Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

v3.24.1.u1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net income $ 42,300 $ 46,202
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,070 13,834
Non-cash lease expense 18,603 16,749
Provision for uncollectible accounts receivable 1,033 (90)
Deferred income taxes 1,232 (85)
Stock-based compensation 5,644 5,808
Other, net 4,198 (287)
Changes in operating assets and liabilities:    
Accounts receivable 50,409 82,927
Inventories 131,721 71,503
Prepaid expenses and other current assets (511) 23,101
Prepaid expenses and other current assets 511 (23,101)
Other assets 2,055 837
Accounts payable (77,004) (95,423)
Accrued liabilities (49,050) (59,538)
Income taxes payable (8,128) (10,941)
Operating lease assets and liabilities 18,410 17,355
Other liabilities 117 1,860
Net cash provided by operating activities 106,773 78,002
Cash flows from investing activities:    
Purchases of short-term investments (58,974) (98,203)
Sales and maturities of short-term investments 110,878 570
Capital expenditures 14,795 14,047
Net cash provided by (used in) investing activities 37,109 (111,680)
Cash flows from financing activities:    
Proceeds from issuance of common stock related to stock-based compensation 1,106 2,678
Tax payments related to stock-based compensation (4,354) (4,297)
Repurchase of common stock (50,168) (15,293)
Cash dividends paid 17,927 18,649
Net cash used in financing activities (71,343) (35,561)
Net effect of exchange rate changes on cash (4,396) 47
Net increase (decrease) in cash and cash equivalents 68,143 (69,192)
Cash and cash equivalents, beginning of period 418,462 350,319
Cash and cash equivalents, end of period 418,462 361,049
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 29,070 30,775
Supplemental disclosures of non-cash investing and financing activities:    
Property, plant and equipment acquired through increase in liabilities $ 3,492 $ 2,899