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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ 18,477 $ 20,750
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 1,659 1,604
Share-based compensation 981 990
Amortization of premium on investment securities 95 129
Deferred income taxes 37 (632)
Change in operating assets and liabilities:    
Accounts receivable 1,047 380
Inventories 888 (4,369)
Income taxes, prepaid 4,976  
Prepaid expenses and other current assets (1,397) (409)
Other assets (1,764) 105
Accounts payable and accrued expenses 1,736 14,186
Net cash flow provided by operating activities 26,735 32,734
Investing Activities    
Sale and maturities of investment securities 1,000 1,000
Purchase of property and equipment (294) (4,444)
Net cash flow provided by (used in) investing activities 706 (3,444)
Financing Activities    
Options exercised by executives and directors   269
Net shares repurchased for employee taxes (487) (256)
Cash dividends paid to stockholders (13,254) (8,826)
Net cash flow used in financing activities (13,741) (8,813)
Foreign currency impact (4) 1
Increase in cash and cash equivalents 13,696 20,478
Cash and cash equivalents - beginning of the period 76,974 81,364
Cash and cash equivalents - end of the period 90,670 101,842
Supplemental disclosure of cash flow information:    
Income taxes paid (received) 80 (24)
Dividends declared included in accounts payable $ 13,566 $ 9,229