Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Cash Flows

v3.26.1
Consolidated Statement of Cash Flows
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:    
Net income (loss) $ 60,861 $ 32,052
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 27,505 27,931
Non-cash lease expense 45,384 41,274
Provision for uncollectible accounts receivable 860 1,786
Deferred income taxes 4,255 (340)
Share-based compensation 13,514 11,799
Other, net 2,730 (2,200)
Changes in operating assets and liabilities:    
Accounts receivable 128,016 136,579
Inventories (191,602) (218,102)
Prepaid expenses and other current assets (885) (27,561)
Other assets (4,126) 2,546
Accounts payable 92,146 88,004
Accrued liabilities (86,956) (89,215)
Income taxes payable (5,024) (28,489)
Operating lease assets and liabilities (48,049) (42,432)
Other liabilities (1,172) 3,482
Net cash provided by (used in) operating activities 37,457 (62,886)
Cash flows from investing activities:    
Purchases of short-term investments (84,142) (261,449)
Sales and maturities of short-term investments 347,230 402,067
Capital expenditures (25,813) (30,036)
Net cash provided by investing activities 237,275 110,582
Cash flows from financing activities:    
Payment of line of credit issuance fees 843 0
Proceeds from issuance of common stock related to share-based compensation 2,523 5,111
Tax payments related to share-based compensation (4,414) (5,656)
Repurchase of common stock (150,000) (131,687)
Cash dividends paid (30,966) (33,030)
Net cash used in financing activities (183,700) (165,262)
Net effect of exchange rate changes on cash (755) 13,501
Net increase (decrease) in cash and cash equivalents 90,277 (104,065)
Cash and cash equivalents, beginning of period 532,305  
Cash and cash equivalents, end of period 532,305 427,804
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 39,521 72,590
Supplemental disclosures of non-cash investing and financing activities:    
Property, plant and equipment acquired through increase in liabilities $ 6,012 $ 8,225