XML 20 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income $ 32,291 $ 50,933 $ 52,142
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 29,331 31,972 34,264
Stock-based compensation 6,330 5,809 3,659
Excess and obsolescence inventory reserve 1,046 (185) 358
Loss (gain) on sale of assets 54 (10) 31
Deferred income taxes (2,424) (4,371) 1,736
Changes in operating assets and liabilities:      
Trade receivables (7,609) 15,051 9,360
Inventories 2,073 8,479 14,463
Trade accounts payable and accrued expenses (3,646) 939 (16,060)
Contract liability to customers 2,146 5,250
Employee compensation and benefits (6,646) 6,009 (11,466)
Product liability (354) 353 (1,000)
Prepaid expenses, other assets and other liabilities (888) (3,757) 13,704
Income taxes payable (2,117) 3,340
Cash provided by operating activities 49,587 119,812 101,191
Investing Activities      
Property, plant, and equipment additions (20,296) (10,541) (33,596)
Purchases of short-term investments (282,738) (114,259)
Proceeds from maturity of short-term investments 267,576
Net proceeds from sale of assets 14 10 3
Cash used for investing activities (35,444) (124,790) (33,593)
Financing Activities      
Dividends paid (14,319) (19,201) (23,905)
Repurchase of common stock (1,995) (64,850)
Payment of employee withholding tax related to share-based compensation (901) (816) (2,482)
Cash used for financing activities (17,215) (20,017) (91,237)
Decrease in cash and cash equivalents (3,072) (24,995) (23,639)
Cash and cash equivalents at beginning of year 38,492 63,487 87,126
Cash and cash equivalents at end of year $ 35,420 $ 38,492 $ 63,487