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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 56,853 $ 39,839
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,616 6,496
Amortization of intangibles 4,548 2,891
Amortization of premium and discount on investments, net (2,236) (3,597)
Stock-based compensation to employees 9,174 4,415
Deferred income tax benefit (3,936) (5,936)
Retirement plan expense, net of benefit payments 330 782
Decrease (increase) in assets:    
Accounts receivable 20,266 (13)
Inventory 2,890 8,975
Other current assets (2,113) 8,598
Other assets 2,907 5,515
Increase (decrease) in liabilities:    
Accounts payable and accrued expenses (7,977) (24,116)
Other current liabilities 12,786 12,874
Deferred revenue (27,270) (8,616)
Other liabilities (682) (486)
Net cash provided by operating activities 72,156 47,621
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (7,206) (9,098)
Purchases of intangibles 0 (51)
Purchases of investments (99,947) (65,207)
Proceeds from sale and maturity of investments 42,970 115,031
Net cash (used in) provided by investing activities (64,183) 40,675
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 639 518
Payment of withholding taxes related to stock-based compensation to employees (7,058) (7,181)
Cash dividends paid (19,527) (16,769)
Net cash used in financing activities (25,946) (23,432)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (17,973) 64,864
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 91,985 93,430
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 74,012 $ 158,294