all.
text: On April 30, 2018, our Board of Directors authorized a stock repurchase program for the repurchase of up to $60.0 million of our common stock, of which $39.7 million was used to repurchase shares in 2018 prior to the program’s expiration on December 31, 2018.

Questions:
question: What happened on April 30, 2018?
answer: Board of Directors authorized a stock repurchase program for the repurchase of up to $60.0 million of our common stock
scale: million
question: How much was used to repurchase shares in 2018?
answer: $39.7
scale: million
question: What are the 3 factors that affect future capital requirement?
answer: rate of revenue growth, the timing and extent of spending on research and development efforts and other business initiatives, purchases of capital equipment to support our growth, the expansion of sales and marketing activities, any expansion of our business through acquisitions of or investments in complementary products, technologies or businesses, the use of working capital to purchase additional inventory, the timing of new product introductions, market acceptance of our products and overall economic conditions.
question: What is the percentage increase in marketable securities from 2018 to 2019? 
answer: 28.09
derivation: (434,761-339,424)/339,424 
scale: percent
question: What is the percentage increase in working capital from 2017 to 2019?
answer: 2.02
derivation: (368,912-361,621)/361,621
scale: percent
question: What is the value of stock repurchase program for 2018?
answer: 60.0
scale: million
question: What is the average Cash and cash equivalents between 2017 to 2019?
answer: 54852
derivation: ($36,617+$60,444+$67,495)/3
scale: thousand