XML 17 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income $ 37,371 $ 15,427
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,621 3,311
Share-based compensation 1,373 3,229
Gain on equity method investment (394) 0
Deferred income taxes, including change in valuation allowance 347 (648)
Other, net 24 0
Changes in operating assets and liabilities:    
Receivables, net (9,601) (4,348)
Inventory (13,696) 4,924
Prepaid expenses 657 (1,084)
Income taxes payable 5,437 5,237
Accounts payable 4,638 509
Accrued expenses and other (8,896) (8,278)
Federal and state excise taxes payable (515) (107)
Other, net (136) (1,182)
Net cash provided by operating activities 22,230 16,990
Cash Flows from Investing Activities    
Additions to property, plant, and equipment (10,642) (12,059)
Contributions to equity method investment (1,028) 0
Other, net (363) (1,281)
Net cash used in investing activities (12,033) (13,340)
Cash Flows from Financing Activities    
Payment of dividends and dividend equivalents (2,661) (2,052)
Purchase of treasury stock (714) (674)
Principal payments on long-term debt (807) 0
Net cash used in financing activities (4,182) (2,726)
Effect of exchange rate changes on cash (288) 0
Increase in cash and cash equivalents 5,727 924
Cash and cash equivalents, beginning of period 21,568 21,662
Cash and cash equivalents, end of period $ 27,295 $ 22,586