XML 55 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 68,566,071 $ 45,430,567
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,825,402 13,805,949
Gain on disposal of assets (54,520) 0
Loss on disposal of assets 218,409 1,495,536
Gain on sale of investments (5,049,229) 0
Loss on sale of investments 25,808 (2,822,207)
Deferred income taxes (1,614,318) (2,180,428)
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 4,742,080 3,850,063
Excess tax benefits from stock-based compensation (702,580) (341,225)
Change in operating assets and liabilities:    
Accounts receivable, net (28,290,721) (12,347,433)
Inventories (8,275,303) 29,860,576
Prepaid expenses and other 534,133 133,880
Accounts payable 7,889,358 (10,198,080)
Accrued liabilities, excluding dividends declared 39,907,356 30,735,336
Net cash provided by operating activities 97,721,946 97,422,534
Activity in available-for-sale securities:    
Sales proceeds 23,856,516 10,627,243
Maturities and calls 0 3,000,000
Purchases (24,487,944) (33,136,682)
Plant and equipment additions (16,417,890) (12,674,970)
Proceeds from sale of plant and equipment 35,005 9,500
(Increase) decrease in other assets (285,354) (706,899)
Net cash used for investing activities (17,299,667) (32,881,808)
CASH FLOWS USED FOR FINANCING ACTIVITIES:    
Repayment of long-term debt (1,875,000) 0
Issuance of common stock from stock plan transactions 6,227,631 6,592,272
Cash dividends paid (20,380,923) (18,599,926)
Excess tax benefits from stock-based compensation 702,580 341,225
Net cash used for financing activities (15,325,712) (11,666,429)
NET INCREASE IN CASH AND CASH EQUIVALENTS 65,096,567 52,874,297
CASH AND CASH EQUIVALENTS, beginning of period 309,591,724 389,678,664
CASH AND CASH EQUIVALENTS, end of period $ 374,688,291 $ 442,552,961