XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 206,733,664 $ 159,933,028
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48,841,936 50,052,518
(Gain) on disposal of assets (214,593) (45,214)
Loss on disposal of assets 220,568 11,776
(Gain) on sale of investments and equity method investment income (2,747,586) (391,378)
Loss on sale of investments and equity method investment losses 4,201,138 989,196
Change in deferred income taxes (5,122,661) 5,044,744
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 18,264,205 15,361,567
Change in operating assets and liabilities:    
Accounts receivable, net (73,915,719) (24,609,666)
Inventories 14,334,001 (76,310,383)
Prepaid expenses and other (2,722,437) (6,035,375)
Accounts payable 22,410,431 48,905,968
Accrued liabilities, excluding dividends declared 11,483,186 16,354,262
Net cash provided by operating activities 241,766,133 189,261,043
Activity in available-for-sale securities:    
Sales proceeds 21,523,990 37,429,595
Maturities and calls 11,650,000 3,000,000
Purchases (65,945,596) (43,756,446)
Plant and equipment additions (90,277,995) (57,998,319)
Proceeds from sale of plant and equipment 140,610 44,881
Increase in other assets (3,486,284) (1,937,117)
Net cash used for investing activities (126,395,275) (63,217,406)
CASH FLOWS USED FOR FINANCING ACTIVITIES:    
Issuance of common stock from stock plan transactions 13,882,810 8,995,167
Cash dividends paid (56,146,939) (56,725,981)
Repurchases of common stock (54,195,766) (71,252,022)
Net cash used for financing activities (96,459,895) (118,982,836)
NET INCREASE IN CASH AND CASH EQUIVALENTS 18,910,963 7,060,801
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, beginning of period 218,754,638 262,311,670
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, end of period $ 237,665,601 $ 269,372,471