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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 143,568 $ 164,031 $ 102,859
Adjustments to reconcile net income to cash provided by operating activities      
Depreciation and amortization 10,980 6,812 4,316
Non-cash lease expense 6,098 5,069 3,189
Share-based compensation 11,053 9,903 6,796
Loss on sale or disposal of property, plant and equipment 2,130 2 212
Amortization of premium on investment securities 14 89 320
Deferred income taxes (924) (3,715) 601
Change in operating assets and liabilities:      
Inventories 61,187 (126,651) (4,621)
Income taxes 1,373 (945) 5,169
Prepaid expenses and other current assets 97 (9,887) 1,086
Other assets (3,412) (4,543) (2,741)
Accounts payable and accrued expenses (37,594) 54,380 28,010
Net cash flow provided by operating activities 194,570 94,545 145,196
Investing Activities      
Sale and maturities of investment securities 5,267 5,145 4,605
Purchase of property and equipment (16,681) (34,209) (5,887)
Net cash flow used in investing activities (11,414) (29,064) (1,282)
Financing Activities      
Options exercised by executives and directors 0 811 1,597
Net shares repurchased for taxes (1,516) (6,089) (551)
Cash dividends paid to stockholders (71,620) (63,856) (53,190)
Stock repurchases (126,445) (55,999) (5,000)
Net cash flow used in financing activities (199,581) (125,133) (57,144)
Foreign currency impact (67) 112 (21)
(Decrease) Increase in cash and cash equivalents (16,492) (59,540) 86,749
Cash and cash equivalents - beginning of the period 104,183 163,723 76,974
Cash and cash equivalents - end of period 87,691 104,183 163,723
Supplemental disclosure of cash flow information      
Income taxes paid 37,212 56,758 24,636
Dividends declared included in accounts payable $ 19,641 $ 17,186 $ 13,831