Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Cash flows provided by operating activities |
|
|
| Net income |
$ 37,661
|
$ 16,774
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
7,960
|
7,476
|
| Amortization of deferred financing costs |
108
|
72
|
| Benefit for deferred income taxes |
(9,243)
|
(6,569)
|
| Change in fair value of derivative instruments |
6,686
|
1,755
|
| Other than temporary impairment of marketable securities |
2,184
|
606
|
| Impairment of fixed assets |
178
|
|
| Gain on the sale of investments |
(1,457)
|
(1,808)
|
| Stock based compensation |
1,431
|
1,431
|
| Losses on disposals of fixed assets |
147
|
168
|
| Noncash interest expense |
20
|
20
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
16,333
|
30,367
|
| Accounts receivable – related parties |
(21)
|
1,141
|
| Inventory |
17,009
|
10,981
|
| Income tax receivable |
(1,185)
|
10,435
|
| Prepaid expenses |
1,104
|
1,279
|
| Prepaid expenses - related party |
35
|
(35)
|
| Accrued interest on marketable securities |
(84)
|
13
|
| Other assets |
(413)
|
(310)
|
| Accounts payable |
(9,853)
|
(11,697)
|
| Accounts payable - related parties |
219
|
(2,910)
|
| Accrued expenses and other current liabilities |
3,565
|
1,855
|
| Accrued expenses and other current liabilities - related parties |
|
321
|
| Deferred revenue |
2,735
|
988
|
| Other noncurrent liabilities |
1,760
|
(2,431)
|
| Net cash provided by operating activities |
76,879
|
59,922
|
| Cash flows from investing activities |
|
|
| Collateralization of derivative instruments |
(4,009)
|
(3,832)
|
| Purchase of marketable securities |
(54,096)
|
(32,952)
|
| Proceeds from the sale of marketable securities |
20,768
|
45,849
|
| Expenditures for intangible assets |
|
(1,408)
|
| Capital expenditures |
(3,107)
|
(6,029)
|
| Net cash used in investing activities |
(40,444)
|
1,628
|
| Cash flows from financing activities |
|
|
| Minimum tax withholding on stock options exercised and awards vested |
(59)
|
(120)
|
| Excess tax benefits associated with stock options and awards |
(183)
|
(371)
|
| Deferred financing costs |
|
(721)
|
| Payment of dividends |
(7,869)
|
(7,870)
|
| Net cash used in financing activities |
(8,111)
|
(9,082)
|
| Net change in cash and cash equivalents |
28,324
|
52,468
|
| Cash and cash equivalents at beginning of period |
154,049
|
124,079
|
| Cash and cash equivalents at end of period |
182,373
|
176,547
|
| Cash paid for interest |
2
|
|
| Cash paid for income taxes |
$ 986
|
$ 13,377
|