XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Cash flows from operating activities      
Net income $ 37,382 $ 15,211 $ 26,255
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 10,348 10,454 10,452
Amortization of deferred financing costs 101 95 95
Benefit for deferred income taxes 0 (1,822) (10,454)
Change in fair value of equity securities (3,117) 8,297 904
Change in fair value of derivative instruments (1,878) (343) 609
Loss (gain) on the sale of investments 2,543 248 (834)
Stock based compensation 0 46 0
Loss on disposal of property, plant, and equipment 29 64 11
Impairment of intangible asset 0 0 1,315
Noncash interest expense 34 33 32
Changes in operating assets and liabilities:      
Accounts receivable (2,208) 3,118 (7,929)
Accounts receivable – related parties 5 52 1,368
Inventory (6,217) 162 6,969
Income tax receivable 19 7,801 7,908
Prepaid expenses (652) (106) 379
Prepaid expenses – related party 0 (8) (4)
Other assets 3,523 799 732
Accounts payable (6,493) 13,790 2,095
Accounts payable - related parties (7,757) (112) 6,927
Accrued expenses and other current liabilities (719) (948) 870
Accrued expenses and other current liabilities – related parties (1) 0 1
Deferred revenue (2,418) (4,055) (2,931)
Other noncurrent liabilities 1,461 (325) (686)
Net cash provided by operating activities 23,985 52,451 44,084
Cash flows from investing activities      
Collateralization of derivative instruments (1,343) (404) (750)
Purchase of marketable securities 0 0 (23,546)
Proceeds from the sale of marketable securities 37,701 1,292 40,652
Proceeds from the sale of property, plant, and equipment 0 61 0
Proceeds from the sale of intangible assets 0 0 93
Capital expenditures (6,022) (4,778) (1,456)
Net cash provided by (used in) investing activities 30,336 (3,829) 14,993
Cash flows from financing activities      
Minimum tax withholding on stock options exercised 0 0 (3)
Deferred financing costs (14) 0 0
Proceeds from the issuance of stock 0 0 231
Payment of dividends (10,503) (10,503) (119,906)
Net cash used in financing activities (10,517) (10,503) (119,678)
Net change in cash and cash equivalents 43,804 38,119 (60,601)
Cash and cash equivalents at beginning of period 175,640 137,521 198,122
Cash and cash equivalents at end of period 219,444 175,640 137,521
Cash paid for interest 0 3 47
Cash paid for income taxes 20 69 83
Noncash investing and financing activities:      
Noncash capital expenditures included in accounts payable 333 208 364
Noncash operating leases 0 707 269
Dividends payable $ 10,503 $ 10,503 $ 0