XML 15 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 258,829,882 $ 230,074,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 68,853,761 63,709,095
Gain on disposal of assets (10,900) (18,052)
Loss on disposal of assets 796,234 360,659
Gain on sale of investments (3,170,455) (8,390,451)
Loss on sale of investments 3,512,544 1,828,617
Deferred income taxes 2,204,030 (10,836,858)
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 14,503,307 16,534,607
Excess tax benefits from stock-based compensation (3,391,853) (2,411,583)
Change in operating assets and liabilities:    
Accounts receivable, net (33,267,389) (40,194,912)
Inventories (4,658,192) (22,846,177)
Prepaid expenses and other 21,515,247 9,106,066
Accounts payable 4,647,045 12,435,275
Accrued liabilities, excluding dividends declared 22,661,540 33,810,991
Net cash provided by operating activities 353,024,801 283,161,580
Activity in available-for-sale securities:    
Sales proceeds 75,741,184 45,787,794
Purchases (182,664,625) (34,380,942)
Plant and equipment additions (91,497,229) (62,282,827)
Proceeds from sale of plant and equipment 516,667 4
Decrease in other assets (2,416,610) (1,931,566)
Net cash used for investing activities (200,320,613) (52,807,537)
CASH FLOWS USED FOR FINANCING ACTIVITIES:    
Repayment of long-term debt (30,625,000) (30,625,000)
Issuance of common stock from stock plan transactions 55,449,028 20,008,358
Cash dividends paid (75,217,692) (72,150,137)
Repurchases of common stock (122,741,623) (82,900,454)
Excess tax benefits from stock-based compensation 3,391,853 2,411,583
Net cash used for financing activities (169,743,434) (163,255,650)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (17,039,246) 67,098,393
CASH AND CASH EQUIVALENTS, beginning of period 551,557,527 [1] 497,429,804
CASH AND CASH EQUIVALENTS, end of period $ 534,518,281 $ 564,528,197
[1] Note: The condensed consolidated balance sheet at December 31, 2015 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.