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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 204,224,370 $ 325,136,888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 78,489,026 79,331,513
(Gain) on disposal of assets (281,542) (148,376)
Loss on disposal of assets 146,195 495,697
(Gain) on sale of investments (1,504,757) (593,351)
Loss on sale of investments 143,370 0
Change in deferred income taxes (9,559,993) 2,189,818
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 23,266,906 15,927,434
Change in operating assets and liabilities:    
Accounts receivable, net (32,832,997) (39,570,916)
Inventories 15,659,539 (13,395,196)
Prepaid expenses and other 8,934,297 (2,729,945)
Accounts payable (7,389,582) 2,499,481
Accrued liabilities, excluding dividends declared and short-term debt 49,749,418 14,797,251
Net cash provided by operating activities 329,044,250 383,940,298
Activity in available-for-sale securities:    
Sales proceeds 15,559,590 57,087,935
Maturities and calls 117,172,368 9,714,000
Purchases (59,933,780) (66,360,636)
Plant and equipment additions (37,048,073) (58,322,472)
Proceeds from sale of plant and equipment 331,465 1,937,207
Acquisition of businesses, net of cash acquired (8,043,217) 0
Increase in other assets (3,326,783) (3,111,644)
Net cash (used for) investing activities 24,711,570 (59,055,610)
CASH FLOWS (USED FOR) FINANCING ACTIVITIES:    
Proceeds from borrowings on Credit Agreement 75,000,000 0
Repayment of borrowings on Credit Agreement (50,000,000) 0
Issuance of common stock from stock plan transactions 23,677,181 68,221,875
Cash dividends paid (87,774,635) (87,217,383)
Repurchases of common stock (210,480,446) (262,763,375)
Net cash (used for) financing activities (249,577,900) (281,758,883)
NET INCREASE IN CASH AND CASH EQUIVALENTS 104,177,920 43,125,805
CASH AND CASH EQUIVALENTS, beginning of period 296,321,622 217,025,278
CASH AND CASH EQUIVALENTS, end of period $ 400,499,542 $ 260,151,083