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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income $ 88,026 $ 40,412
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 4,640 3,481
Share-based compensation 4,344 2,117
Amortization of premium on investment securities 49 182
Deferred income taxes   (764)
Change in operating assets and liabilities:    
Inventories (42,398) 10,191
Income taxes, prepaid   5,169
Prepaid expenses and other current assets (4,657) 260
Other assets (762) (2,446)
Accounts payable and accrued expenses 36,962 25,651
Net cash flow provided by operating activities 86,204 84,253
Investing Activities    
Sale and maturities of investment securities 5,145 1,000
Purchase of property and equipment (12,196) (583)
Net cash flow (used in) provided by investing activities (7,051) 417
Financing Activities    
Options exercised by executives and directors 702 1,250
Net shares repurchased for employee taxes (1,833) (496)
Cash dividends paid to stockholders (30,095) (26,568)
Stock repurchases (19,730) (5,000)
Net cash flow used in financing activities (50,956) (30,814)
Foreign currency impact 67 (2)
Increase in cash and cash equivalents 28,264 53,854
Cash and cash equivalents - beginning of the period 163,723 76,974
Cash and cash equivalents - end of the period 191,987 130,828
Supplemental disclosure of cash flow information:    
Income taxes paid (received) 26,751 120
Dividends declared included in accounts payable $ 17,531 $ 13,604