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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 64,444 $ 56,853
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,548 6,616
Amortization of intangibles 4,545 4,548
Amortization of premium and discount on investments, net (1,471) (2,236)
Stock-based compensation 7,076 9,174
Deferred income tax benefit (3,091) (3,936)
Retirement plan expense, net of benefit payments 423 330
Decrease (increase) in assets:    
Accounts receivable (25,915) 20,266
Inventory (14,460) 2,890
Other current assets 400 (2,113)
Other assets (2,568) 2,907
Increase (decrease) in liabilities:    
Accounts payable and accrued expenses (13,408) (7,977)
Other current liabilities 16,867 12,786
Deferred revenue (8,491) (27,270)
Other liabilities (337) (682)
Net cash provided by operating activities 30,562 72,156
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (13,059) (7,206)
Purchases of investments (38,772) (99,947)
Proceeds from sale and maturity of investments 110,000 42,970
Net cash provided by (used in) investing activities 58,169 (64,183)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 579 639
Payment of withholding taxes related to stock-based compensation to employees (9,398) (7,058)
Cash dividends paid (21,419) (19,527)
Net cash used in financing activities (30,238) (25,946)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 58,493 (17,973)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 98,980 91,985
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 157,473 $ 74,012