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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 151,037 $ 110,027 $ 49,968
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization including impairment loss 22,539 12,698 9,067
Provision for doubtful accounts 2,353 853 4,824
Noncash stock compensation 3,143 2,853 3,029
Share of income of equity investment 49 (53) (549)
Lease expense 4,980 7,302 5,483
Deferred tax expense (benefit) (3,604) (465) 581
Change in fair value of derivatives 227 65 (137)
Changes in:      
Accounts receivable (59,640) (45,395) 13,157
Inventories (98,297) (49,815) 19,333
Other assets (13,651) (16,725) 1,176
Operating lease liabilities (4,795) (7,503) (5,421)
Accounts payable and accrued expenses 106,857 103,046 (32,239)
Income taxes, net 3,952 2,698 (3,279)
Net cash provided by operating activities 115,150 119,586 64,993
Cash flows from investing activities:      
Purchases of short-term investments (1,038) (55,691) (7,582)
Proceeds from sale of short-term investments 896 10,644 11,513
Purchase of property, equipment and leasehold improvements (33,756) (141,274) (11,011)
Payment for intangible assets acquired (98,865) (1,545) (1,251)
Purchase of equity investment (13,998)
Net cash used in investing activities (132,763) (187,866) (22,329)
Cash flows from financing activities:      
Repayment of long-term debt (19,861) (43,056) (13,725)
Proceeds from issuance of long-term debt 52,492 157,382 13,438
Proceeds from exercise of options 6,003 5,393 2,771
Dividends paid (63,743) (31,690) (20,805)
Dividends paid to noncontrolling interests (16,056) (9,836) (324)
Purchase of subsidiary shares from noncontrolling interests (4,403)
Net cash provided by (used in) financing activities (45,568) 78,193 (18,645)
Effect of exchange rate changes on cash (493) (11,207) 12,245
Net increase (decrease) in cash and cash equivalents (63,674) (1,294) 36,264
Cash and cash equivalents – beginning of year 168,387 169,681 133,417
Cash and cash equivalents – end of year 104,713 168,387 169,681
Cash paid for:      
Interest 2,987 2,468 1,105
Income taxes $ 38,492 $ 40,497 $ 21,772