XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 164,031 $ 102,859 $ 77,916
Adjustments to reconcile net income to cash provided by operating activities      
Depreciation and amortization 6,812 4,316 4,624
Non-cash lease expense 5,069 3,189 2,624
Share-based compensation 9,903 6,796 4,520
Loss on sale of disposal of property, plant and equipment 2 212 17
Amortization of premium on investment securities 89 320 454
Deferred income taxes (3,715) 601 1,598
Change in operating assets and liabilities:      
Inventories (126,651) (4,621) (9,883)
Income taxes, prepaid (945) 5,169 (5,169)
Prepaid expenses and other current assets (9,887) 1,086 (1,936)
Other assets (4,543) (2,741) (2,615)
Accounts payable and accrued expenses 54,380 28,010 12,111
Net cash flow provided by operating activities 94,545 145,196 84,261
Investing Activities      
Sale and maturities of investment securities 5,145 4,605 3,730
Purchase of property and equipment (34,209) (5,887) (10,058)
Net cash flow used in investing activities (29,064) (1,282) (6,328)
Financing Activities      
Options exercised by executives and directors 811 1,597 278
Net shares repurchased for taxes (6,089) (551) (14,092)
Cash dividends paid to stockholders (63,856) (53,190) (35,396)
Stock repurchases (55,999) (5,000) (33,114)
Net cash flow used in financing activities (125,133) (57,144) (82,324)
Foreign currency impact 112 (21) 1
(Decrease) Increase in cash and cash equivalents (59,540) 86,749 (4,390)
Cash and cash equivalents - beginning of the period 163,723 76,974 81,364
Cash and cash equivalents - end of period 104,183 163,723 76,974
Supplemental disclosure of cash flow information      
Income taxes paid 56,758 24,636 17,314
Dividends declared included in accounts payable $ 17,186 $ 13,831 $ 13,719