XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 40,412 $ 42,133
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 3,481 3,288
Share-based compensation 2,117 2,245
Loss on sale of disposal of property, plant and equipment   17
Amortization of premium on investment securities 182 249
Deferred income taxes (764) 375
Change in operating assets and liabilities:    
Accounts receivable 601 33
Inventories 10,191 (9,585)
Income taxes, prepaid 5,169 (1,365)
Prepaid expenses and other current assets (341) (3,052)
Other assets (2,446) 43
Accounts payable and accrued expenses 25,651 12,831
Net cash flow provided by operating activities 84,253 47,212
Investing Activities    
Sale and maturities of investment securities 1,000 2,430
Purchase of property and equipment (583) (6,972)
Net cash flow provided by (used in) investing activities 417 (4,542)
Financing Activities    
Options exercised by executives and directors 1,250 279
Net shares repurchased for employee taxes (496) (256)
Cash dividends paid to stockholders (26,568) (17,749)
Stock repurchases (5,000) (9,998)
Net cash flow used in financing activities (30,814) (27,724)
Foreign currency impact (2) 1
Increase in cash and cash equivalents 53,854 14,947
Cash and cash equivalents - beginning of the period 76,974 81,364
Cash and cash equivalents - end of the period 130,828 96,311
Supplemental disclosure of cash flow information:    
Income taxes paid (received) 120 11,338
Dividends declared included in accounts payable $ 13,604 $ 9,102