XML 28 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities      
Net income $ 88,181 $ 53,158 $ 23,511
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 12,087 11,227 11,645
Amortization of deferred financing costs 144 144 145
Benefit for deferred income taxes (5,145) (1,253) (13,657)
Change in fair value of equity securities (6,281) 13,238
Change in fair value of derivative instruments (30) (2,130) 2,170
Other than temporary impairment of marketable securities 814
Loss (gain) on the sale of investments 1,662 (1,227) (127)
Stock based compensation 21 357 998
(Gain) loss on disposal of property and equipment (11) 41 195
Noncash interest expense 29 28 27
Changes in operating assets and liabilities:      
Accounts receivable (93,970) 5,679 2,386
Accounts receivable – related parties (2,758) (1,679) 220
Inventory 1,723 4,458 8,339
Income tax receivable (1,204) 79 13,571
Prepaid expenses (165) (107) 34
Accrued interest on marketable securities (33) (25) 16
Other assets 239 (317) (9)
Accounts payable 41,453 1,243 (4,403)
Accounts payable - related parties (434) 506 (71)
Accrued expenses and other current liabilities 1,087 274 60
Accrued expenses and other current liabilities – related parties 64 (142)
Deferred revenue 1,628 (1,258) (4,215)
Other noncurrent liabilities (3,649) 3,177 (2,160)
Net cash provided by operating activities 34,638 85,613 39,347
Cash flows from investing activities      
Collateralization of derivative instruments (111) 1,680 (1,901)
Purchase of marketable securities (20,131) (19,664) (30,959)
Proceeds from the sale of marketable securities 31,419 48,235 23,254
Proceeds from the sale of property and equipment 13 22 4
Capital expenditures (6,971) (4,867) (3,581)
Net cash provided by (used in) investing activities 4,219 25,406 (13,183)
Cash flows from financing activities      
Minimum tax withholding on stock options exercised and awards vested (176) (121)
Payment of dividends (10,498) (10,498) (110,688)
Net cash used in financing activities (10,498) (10,674) (110,809)
Net change in cash and cash equivalents 28,359 100,345 (84,645)
Cash and cash equivalents at beginning of period 214,972 114,627 199,272
Cash and cash equivalents at end of period 243,331 214,972 114,627
Cash paid for interest
Cash paid for income taxes 2,372 9,182 55
Noncash investing and financing activities:      
Noncash capital expenditures 207 420
Noncash operating leases 432
Noncash items incurred for dividends $ 10,498 $ 10,498 $ 10,498