| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | |||||||||||
Net income | |||||||||||
32,291 | 50,933 | 52,142 | 87,472 | 62,126 | 38,628 | 111,272 | 70,629 | 40,015 | 28,255 | 27,503 | 8,666 |
Adjustments to reconcile net income to cash provided by operating activities: | |||||||||||
Pension plan settlement charge | |||||||||||
- | - | - | - | - | 32,218 | 0 | 0 | - | - | - | - |
Depreciation and amortization | |||||||||||
29,331 | 31,972 | 34,264 | 35,355 | 36,235 | 36,706 | 20,362 | 14,888 | 12,148 | 9,207 | 7,300 | 5,365 |
Stock-based compensation | |||||||||||
6,330 | 5,809 | 3,659 | 3,054 | 4,530 | 5,647 | 5,288 | 4,718 | 2,953 | 2,589 | 4,205 | 467 |
Excess and obsolescence inventory reserve | |||||||||||
1,046 | -185 | 358 | 522 | -1,468 | 1,347 | 693 | 761 | -234 | -1,057 | 239 | 495 |
Loss (gain) on sale of assets | |||||||||||
-54 | 10 | -31 | -59 | 113 | 1 | -1 | 944 | 26 | -22 | 45 | 95 |
Deferred income taxes | |||||||||||
-2,424 | -4,371 | 1,736 | 1,836 | -3,257 | -12,015 | 5,736 | -1,480 | 8,205 | 493 | 2,060 | -4,639 |
Impairment of assets | |||||||||||
- | - | - | - | - | 178 | 911 | 1,134 | 0 | 0 | - | - |
Changes in operating assets and liabilities: | |||||||||||
Trade receivables | |||||||||||
7,609 | -15,051 | -9,360 | -2,279 | 21,986 | -17,649 | 24,366 | 793 | 10,660 | 6,516 | -760 | 10,173 |
Inventories | |||||||||||
-2,073 | -8,479 | -14,463 | 17,958 | -9,058 | 22,775 | 7,945 | 6,553 | 156 | -888 | -2,042 | -863 |
Trade accounts payable and accrued expenses | |||||||||||
-3,646 | 939 | -16,060 | 5,602 | 6,808 | -11,047 | 9,231 | 9,908 | 11,807 | 3,932 | 2,150 | 1,533 |
Contract liability to customers | |||||||||||
2,146 | 5,250 | - | - | - | - | - | - | - | - | - | - |
Employee compensation and benefits | |||||||||||
-6,646 | 6,009 | -11,466 | -3,186 | 9,378 | -17,435 | 17,897 | -4,345 | 3,959 | -1,967 | 4,896 | 3,134 |
Product liability | |||||||||||
-354 | 353 | -1,000 | 1,075 | -101 | -391 | 179 | -689 | 724 | -1,060 | 339 | -189 |
Prepaid expenses, other assets and other liabilities | |||||||||||
888 | 3,757 | -13,704 | 6,348 | -6,553 | 13,075 | 19,340 | 321 | 10,961 | 1,333 | 2,132 | -1,995 |
Income taxes payable | |||||||||||
-2,117 | 3,340 | - | -4,962 | 4,806 | -83 | -250 | 272 | -365 | -962 | -2,628 | 3,760 |
Cash provided by (used for) operating activities | |||||||||||
49,587 | 119,812 | 101,191 | 104,800 | 112,569 | 55,551 | 119,669 | 87,185 | 57,409 | 32,491 | 46,689 | 11,182 |
Investing Activities | |||||||||||
Property, plant and equipment additions | |||||||||||
20,296 | 10,541 | 33,596 | 35,215 | 28,705 | 45,571 | 54,616 | 27,282 | 22,135 | 19,409 | 13,819 | 9,488 |
Purchases of short-term investments | |||||||||||
282,738 | 114,259 | - | - | - | - | - | 59,966 | 122,978 | 164,966 | 77,281 | 45,363 |
Proceeds from maturities of short-term investments | |||||||||||
267,576 | - | - | - | - | - | - | 59,966 | 175,471 | 163,214 | 45,098 | 57,309 |
Net proceeds from sale of assets | |||||||||||
14 | 10 | 3 | 325 | 222 | 24 | 233 | 1,003 | 319 | 21 | 51 | 95 |
Cash (used for) provided by investing activities | |||||||||||
-35,444 | -124,790 | -33,593 | -34,890 | -28,483 | -45,547 | -54,383 | -26,279 | 30,677 | -21,140 | -45,951 | 2,553 |
Financing Activities | |||||||||||
Proceeds from exercise of stock options | |||||||||||
- | - | - | - | 211 | 23 | 0 | 148 | 0 | 0 | - | - |
Tax benefit from share-based compensation | |||||||||||
- | - | - | 8,825 | 436 | 1,621 | 2,302 | 3,474 | 3,855 | 1,923 | 1,442 | - |
Repurchase of common stock | |||||||||||
1,995 | - | 64,850 | 14,018 | 2,841 | 24,002 | 0 | 0 | 1,999 | 5,718 | 14 | 10,153 |
Remittance of taxes withheld from employees related to share-based compensation | |||||||||||
901 | 816 | 2,482 | 14,001 | 999 | 2,363 | 2,423 | 3,083 | 5,859 | 1,115 | 30 | - |
Dividends paid | |||||||||||
14,319 | 19,201 | 23,905 | 32,815 | 20,569 | 31,446 | 41,079 | 111,523 | 8,159 | 6,317 | 5,816 | - |
Repayment of line of credit | |||||||||||
- | - | - | - | - | - | - | - | - | - | -1,000 | 1,000 |
Cash used for financing activities | |||||||||||
-17,215 | -20,017 | -91,237 | -52,009 | -23,762 | -56,167 | -41,200 | -110,984 | -12,162 | -11,227 | -5,418 | -9,153 |
Decrease in cash and cash equivalents | |||||||||||
-3,072 | -24,995 | -23,639 | 17,901 | 60,324 | -46,163 | 24,086 | -50,078 | 75,924 | 124 | -4,680 | 4,582 |