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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net income $ 109,401 $ 76,829
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,164 12,065
Stock-based compensation 5,045 3,913
Loss on disposal of property, plant and equipment 50 1,720
Other non-cash adjustments (408) (405)
Changes in operating assets and liabilities:    
Accounts receivable (21,034) (14,407)
Inventories (927) 4,860
Prepaid expenses and other assets (3,155) 1,799
Accounts payable 8,245 1,203
Accrued expenses and other liabilities 619 (2,438)
Income taxes receivable/payable 4,369 7,698
Net cash provided by operating activities 115,369 92,837
Investing Activities    
Expenditures for property, plant and equipment and intangibles (21,611) (11,108)
Proceeds from sales of property, plant and equipment 83  
Acquisition of business   (71,523)
Net cash used in investing activities (21,528) (82,631)
Financing Activities    
Borrowings under line of credit 172,250 201,000
Principal payments under line of credit (172,250) (201,000)
Repurchases of common stock (17,723) (3,617)
Proceeds from employee stock purchase and option plans 681 288
Net cash used in financing activities (17,042) (3,329)
Net increase in cash and cash equivalents 76,799 6,877
Cash and cash equivalents, beginning of period 30,514 18,664
Cash and cash equivalents, end of period 107,313 25,541
Supplemental Disclosure:    
Cash paid for interest 662 416
Cash paid for income taxes, net $ 39,170 $ 32,016