Liquidity and Capital Resources
July 31, 2013 2012 (in thousands) Working capital
$ 323,597 $ 259,651Cash and cash equivalents $ 310,614 $ 322,642Investments 126,321 -
Total cash, cash equivalents, and investments
Year Ended July 31, 2013 2012 2011 (in thousands)
Cash provided by operating activities
$ 32,102Cash used in investing activities (151,565 ) (14,565 ) (13,000 ) Cash provided by financing activities 25,018 219,322
Net increase (decrease) in cash and cash equivalents
$ (12,028 ) $ 282,125 $ 21,682At July 31, 2013, our cash and cash equivalents and investments of $436.9 millionwere held for working capital purposes, of which approximately $27.2 millionwas held outside the United Statesand not presently available to fund domestic operations and obligations. If we were to repatriate cash held outside the United States, it could be subject to U.S. income taxes, less any previously paid foreign income taxes. We believe that our cash flow from operations with existing cash and cash equivalents will be sufficient to meet our anticipated cash needs for at least the next 12 months. Our future capital requirements will depend on many factors including our growth rate, the timing and extent of spending to support development efforts, the expansion of sales and marketing activities, the introduction of new and enhanced products and services offerings, the costs to ensure access to adequate manufacturing capacity, and the continuing market acceptance of our products. In the event that additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. If we are unable to raise additional capital when desired, our business, operating results, and financial condition would be adversely affected.
Our primary source of cash from operating activities has been from cash collections from our customers. We expect cash inflows from operating activities to be affected by increases in sales and timing of collections. Our primary uses of cash from operating activities have been for personnel costs and purchases from our contract manufacturer. We expect cash outflows from operating activities to be affected by increases in sales and increases in personnel costs as we grow our business. Cash provided by operating activities for fiscal 2013, fiscal 2012, and fiscal 2011 was
$114.5 million, $77.4 million, and $32.1 million, respectively.