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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 316,820,194 $ 311,459,076
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,887,294 71,001,177
(Gain) on disposal of assets (1,279,049) (271,510)
Loss on disposal of assets 48,618 250,435
(Gain) on sale of investments and technology investment income (4,736,312) (2,747,586)
Loss on sale of investments and technology investment losses 14,839,974 6,840,692
Deferred tax expense (9,970,207) (11,870,944)
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 30,936,895 29,212,236
Change in operating assets and liabilities:    
Accounts receivable, net (34,528,140) (74,648,395)
Inventories (46,837,992) 8,907,490
Prepaid expenses and other (2,616,370) (5,416,624)
Accounts payable (8,976,998) 27,451,773
Accrued liabilities, excluding dividends declared 19,229,845 7,500,486
Net cash provided by operating activities 343,817,752 367,668,306
Activity in investments:    
Sales proceeds 35,059,971 32,839,883
Maturities and calls 10,260,000 14,435,000
Purchases (83,764,695) (112,608,739)
Plant and equipment additions (102,966,564) (121,393,801)
Proceeds from sale of plant and equipment 142,400 185,610
Increase in other assets (5,614,129) (2,533,687)
Net cash used for investing activities (146,883,017) (189,075,734)
CASH FLOWS USED FOR FINANCING ACTIVITIES:    
Issuance of common stock from stock plan transactions 24,024,353 24,304,861
Cash dividends paid (83,145,216) (84,159,105)
Repurchases of common stock (184,609,148) (76,859,341)
Net cash used for financing activities (243,730,011) (136,713,585)
NET INCREASE IN CASH AND CASH EQUIVALENTS (46,795,276) 41,878,987
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, beginning of period 226,435,019 218,754,638
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, end of period 179,639,743 260,633,625
Non-cash investing and financing activities:    
Change in property and equipment in accounts payable and accrued expenses and other current liabilities $ (4,115,011) $ 9,708,125