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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income $ 130,008 $ 74,865
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 7,275 5,259
Share-based compensation 6,613 4,243
Loss on sale of disposal of property, plant and equipment   28
Amortization of premium on investment securities 70 263
Deferred income taxes   (735)
Change in operating assets and liabilities:    
Inventories (76,222) 7,035
Income taxes, prepaid   5,169
Prepaid expenses and other current assets (5,094) 1,728
Other assets (3,393) (2,566)
Accounts payable and accrued expenses 42,747 30,078
Net cash flow provided by operating activities 102,004 125,367
Investing Activities    
Sale and maturities of investment securities 5,145 2,000
Purchase of property and equipment (22,585) (3,852)
Net cash flow (used in) provided by investing activities (17,440) (1,852)
Financing Activities    
Options exercised by executives and directors 811 1,424
Net shares repurchased for employee taxes (1,867) (532)
Cash dividends paid to stockholders (46,845) (39,892)
Stock repurchases (46,000) (5,000)
Net cash flow used in financing activities (93,901) (44,000)
Foreign currency impact 130 (3)
Increase in cash and cash equivalents (9,207) 79,512
Cash and cash equivalents - beginning of the period 163,723 76,974
Cash and cash equivalents - end of the period 154,516 156,486
Supplemental disclosure of cash flow information:    
Income taxes paid (received) 41,302 14,135
Dividends declared included in accounts payable $ 17,351 $ 13,715