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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES:    
Net income $ 24,226 $ 32,901
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,143 29,724
Deferred income tax provision 1,953 3,544
Share-based compensation 3,620 6,291
Amortization of debt issuance costs and expenses associated with debt refinancing 1,890 1,724
Non-cash lease expense 1,260 (17)
Loss (gain) on disposal of property and equipment (23) 712
Change in fair value of contingent consideration and others 4,699 (765)
Changes in assets and liabilities:    
Accounts receivable 10,041 (3,116)
Inventories (25,423) (11,561)
Prepaid expenses and other current assets (2,164) (5,046)
Other non-current assets (6,009) 2,283
Accounts payable, accrued expenses and other current liabilities (4,984) (9,754)
Other non-current liabilities (14,073) (2,576)
Net cash provided by operating activities 26,156 44,344
INVESTING ACTIVITIES:    
Purchases of property and equipment (13,704) (9,325)
Acquired in-process research and development milestone 0 (4,742)
Net cash used in investing activities (13,704) (14,067)
FINANCING ACTIVITIES:    
Proceeds from borrowings of long-term indebtedness 10,200 11,250
Payments on debt (12,400) (11,750)
Payment of debt issuance costs (7,578) 0
Purchases of treasury stock (150,000) (125,000)
Proceeds from exercised stock options 2,326 1,239
Cash taxes paid in net equity settlement (5,231) (9,204)
Net cash used in financing activities (162,683) (133,465)
Effect of exchange rate changes on cash and cash equivalents 937 (3,168)
Net decrease in cash and cash equivalents (149,294) (106,356)
Cash and cash equivalents at beginning of period 456,661 513,448
Cash and cash equivalents at end of period $ 307,367 $ 407,092