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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 38,268 $ 72,953
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 34,147 35,764
Non-cash lease expense 16,522 21,978
Stock-based compensation 8,803 6,149
Foreign currency (gains)/losses (1,435) 4,769
(Gain)/loss on disposal of assets 349 212
Deferred taxes 1,151 4,369
Changes in operating assets and liabilities:    
Accounts receivable, net (22,368) (6,926)
Inventories, net (18,455) 32,213
Prepaid expenses and other (12,140) (17,527)
Other assets (2,709) 4,461
Accounts payable (4,195) 10,246
Accrued expenses (23,345) (97,413)
Other liabilities (1,148) (17,152)
Net cash provided by operating activities 13,445 54,096
Cash flows from investing activities:    
Purchases of property and equipment (26,199) (19,818)
Proceeds on investment sales 13,160 5,290
Purchases of investments (16,883) (13,955)
Acquisitions (net of cash acquired) (77,275) 0
Net cash used in investing activities (107,197) (28,483)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 4,782 24,598
Payment of cash dividends (38,867) (38,685)
Repurchases of shares of common stock 0 (20,010)
Finance lease principal payments (1,546) (927)
Payment of debt issuance costs 0 (5,077)
Payments of debt (5,000) (407,500)
Proceeds from debt 110,000 460,000
Net cash provided by financing activities 69,369 12,399
Effect of exchange rate changes on cash (4,788) (13,682)
Net (decrease) / increase in cash and cash equivalents (29,171) 24,330
Cash and cash equivalents, beginning of period 264,725 339,593
Cash and cash equivalents, end of period $ 235,554 $ 363,923