XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 47,733 $ 48,029
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization of identifiable intangible assets 12,622 6,227
Depreciation expense 14,714 13,444
Goodwill impairment 1,105  
Bad debt expense (benefit) 29 (177)
Deferred tax expense (benefit) (112) (606)
Amortization of debt financing costs 282 273
Gain on sale of assets (464) (523)
Changes in the fair value of contingent earn-out obligations (1,845) (468)
Stock-based compensation 4,317 3,868
(Increase) decrease in-    
Receivables, net (38,051) (4,301)
Inventories (1,059) (298)
Prepaid expenses and other current assets (608) (3,648)
Costs and estimated earnings in excess of billings (7,348) (3,726)
Other noncurrent assets 913 (128)
Increase (decrease) in-    
Accounts payable and accrued liabilities 22,595 1,628
Billings in excess of costs and estimated earnings 10,309 (10,928)
Other long-term liabilities 560 1,088
Net cash provided by operating activities 65,692 49,754
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (16,830) (17,257)
Proceeds from sales of property and equipment 784 847
Cash paid for acquisitions, net of cash acquired (94,860) (58,510)
Net cash used in investing activities (110,906) (74,920)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving line of credit 140,000 144,000
Payments on revolving line of credit (74,000) (129,000)
Payments on other debt (798) (567)
Payments on capital lease obligations (133) (194)
Debt financing costs   (789)
Payments of dividends to stockholders (8,199) (7,663)
Share repurchase (8,909) (10,977)
Shares received in lieu of tax withholding (1,419) (1,304)
Proceeds from exercise of options 1,296 733
Deferred acquisition payments (2,802)  
Payments for contingent consideration arrangements (2,400) (200)
Net cash provided by (used in) financing activities 42,636 (5,961)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,578) (31,127)
CASH AND CASH EQUIVALENTS, beginning of period 32,074 56,464
CASH AND CASH EQUIVALENTS, end of period $ 29,496 $ 25,337