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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 87,131,768 $ 213,239,036
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,437,698 53,296,388
(Gain) on disposal of assets (155,229) (95,658)
Loss on disposal of assets 88,357 340,070
(Gain) on sale of investments (1,023,683) (218,981)
Loss on sale of investments 72,871 0
Change in deferred income taxes (2,176,462) 196,133
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 15,960,362 10,139,148
Change in operating assets and liabilities:    
Accounts receivable, net 64,981,864 (12,888,533)
Inventories (10,710,548) 187,136
Prepaid expenses and other 14,230,026 (2,311,576)
Accounts payable (37,452,944) (2,769,229)
Accrued liabilities, excluding dividends declared and short-term debt 6,068,104 14,353,360
Net cash provided by operating activities 190,452,184 273,467,294
Activity in available-for-sale securities:    
Sales proceeds 5,607,634 28,845,319
Maturities and calls 90,017,368 9,714,000
Purchases (52,650,769) (40,298,297)
Plant and equipment additions (28,828,066) (45,504,667)
Proceeds from sale of plant and equipment 200,475 227,738
Acquisition of businesses, net of cash acquired (7,031,827) 0
Decrease in other assets (3,886,518) (1,022,057)
Net cash (used for) investing activities 3,428,297 (48,037,964)
CASH FLOWS (USED FOR) FINANCING ACTIVITIES:    
Proceeds from borrowings on Credit Agreement 75,000,000 0
Issuance of common stock from stock plan transactions 15,710,692 41,934,814
Cash dividends paid (58,281,727) (57,918,158)
Repurchases of common stock (178,819,584) (166,138,372)
Net cash (used for) financing activities (146,390,619) (182,121,716)
NET INCREASE IN CASH AND CASH EQUIVALENTS 47,489,862 43,307,614
CASH AND CASH EQUIVALENTS, beginning of period 296,321,622 217,025,278
CASH AND CASH EQUIVALENTS, end of period $ 343,811,484 $ 260,332,892