XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income including noncontrolling interests $ 27,558 $ 22,671
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Amortization of identifiable intangible assets 4,190 3,724
Depreciation expense 8,968 7,740
Bad debt expense (297) 894
Deferred tax benefit (162) (2,263)
Amortization of debt financing costs 179 158
Gain on sale of assets (357) (327)
Changes in the fair value of contingent earn-out obligations 336 (125)
Stock-based compensation expense 3,349 3,178
(Increase) decrease in-    
Receivables, net (6,684) (17,991)
Inventories (532) (1,440)
Prepaid expenses and other current assets (1,649) 1,806
Costs and estimated earnings in excess of billings (1,239) (5,860)
Other noncurrent assets (84) (215)
Increase (decrease) in-    
Accounts payable and accrued liabilities 6,429 25,958
Billings in excess of costs and estimated earnings (4,220) 12,833
Other long-term liabilities 636 (81)
Net cash provided by operating activities 36,421 50,660
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (10,904) (9,308)
Proceeds from sales of property and equipment 494 485
Cash paid for acquisitions, net of cash acquired (58,490) (5,861)
Net cash used in investing activities (68,900) (14,684)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving line of credit 138,000 14,500
Payments on revolving line of credit (112,000) (35,000)
Payments on other debt 42  
Payments on capital lease obligations (133) (163)
Debt financing costs (789)  
Payments of dividends to shareholders (5,044) (4,479)
Share repurchase program (4,924) (1,525)
Shares received in lieu of tax withholding (1,304) (937)
Excess tax benefit of stock-based compensation, financing activities   461
Proceeds from exercise of options 733 2,277
Distributions to noncontrolling interests   (2,115)
Payments for contingent consideration arrangements (200) (345)
Net cash provided by (used in) financing activities 14,297 (27,326)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (18,182) 8,650
CASH AND CASH EQUIVALENTS, beginning of period 56,464 32,064
CASH AND CASH EQUIVALENTS, end of period $ 38,282 $ 40,714