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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 276,617,836 $ 204,224,370
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 75,105,881 78,489,026
(Gain) on disposal of assets (459,528) (281,542)
Loss on disposal of assets 213,430 146,195
(Gain) on sale of investments (969,971) (1,504,757)
Loss on sale of investments 192,346 143,370
Change in deferred income taxes (20,269,706) (9,559,993)
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 20,114,921 23,266,906
Change in operating assets and liabilities:    
Accounts receivable, net 43,704,625 (32,832,997)
Inventories (66,308,038) 15,659,539
Prepaid expenses and other (45,504,501) 8,934,297
Accounts payable 15,748,219 (7,389,582)
Accrued liabilities, excluding dividends declared and short-term debt 1,195,477 49,749,418
Net cash provided by operating activities 299,380,991 329,044,250
Activity in available-for-sale securities:    
Sales proceeds 34,250,068 15,559,590
Maturities and calls 26,110,000 117,172,368
Purchases (86,228,584) (59,933,780)
Plant and equipment additions (44,357,786) (37,048,073)
Proceeds from sale of plant and equipment 2,550,805 331,465
Acquisition of businesses, net of cash acquired (12,023,440) (8,043,217)
Increase in other assets (2,763,847) (3,326,783)
Net cash (used for) provided by investing activities (82,462,784) 24,711,570
CASH FLOWS (USED FOR) FINANCING ACTIVITIES:    
Proceeds from borrowings on Credit Agreement 0 75,000,000
Repayment of borrowings on Credit Agreement 0 (50,000,000)
Issuance of common stock from stock plan transactions 20,773,874 23,677,181
Cash dividends paid (86,902,257) (87,774,635)
Repurchases of common stock (304,195,755) (210,480,446)
Net cash (used for) financing activities (370,324,138) (249,577,900)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (153,405,931) 104,177,920
CASH AND CASH EQUIVALENTS, beginning of period 423,371,036 296,321,622
CASH AND CASH EQUIVALENTS, end of period $ 269,965,105 $ 400,499,542