XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 48,215 $ 88,332 $ 155,899
Adjustments to reconcile net income to cash provided by operating activities, net of effects of acquisition:      
Depreciation and amortization 22,383 25,789 26,152
Stock-based compensation 3,989 1,671 8,280
Excess and obsolescence inventory reserve 1,308 501 953
Gain on sale of assets (5) (36) (127)
Deferred income taxes (5,867) (5,573) 994
Changes in operating assets and liabilities:      
Trade receivables 5,585 (8,413) 840
Inventories (16,125) (21,644) (15,726)
Trade accounts payable and accrued expenses (4,406) (640) (392)
Contract liability with customers (882) 1,031 (84)
Employee compensation and benefits (6,469) (3,420) (5,433)
Product liability 372 (584) (234)
Prepaid expenses, other assets and other liabilities (13,026) (954) 1,217
Income taxes receivable/payable (1,171) 1,171
Cash provided by operating activities 33,901 77,231 172,339
Investing Activities      
Property, plant and equipment additions (15,796) (27,730) (28,776)
Purchases of short-term investments (192,627) (365,480) (681,940)
Proceeds from maturity of short-term investments 249,274 406,319 602,976
Net proceeds from sale of assets 5 100 203
Cash provided by (used for) investing activities 40,856 13,209 (107,537)
Financing Activities      
Dividends paid (110,789) (42,718) (59,104)
Repurchase of common stock (11,811) (222)
Payment of employee withholding tax related to share-based compensation (2,156) (3,371) (4,801)
Cash used for financing activities (124,756) (46,311) (63,905)
(Decrease) increase in cash and cash equivalents (49,999) 44,129 897
Cash and cash equivalents at beginning of year 65,173 21,044 20,147
Cash and cash equivalents at end of year $ 15,174 $ 65,173 $ 21,044