XML 21 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net Cash Provided by (Used in) Operating Activities [Abstract]      
Net Income $ 347,591,276 $ 318,469,859 $ 288,604,579
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 88,587,430 80,599,167 77,376,305
Gain on disposal of assets (146,261) (10,900) (44,410)
Loss on disposal of assets 1,080,486 455,950 640,918
Gain on sale of investments (4,239,895) (9,666,482) (16,742,536)
Loss on sale of investments 3,919,698 2,705,601 1,149,627
Deferred income taxes 22,498,361 13,058,458 14,817,959
Stock based compensation expense related to employee stock options, employee stock purchases and restricted stock 19,192,699 21,430,991 21,276,991
Excess tax benefits from stock based compensation (5,583,391) (2,837,727) (5,502,339)
Change in operating assets and liabilities:      
Accounts receivable (15,622,345) (27,960,696) (24,962,114)
Inventories (14,616,026) (32,937,525) (21,683,721)
Prepaid expenses and other 4,399,366 (9,530,002) (21,946,622)
Accounts payable 13,609,856 (5,103,209) 14,946,662
Accrued liabilities 10,793,540 2,904,940 (708,190)
Net cash flows from operating activities 471,464,794 351,578,425 327,223,109
Activity in available-for-sale securities:      
Sales proceeds 87,293,155 58,517,164 75,613,807
Maturities and calls 5,500,000 0 0
Purchases (216,670,674) (47,513,972) (80,887,357)
Plant and equipment additions (120,955,614) (97,941,762) (72,518,987)
Proceeds from sale of plant and equipment 665,191 43,544 223,833
Increase in other assets (7,278,166) (2,842,635) (2,144,779)
Net cash (used for) investing activities (251,446,108) (89,737,661) (79,713,483)
CASH FLOWS USED FOR FINANCING ACTIVITIES:      
Repayment of long-term debt (47,500,000) (32,500,000) (7,500,000)
Issuance of common stock from stock plan transactions 81,310,048 30,168,496 59,969,006
Cash dividends paid (101,131,356) (96,990,439) (87,632,009)
Repurchases of common stock (163,361,221) (111,228,825) (30,010,882)
Excess tax benefits from stock based compensation 5,583,391 2,837,727 5,502,339
Net cash (used for) financing activities (225,099,138) (207,713,041) (59,671,546)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (5,080,452) 54,127,723 187,838,080
CASH AND CASH EQUIVALENTS, Beginning of year 551,557,527 497,429,804 309,591,724
CASH AND CASH EQUIVALENTS, End of year $ 546,477,075 $ 551,557,527 $ 497,429,804