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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 47,430 $ 19,730
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,344 19,095
Non-cash lease expense 13,298 10,869
Stock-based compensation 6,803 3,455
Foreign currency losses 970 3,177
Loss on disposal of assets 506 2,286
Deferred taxes 3,363 963
Changes in operating assets and liabilities:    
Accounts receivable 436 5,081
Inventories, net (53,776) 10,764
Prepaid expenses and other (19,241) 965
Other assets (2,786) (24,905)
Accounts payable 1,869 1,491
Accrued expenses (36,779) 12,889
Other liabilities 707 3,167
Net cash (used in) /provided by operating activities (18,856) 69,027
Cash flows from investing activities:    
Purchases of property and equipment (19,373) (19,387)
Proceeds on investment sales 7,550 4,234
Purchases of investments (6,973) (4,031)
Net cash used in investing activities (18,796) (19,184)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards (477) (1,407)
Payment of cash dividends (19,289) (20,686)
Repurchases of shares of common stock (50,406) (60,886)
Finance lease principal payments (483) 0
Payments of debt (17,500) (5,000)
Proceeds from debt 70,000 65,000
Net cash used in financing activities (18,155) (22,979)
Effect of exchange rate changes on cash (7,777) (9,916)
Net increase (decrease) in cash and cash equivalents (63,584) 16,948
Cash and cash equivalents, beginning of period 402,683 335,630
Cash and cash equivalents, end of period $ 339,099 $ 352,578