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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 76,070 $ 69,715 $ 55,253
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization including impairment loss 8,729 11,031 11,914
Provision for doubtful accounts 1,380 1,442 939
Noncash stock compensation 3,394 2,205 2,093
Lease expense 1,068
Deferred tax benefit (2,330) (158) (591)
Change in fair value of derivatives (169) (302) (1,254)
Changes in:      
Accounts receivable 1,124 (21,532) (4,116)
Inventories (5,925) (29,341) (28,518)
Other assets (4,945) (1,016) (1,173)
Accounts payable and accrued expenses (4,960) 25,592 5,696
Income taxes, net 3,016 5,405 (4,352)
Net cash provided by operating activities 76,452 63,041 35,891
Cash flows from investing activities:      
Purchases of short-term investments (38,958) (10,030) (31,874)
Proceeds from sale of short-term investments 44,814 8,859 66,981
Purchase of equipment and leasehold improvements (5,427) (3,956) (3,023)
Payment for intangible assets acquired (6,067) (8,509) (1,046)
Proceeds from sale of trademark 5,886
Net cash provided by (used in) investing activities (5,638) (13,636) 36,924
Cash flows from financing activities:      
Repayment of long-term debt (22,321) (23,487) (22,362)
Proceeds from exercise of options 4,458 3,406 1,963
Dividends paid (34,579) (26,287) (21,192)
Dividends paid to noncontrolling interests (9,654) (8,706) (6,039)
Purchase of subsidiary shares from noncontrolling interests (6,087) (808)
Net cash used in financing activities (68,183) (55,882) (47,630)
Effect of exchange rate changes on cash (3,350) (8,730) 21,330
Net increase (decrease) in cash and cash equivalents (719) (15,207) 46,515
Cash and cash equivalents – beginning of year 193,136 208,343 161,828
Cash and cash equivalents – end of year 192,417 193,136 208,343
Cash paid for:      
Interest 1,764 1,745 1,813
Income taxes $ 26,332 $ 24,995 $ 24,337