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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 41,781 $ 41,063
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 2,444 1,124
Non-cash lease expense 1,619 889
Share-based compensation 2,275 2,198
Amortization of premium on investment securities 11 28
Change in operating assets and liabilities:    
Inventories (8,929) (8,842)
Income taxes, prepaid 945 0
Prepaid expenses and other current assets 3,107 (266)
Other assets (6,632) (70)
Accounts payable and accrued expenses 7,052 29,202
Net cash flow provided by operating activities 43,673 65,326
Investing Activities    
Sale and maturities of investment securities 1,245 3,720
Purchase of property and equipment (3,009) (4,598)
Net cash flow used in investing activities (1,764) (878)
Financing Activities    
Options exercised by executives and directors 0 481
Net shares repurchased for taxes (1,459) (1,807)
Cash dividends paid to stockholders (16,660) (13,392)
Stock repurchases (10,000) (7,500)
Net cash flow used in financing activities (28,119) (22,218)
Foreign currency impact 30 78
Increase in cash and cash equivalents 13,820 42,308
Cash and cash equivalents - beginning of the period 104,183 163,723
Cash and cash equivalents - end of period 118,003 206,031
Supplemental disclosure of cash flow information:    
Income taxes paid 62 56
Dividends declared included in accounts payable $ 19,663 $ 17,292