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Statements of Cash Flow - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities:    
Net income $ 30,955 $ 31,193
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,321 8,785
Deferred income taxes 3,327 816
Stock-based compensation attributable to equity awards 1,091 1,262
Other 520 (111)
Changes in operating assets and liabilities:    
Accounts receivable 30,331 (20,615)
Inventories 1,804 6,328
Other assets (1,652) (200)
Trade accounts payable and accrued liabilities (21,514) 2,266
Current income taxes receivable / payable 6,101 (1,873)
Net cash provided by operating activities 60,284 27,851
Investing Activities:    
Purchases of property, plant and equipment (21,921) (21,210)
Proceeds from sale of assets 90 22
Net cash used in investing activities (21,831) (21,188)
Financing Activities:    
Purchase of treasury stock (20,662) 0
Proceeds from issuance of common stock, net 2,455 568
Dividends paid (828) (836)
Net cash used in financing activities (19,035) (268)
Net increase in cash and cash equivalents 19,418 6,395
Cash and cash equivalents at beginning of period 230,965 178,405
Cash and cash equivalents at end of period $ 250,383 $ 184,800