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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 71,211 $ 48,545
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,473 6,423
Stock-based compensation 2,226 2,176
Gain on disposal of property, plant and equipment   (98)
Other non-cash adjustments 77 77
Changes in operating assets and liabilities:    
Accounts receivable (49,825) (202,781)
Inventories (14,423) (6,774)
Prepaid expenses and other assets 1,560 (809)
Accounts payable 36,605 10,494
Accrued expenses and other liabilities (6,149) (14,453)
Income taxes receivable/payable 22,124 14,626
Net cash provided by (used in) operating activities 73,879 (142,574)
Investing Activities    
Expenditures for property, plant and equipment (22,288) (58,093)
Proceeds from sales of property, plant and equipment   293
Net cash used in investing activities (22,288) (57,800)
Financing Activities    
Borrowings under line of credit   142,000
Principal payments under line of credit   (6,000)
Repurchases of common stock (77,929) (49,566)
Proceeds from employee stock purchase and option plans 523 460
Financing costs (50)  
Net cash (used in) provided by financing activities (77,456) 86,894
Net decrease in cash and cash equivalents (25,865) (113,480)
Cash and cash equivalents, beginning of period 141,053 121,701
Cash and cash equivalents, end of period 115,188 8,221
Supplemental Disclosure:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for income taxes, net $ 1,604 $ 1,319