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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 39,968 $ 41,781
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 2,974 2,444
Non-cash lease expense 1,369 1,619
Share-based compensation 606 2,275
Amortization of premium on investment securities 0 11
Deferred income taxes 800 0
Change in operating assets and liabilities:    
Inventories 21,960 (8,929)
Prepaid expenses and other current assets 6,563 3,107
Other assets (887) (6,632)
Accounts payable and accrued expenses (21,897) (6,084)
Income taxes payable 12,603 14,081
Net cash flow provided by operating activities 64,059 43,673
Investing Activities    
Sale and maturities of investment securities 0 1,245
Purchase of property and equipment (2,115) (3,009)
Net cash flow used in investing activities (2,115) (1,764)
Financing Activities    
Options exercised by directors 105 0
Net shares repurchased for taxes (3,236) (1,459)
Cash dividends paid to stockholders (19,163) (16,660)
Stock repurchases (3,602) (10,000)
Net cash flow used in financing activities (25,896) (28,119)
Foreign currency impact 9 30
Increase in cash and cash equivalents 36,057 13,820
Cash and cash equivalents - beginning of the period 87,691 104,183
Cash and cash equivalents - end of period 123,748 118,003
Supplemental disclosure of cash flow information:    
Income taxes (refunded) paid (46) 62
Dividends declared included in accounts payable $ 18,653 $ 19,663