XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 74,865 $ 58,035
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 5,259 5,097
Share-based compensation 4,243 3,415
Loss on sale of disposal of property, plant and equipment 28 17
Bad debt expense 508 3,209
Amortization of premium on investment securities 263 355
Deferred income taxes (735) 1,093
Change in operating assets and liabilities:    
Accounts receivable 282 (3,649)
Inventories 7,035 (13,037)
Income taxes, prepaid 5,169 (3,200)
Prepaid expenses and other current assets 938 (232)
Other assets (2,566) 188
Accounts payable and accrued expenses 30,078 13,818
Net cash flow provided by operating activities 125,367 65,109
Investing Activities    
Sale and maturities of investment securities 2,000 3,730
Purchase of property and equipment (3,852) (9,224)
Net cash flow provided by (used in) investing activities (1,852) (5,494)
Financing Activities    
Options exercised by executives and directors 1,424 279
Net shares repurchased for employee taxes (532) (289)
Cash dividends paid to stockholders (39,892) (26,658)
Stock repurchases (5,000) (33,114)
Net cash flow used in financing activities (44,000) (59,782)
Foreign currency impact (3) (1)
Increase in cash and cash equivalents 79,512 (168)
Cash and cash equivalents - beginning of the period 76,974 81,364
Cash and cash equivalents - end of the period 156,486 81,196
Supplemental disclosure of cash flow information:    
Income taxes paid (received) 14,135 17,333
Dividends declared included in accounts payable $ 13,715 $ 8,955