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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 176,736 $ 179,546
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 18,201 12,781
Provision for doubtful accounts 613 (560)
Noncash stock compensation 1,768 1,887
Share of income of equity investment (109) (125)
Noncash lease expense 4,533 4,163
Deferred tax provision (4,909) (5,075)
Change in fair value of derivatives (153) 740
Changes in:    
Accounts receivable (102,576) (96,076)
Inventories (35,237) (76,786)
Other assets 3,770 3,077
Operating lease liabilities (4,378) (4,044)
Accounts payable and accrued expenses (17,571) (10,919)
Income taxes, net 8,993 15,669
Net cash provided by operating activities 49,681 24,278
Cash flows from investing activities:    
Purchases of short-term investments (146,868) (145,427)
Proceeds from sale of short-term investments 162,176 192,568
Purchases of property, equipment and leasehold improvements (2,889) (4,574)
Payment for intangible assets acquired (850) (2,063)
Net cash provided by investing activities 11,569 40,504
Cash flows from financing activities:    
Proceeds from loans payable, bank 4,348 4,501
Proceeds from issuance of long-term debt 43,484 13,680
Repayment of long-term debt (24,781) (22,527)
Proceeds from exercise of options 1,729 5,523
Dividends paid (71,985) (60,058)
Dividends paid to noncontrolling interest (24,729) (20,301)
Purchase of treasury stock 0 (11,289)
Net cash used in financing activities (71,934) (90,471)
Effect of exchange rate changes on cash 641 740
Net decrease in cash and cash equivalents (10,043) (24,949)
Cash and cash equivalents - beginning of period 88,462 104,713
Cash and cash equivalents - end of period 78,419 79,764
Cash paid for:    
Interest 6,578 4,659
Income taxes $ 48,643 $ 44,693