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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 160,127 $ 109,910
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 21,804 15,702
Stock-based compensation 3,282 4,308
Gain on disposal of property, plant and equipment (43) (1,083)
Other non-cash adjustments (365) (226)
Changes in operating assets and liabilities:    
Accounts receivable (26,988) (157,117)
Inventories (17,119) (8,994)
Prepaid expenses and other assets 949 (6,878)
Accounts payable 32,943 14,907
Accrued expenses and other liabilities 13,175 10,763
Income taxes receivable/payable 2,227 466
Net cash provided by (used in) operating activities 189,992 (18,242)
Investing Activities    
Expenditures for property, plant and equipment (66,606) (94,831)
Proceeds from sales of property, plant and equipment 45 1,314
Net cash used in investing activities (66,561) (93,517)
Financing Activities    
Borrowings under line of credit   286,000
Principal payments under line of credit   (236,500)
Repurchases of common stock (247,921) (54,832)
Proceeds from employee stock purchase and option plans 951 860
Financing costs (866)  
Net cash used in financing activities (247,836) (4,472)
Net decrease in cash and cash equivalents (124,405) (116,231)
Cash and cash equivalents, beginning of period 141,053 121,701
Cash and cash equivalents, end of period 16,648 5,470
Supplemental Disclosure:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for income taxes, net $ 48,915 $ 36,457