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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income $ 58,035 $ 40,136
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 3,363 3,519
Share-based compensation 3,415 2,352
Loss on sale of disposal of property, plant and equipment 17 50
Bad debt expense 3,209 642
Amortization of premium on investment securities 355 434
Deferred income taxes 1,093 (2,028)
Change in operating assets and liabilities:    
Accounts receivable (3,649) (526)
Inventory (13,037) (23,615)
Income taxes, prepaid (3,200) 2,272
Prepaid expenses and other current assets (232) 453
Other assets 188 134
Accounts payable and accrued expenses 15,552 21,655
Net cash flow provided by operating activities 65,109 45,478
Investing Activities    
Sale and maturities of investment securities 3,730 2,245
Sale of property and equipment   184
Purchase of property and equipment (9,224) (3,246)
Net cash flow used in investing activities (5,494) (817)
Financing Activities    
Options exercised by executives and directors 279 220
Net shares repurchased for employee taxes (289) (249)
Cash dividends paid to stockholders (26,658) (17,404)
Stock repurchases (33,114) (19,996)
Net cash flow used in financing activities (59,782) (37,429)
Foreign currency impact (1) (2)
Increase in cash and cash equivalents (168) 7,230
Cash and cash equivalents - beginning of the period 81,364 75,077
Cash and cash equivalents - end of period 81,196 82,307
Supplemental disclosure of cash flow information:    
Income taxes paid 17,333 9,540
Dividends declared included in accounts payable $ 8,955 $ 5,981