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Statements of Cash Flow - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities:    
Net income $ 18,607 $ 13,411
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,571 4,344
Deferred income taxes 2,719 48
Stock-based compensation attributable to equity awards 460 760
Other 530 (49)
Changes in operating assets and liabilities:    
Accounts receivable (1,725) 3,883
Inventories (884) 775
Other assets (2,127) 724
Trade accounts payable and accrued liabilities (16,302) (16,437)
Current income taxes receivable / payable 3,156 3,947
Net cash provided by operating activities 9,005 11,406
Investing Activities:    
Purchases of property, plant and equipment (12,224) (11,872)
Proceeds from sale of assets 90 22
Net cash used in investing activities (12,134) (11,850)
Financing Activities:    
Purchase of treasury stock (20,580) 0
Proceeds from issuance of common stock, net 0 431
Dividends paid (418) (418)
Net cash provided by (used in) financing activities (20,998) 13
Net decrease in cash and cash equivalents (24,127) (431)
Cash and cash equivalents at beginning of period 230,965 178,405
Cash and cash equivalents at end of period $ 206,838 $ 177,974