XML 25 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities      
Net income $ 15,211 $ 26,255 $ 46,564
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 10,454 10,452 11,150
Amortization of deferred financing costs 95 95 108
Benefit for deferred income taxes (1,822) (10,454) (610)
Change in fair value of equity securities 8,297 904 246
Change in fair value of derivative instruments (343) 609 (390)
Loss (gain) on the sale of investments 248 (834) 4,129
Stock based compensation 46 0 49
Loss on disposal of property and equipment 64 11 31
Impairment of intangible asset 0 1,315 0
Noncash interest expense 33 32 43
Changes in operating assets and liabilities:      
Accounts receivable 3,118 (7,929) 88,865
Accounts receivable – related parties 52 1,368 3,176
Inventory 162 6,969 3,684
Income tax receivable 7,801 7,908 (9,606)
Prepaid expenses (106) 379 (2,035)
Prepaid expenses – related party (8) (4) 12
Other assets 799 732 658
Accounts payable 13,790 2,095 (48,639)
Accounts payable - related parties (112) 6,927 (271)
Accrued expenses and other current liabilities (948) 870 456
Accrued expenses and other current liabilities – related parties 0 1 (64)
Deferred revenue (4,055) (2,931) (691)
Other noncurrent liabilities (325) (686) (462)
Net cash provided by operating activities 52,451 44,084 96,403
Cash flows from investing activities      
Collateralization of derivative instruments (404) (750) 158
Purchase of marketable securities 0 (23,546) (5,073)
Proceeds from the sale of marketable securities 1,292 40,652 9,803
Proceeds from the sale of property and equipment 61 0 50
Proceeds from the sale of intangible assets 0 93 0
Capital expenditures (4,778) (1,456) (4,464)
Net cash (used in) provided by investing activities (3,829) 14,993 474
Cash flows from financing activities      
Loan proceeds 0 0 8,180
Payment on loan 0 0 (8,180)
Minimum tax withholding on stock options exercised 0 (3) 0
Deferred financing costs 0 0 (477)
Proceeds from the issuance of stock 0 231 0
Equipment financing proceeds 0 0 119
Payment of dividends (10,503) (119,906) (141,728)
Net cash used in financing activities (10,503) (119,678) (142,086)
Net change in cash and cash equivalents 38,119 (60,601) (45,209)
Cash and cash equivalents at beginning of period 137,521 198,122 243,331
Cash and cash equivalents at end of period 175,640 137,521 198,122
Cash paid for interest 3 47 2
Cash paid for income taxes 69 83 661
Noncash investing and financing activities:      
Noncash capital expenditures 208 364 0
Noncash operating leases 707 269 442
Dividends payable $ 10,503 $ 0 $ 10,498