XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 155,899 $ 90,398 $ 32,291
Adjustments to reconcile net income to cash provided by operating activities, net of effects of acquisition:      
Depreciation and amortization 26,152 27,576 29,331
Stock-based compensation 8,280 6,128 6,330
Excess and obsolescence inventory reserve 953 1,046
(Gain) loss on sale of assets (127) (52) 54
Deferred income taxes 994 3,863 (2,424)
Changes in operating assets and liabilities:      
Trade receivables 840 (5,236) (7,609)
Inventories (15,726) 10,624 2,073
Trade accounts payable and accrued expenses (392) 7,954 (3,646)
Contract liability with customers (84) (9,539) 2,146
Employee compensation and benefits (5,433) 20,910 (6,646)
Product liability (234) 308 (354)
Prepaid expenses, other assets and other liabilities 1,217 (7,905) (888)
Income taxes receivable/payable (1,223) (2,117)
Cash provided by operating activities 172,339 143,806 49,587
Investing Activities      
Property, plant, and equipment additions (28,776) (24,229) (20,296)
Purchase of Marlin assets (28,316)
Purchases of short-term investments (681,940) (369,439) (282,738)
Proceeds from maturity of short-term investments 602,976 377,920 267,576
Net proceeds from sale of assets 203 178 14
Cash used for investing activities (107,537) (43,886) (35,444)
Financing Activities      
Dividends paid (59,104) (113,896) (14,319)
Repurchase of common stock (1,995)
Payment of employee withholding tax related to share-based compensation (4,801) (1,297) (901)
Cash used for financing activities (63,905) (115,193) (17,215)
Increase (decrease) in cash and cash equivalents 897 (15,273) (3,072)
Cash and cash equivalents at beginning of year 20,147 35,420 38,492
Cash and cash equivalents at end of year $ 21,044 $ 20,147 $ 35,420