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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 8,595 $ 104,778 $ 147,266
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 70,923 72,506 76,320
Non-cash lease expense 33,321 44,518 48,704
Stock-based compensation 15,646 12,367 23,194
Inventory write-down 88,108 43,286 [1] 31,300 [1]
Foreign currency (gains)/losses 1,039 8,245 7,056
Loss on disposal of assets 780 33 13,026
Impairment of fixed assets and other intangibles 0 9,916 31,892
Unrealized (gain)/losses on equity investments 0 0 (18,077)
Deferred taxes (18,090) (51,626) 5,821
Changes in operating assets and liabilities:      
Accounts receivable, net (22,679) (11,449) 20,219
Inventories, net (13,222) (2,972) (126,620)
Prepaid expenses and other 6,359 2,758 15,132
Other assets 45 3,099 (19,792)
Accounts payable (10,083) 9,263 (13,279)
Accrued expenses (37,701) (120,833) (104,992)
Other liabilities (4,402) (15,827) 4,412
Net cash provided by operating activities 118,639 108,062 141,582
Cash flows from investing activities:      
Purchases of property and equipment (58,490) (59,056) (68,615)
Proceeds on investment sales 18,147 5,932 15,094
Purchases of investments (16,883) (13,955) (16,242)
Acquisitions (net of cash acquired) (77,275) 0 (18,963)
Net cash used in investing activities (134,501) (67,079) (88,726)
Cash flows from financing activities:      
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 4,561 27,052 13,861
Payment of cash dividends (77,622) (77,015) (76,272)
Repurchase of shares of common stock (13,011) (70,045) (80,420)
Finance lease principal payments (3,198) (1,919) (1,871)
Payment of debt issuance cost 0 (5,077) 0
Payments on debt (10,000) (432,500) (115,000)
Proceeds from debt 110,000 460,000 155,000
Net cash provided by (used in) financing activities 10,730 (99,504) (104,702)
Effect of exchange rate changes on cash (3,536) (16,347) (11,244)
Net increase (decrease) in cash and cash equivalents (8,668) (74,868) (63,090)
Cash and cash equivalents, beginning of period 264,725 339,593 402,683
Cash and cash equivalents, end of period $ 256,057 $ 264,725 $ 339,593
[1] Year ended December 31, 2022 and 2021 have been recast from Inventories, net to comply with current presentation