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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 163 $ 70,248
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 6,328 6,342
Non-cash lease expense 2,225 2,514
Share-based compensation 4,625 3,120
Loss on sale or disposal of property, plant and equipment 51 619
Realized gain on sale of investment securities (74) 0
Amortization of discount on investment securities (372) 0
Deferred income taxes 9 800
Unrealized loss on equity investment securities 1,752 0
Non-cash charges for supply chain optimization 11,689 0
Change in operating assets and liabilities:    
Inventories 14,988 49,960
Prepaid expenses and other current assets (1,809) 3,721
Other assets 206 (2,142)
Accounts payable and accrued expenses (19,430) (31,851)
Income taxes payable (1) 3,874
Net cash flow provided by operating activities 20,351 107,205
Investing Activities    
Purchase of investment securities (17,646) 0
Proceeds from sale and maturities of investment securities 16,118 0
Purchase of property and equipment (3,779) (3,859)
Net cash flow used in investing activities (5,307) (3,859)
Financing Activities    
Options exercised by directors 36 105
Net shares repurchased for employee taxes (833) (3,238)
Cash dividends paid to stockholders (714) (36,996)
Stock repurchases 0 (3,602)
Net cash flow used in financing activities (1,511) (43,731)
Foreign currency impact 43 99
Increase in cash and cash equivalents 13,576 59,714
Cash and cash equivalents - beginning of the period 94,440 87,691
Cash and cash equivalents - end of period 108,016 147,405
Supplemental disclosure of cash flow information:    
Income taxes paid 504 17,520
Dividends included in accounts payable and accrued expenses $ 659 $ 18,987