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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 220,272,725 $ 186,092,688
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 55,908,679 50,428,320
Gain on disposal of assets (130,647) (83,667)
Loss on disposal of assets 10,544 286,318
Gain on sale of investments (1,245,359) (876,496)
Loss on sale of investments 529,484 37,718
Deferred income taxes (2,743,537) 7,008,364
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 8,652,939 9,114,708
Change in operating assets and liabilities:    
Accounts receivable, net (8,284,592) (17,658,594)
Inventories 4,389,930 (7,228,785)
Prepaid expenses and other (9,171,506) 16,812,179
Accounts payable 16,885,979 2,957,299
Accrued liabilities, excluding dividends declared and short-term debt 7,309,915 16,667,667
Net cash provided by operating activities 292,384,554 263,557,719
Activity in available-for-sale securities:    
Sales proceeds 53,822,336 2,179,926
Maturities and calls 21,884,000 12,100,000
Purchases (177,243,275) (17,216,593)
Plant and equipment additions (51,860,448) (56,218,870)
Proceeds from sale of plant and equipment 179,700 89,701
Decrease (increase) in other assets (2,965,781) 1,783,574
Net cash used for investing activities (156,183,468) (57,282,262)
CASH FLOWS USED FOR FINANCING ACTIVITIES:    
Repayment of debt (54,875,000) (68,750,000)
Issuance of common stock from stock plan transactions 52,996,593 21,929,900
Cash dividends paid (58,152,113) (51,796,194)
Repurchases of common stock (349,205,921) (73,556,886)
Net cash used for financing activities (409,236,441) (172,173,180)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (273,035,355) 34,102,277
CASH AND CASH EQUIVALENTS, beginning of period 569,734,496 [1] 546,477,075
CASH AND CASH EQUIVALENTS, end of period $ 296,699,141 $ 580,579,352
[1] The condensed consolidated balance sheet at December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.3