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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income $ 52,572 $ 60,117
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,532 18,971
Amortization of debt issuance costs 31 31
Provision for credit losses on accounts receivable, net of adjustments 0 193
Provision for excess and obsolete inventories 378 1,776
Share-based compensation 8,784 8,546
Gain on disposal of assets (15) (61)
Foreign currency transaction (gain) loss (1) 18
Interest income on note receivable (19) (19)
Deferred 2,766 7,676
Changes in assets and liabilities:    
Accounts receivable (11,369) 5,011
Income taxes 2,588 (3,142)
Inventories (22,712) (6,994)
Prepaid expenses and other 937 (598)
Accounts payable 16,390 3,654
Deferred revenue 316 1,128
Accrued liabilities 1,525 688
Net cash provided by operating activities 74,703 96,995
Investing Activities    
Capital expenditures (42,636) (48,955)
Proceeds from sale of property, plant and equipment 19 61
Principal payments from note receivable 41 38
Net cash used in investing activities (42,576) (48,856)
Financing Activities    
Stock options exercised 14,573 18,519
Repurchase of stock (15,014) (21,390)
Employee taxes paid by withholding shares (1,537) (1,130)
Cash dividends paid to stockholders (9,964) (9,910)
Net cash used in financing activities (11,942) (13,911)
Net increase in cash, cash equivalents and restricted cash 20,185 34,228
Cash, cash equivalents and restricted cash, beginning of period 82,288 44,373
Cash, cash equivalents and restricted cash, end of period $ 102,473 $ 78,601