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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 199,957,288 $ 87,131,768
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51,497,665 53,437,698
(Gain) on disposal of assets (19,891) (155,229)
Loss on disposal of assets 133,036 88,357
(Gain) on sale of investments (969,971) (1,023,683)
Loss on sale of investments 192,346 72,871
Change in deferred income taxes (3,546,862) (2,176,462)
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 12,622,158 15,960,362
Change in operating assets and liabilities:    
Accounts receivable, net 50,784,339 64,981,864
Inventories (37,608,133) (10,710,548)
Prepaid expenses and other (41,394,722) 14,230,026
Accounts payable 16,477,865 (37,452,944)
Accrued liabilities, excluding dividends declared and short-term debt 4,117,051 6,068,104
Net cash provided by operating activities 252,242,169 190,452,184
Activity in available-for-sale securities:    
Sales proceeds 34,250,068 5,607,634
Maturities and calls 16,685,000 90,017,368
Purchases (71,596,074) (52,650,769)
Plant and equipment additions (31,352,443) (28,828,066)
Proceeds from sale of plant and equipment 99,850 200,475
Acquisition of businesses, net of cash acquired (12,023,440) (7,031,827)
Increase in other assets (458,637) (3,886,518)
Net cash (used for) provided by investing activities (64,395,676) 3,428,297
CASH FLOWS (USED FOR) FINANCING ACTIVITIES:    
Proceeds from borrowings on Credit Agreement 0 75,000,000
Issuance of common stock from stock plan transactions 13,656,884 15,710,692
Cash dividends paid (58,227,768) (58,281,727)
Repurchases of common stock (213,613,842) (178,819,584)
Net cash (used for) financing activities (258,184,726) (146,390,619)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (70,338,233) 47,489,862
CASH AND CASH EQUIVALENTS, beginning of period 423,371,036 296,321,622
CASH AND CASH EQUIVALENTS, end of period $ 353,032,803 $ 343,811,484