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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income $ 67,265 $ 79,930
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,857 9,363
Stock-based compensation 4,918 3,645
Loss (gain) on disposal of property, plant and equipment 10 (29)
Other non-cash adjustments (373) (406)
Changes in operating assets and liabilities:    
Accounts receivable (26,746) (104,250)
Inventories 14,882 (1,664)
Prepaid expenses and other assets 210 (2,616)
Accounts payable (3,777) 14,863
Accrued expenses and other liabilities (16,548) (5,705)
Income taxes receivable/payable (3,640) 5,195
Net cash provided by (used in) operating activities 43,058 (1,674)
Investing Activities    
Expenditures for property, plant and equipment and intangibles (19,061) (17,697)
Proceeds from sales of property, plant and equipment   83
Net cash used in investing activities (19,061) (17,614)
Financing Activities    
Borrowings under line of credit 89,500 167,750
Principal payments under line of credit (89,500) (159,250)
Repurchases of common stock (24,172) (17,230)
Proceeds from employee stock purchase and option plans 560 405
Net cash used in financing activities (23,612) (8,325)
Net increase (decrease) in cash and cash equivalents 385 (27,613)
Cash and cash equivalents, beginning of period 105,699 30,514
Cash and cash equivalents, end of period 106,084 2,901
Supplemental Disclosure:    
Cash paid for interest 321 385
Cash paid for income taxes, net $ 23,371 $ 19,618