Statements of Cash Flow - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2020 |
Jun. 30, 2019 |
| Operating Activities: |
|
|
| Net income |
$ 30,955
|
$ 31,193
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
9,321
|
8,785
|
| Deferred income taxes |
3,327
|
816
|
| Stock-based compensation attributable to equity awards |
1,091
|
1,262
|
| Other |
520
|
(111)
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
30,331
|
(20,615)
|
| Inventories |
1,804
|
6,328
|
| Other assets |
(1,652)
|
(200)
|
| Trade accounts payable and accrued liabilities |
(21,514)
|
2,266
|
| Current income taxes receivable / payable |
6,101
|
(1,873)
|
| Net cash provided by operating activities |
60,284
|
27,851
|
| Investing Activities: |
|
|
| Purchases of property, plant and equipment |
(21,921)
|
(21,210)
|
| Proceeds from sale of assets |
90
|
22
|
| Net cash used in investing activities |
(21,831)
|
(21,188)
|
| Financing Activities: |
|
|
| Purchase of treasury stock |
(20,662)
|
0
|
| Proceeds from issuance of common stock, net |
2,455
|
568
|
| Dividends paid |
(828)
|
(836)
|
| Net cash used in financing activities |
(19,035)
|
(268)
|
| Net increase in cash and cash equivalents |
19,418
|
6,395
|
| Cash and cash equivalents at beginning of period |
230,965
|
178,405
|
| Cash and cash equivalents at end of period |
$ 250,383
|
$ 184,800
|