XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 115,489 $ 32,168
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 7,273 6,751
Provision for doubtful accounts 1,369 3,455
Noncash stock compensation 2,158 1,805
Share of income of equity investment (135)
Impairment loss 2,393
Non-cash lease expense 6,953 4,332
Deferred tax provision (benefit) 739 (1,390)
Change in fair value of derivatives 1,844 (604)
Changes in:    
Accounts receivable (79,112) (3,095)
Inventories (3,727) (5,629)
Other assets (13,460) 533
Operating lease liabilities (6,169) (4,279)
Accounts payable and accrued expenses 41,830 (57,147)
Income taxes, net 23,816 2,946
Net cash provided by (used in) operating activities 101,261 (20,154)
Cash flows from investing activities:    
Purchases of short-term investments (41,406) (7,162)
Proceeds from sale of short-term investments 10,753
Purchase of equity investment (13,998)
Purchases of buildings, equipment and leasehold improvements (131,322) (3,013)
Payment for intangible assets acquired (858) (971)
Net cash used in investing activities (162,833) (25,144)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 158,992 13,438
Repayment of long-term debt (38,232) (12,380)
Proceeds from exercise of options 1,727 796
Dividends paid (23,741) (20,805)
Dividends paid to noncontrolling interest (9,831) (324)
Net cash provided by (used in) financing activities 88,915 (19,275)
Effect of exchange rate changes on cash (7,934) 5,506
Net increase (decrease) in cash and cash equivalents 19,409 (59,067)
Cash and cash equivalents - beginning of period 169,681 192,417
Cash and cash equivalents - end of period 189,090 133,350
Cash paid for:    
Interest 1,582 776
Income taxes $ 21,103 $ 10,330