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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 117,050 $ 130,008
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 8,026 3,767
Non-cash lease expense 4,740 3,508
Share-based compensation 8,103 6,613
Amortization of premium on investment securities 14 70
Deferred income taxes (1,746) 0
Change in operating assets and liabilities:    
Inventories 34,764 (76,222)
Income taxes, prepaid 795 0
Prepaid expenses and other current assets 1,889 (5,094)
Other assets (8,545) (3,393)
Accounts payable and accrued expenses (22,259) 42,747
Net cash flow provided by operating activities 142,831 102,004
Investing Activities    
Sale and maturities of investment securities 5,267 5,145
Purchase of property and equipment (7,617) (22,585)
Net cash flow used in investing activities (2,350) (17,440)
Financing Activities    
Options exercised by executives and directors 0 811
Net shares repurchased for taxes (1,504) (1,867)
Cash dividends paid to stockholders (53,698) (46,845)
Stock repurchases (120,048) (46,000)
Net cash flow used in financing activities (175,250) (93,901)
Foreign currency impact 296 130
Decrease in cash and cash equivalents (34,473) (9,207)
Cash and cash equivalents - beginning of the period 104,183 163,723
Cash and cash equivalents - end of period 69,710 154,516
Supplemental disclosure of cash flow information:    
Income taxes paid 33,906 41,302
Dividends declared included in accounts payable $ 19,395 $ 17,351