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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net income $ 65,400 $ 55,891
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,225 13,865
Payments on previously accrued litigation settlements (8,490)  
Stock option expense 6,106 5,045
Noncash long-term incentive compensation 1,642 1,598
Provision/(benefit) for deferred income taxes (930) 2,290
Amortization of debt issuance costs 76 76
Provision for bad debts   594
Changes in operating assets and liabilities:    
Decrease in accounts receivable 22,773 6,269
Decrease in inventories 318 149
Decrease in prepaid expenses 4,402 1,211
Decrease in accounts payable and other current liabilities (18,369) (7,037)
Change in current income taxes 18,395 10,159
Net change in lease assets and liabilities (24) (153)
Decrease/(increase) in other assets (5,274) 5,048
Increase/(decrease) in other liabilities 5,759 (6,067)
Other sources 710 388
Net cash provided by operating activities 106,719 89,326
Cash Flows from Investing Activities    
Capital expenditures (17,697) (19,897)
Business combinations   (1,452)
Other sources/(uses) 274 (144)
Net cash used by investing activities (17,423) (21,493)
Cash Flows from Financing Activities    
Purchases of treasury stock (41,107) (100,235)
Proceeds from exercise of stock options 11,026 9,241
Capital stock surrendered to pay taxes on stock-based compensation (6,613) (7,951)
Dividends paid (5,437) (5,130)
Payments on revolving line of credit   (104,100)
Proceeds from revolving line of credit   174,100
Change in cash overdrafts payable   (9,849)
Other sources/(uses) 316 (1,116)
Net cash used by financing activities (41,815) (45,040)
Increase in Cash and Cash Equivalents 47,481 22,793
Cash and cash equivalents at beginning of year 162,675 6,158
Cash and cash equivalents at end of period $ 210,156 $ 28,951