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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 174,549 $ 183,705
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,269 25,604
Stock-based compensation 3,531 6,195
Gain on disposal of property, plant and equipment (43) (1,057)
Other non-cash adjustments (171) (40)
Changes in operating assets and liabilities:    
Accounts receivable 62,343 (158,813)
Inventories (48,362) (5,399)
Prepaid expenses and other assets 7,125 (4,311)
Accounts payable (3,769) 17,219
Accrued expenses and other liabilities 8,842 28,472
Income taxes receivable/payable 7,079 21,484
Net cash provided by operating activities 244,393 113,059
INVESTING ACTIVITIES    
Expenditures for property, plant and equipment (108,163) (124,451)
Proceeds from sales of property, plant and equipment 45 1,355
Net cash used in investing activities (108,118) (123,096)
FINANCING ACTIVITIES    
Borrowings under line of credit 156,000 416,000
Principal payments under line of credit (80,000) (416,000)
Repurchases of common stock (347,957) (58,945)
Proceeds from employee stock purchase and option plans 1,381 1,323
Financing costs (867)  
Net cash used in financing activities (271,443) (57,622)
Net decrease in cash and cash equivalents (135,168) (67,659)
Cash and cash equivalents, beginning of period 141,053 121,701
Cash and cash equivalents, end of period 5,885 54,042
Supplemental Disclosure:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for income taxes, net $ 50,585 $ 39,750