XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 59,456 $ 57,211
Adjustments to reconcile net income to net cash provided by operating activities-    
Amortization of identifiable intangible assets 17,749 17,141
Depreciation expense 13,925 13,633
Change in right-of-use assets 8,554 8,687
Bad debt expense (benefit) (429) 4,593
Deferred tax provision (benefit) 5,449 (2,980)
Amortization of debt financing costs 267 270
Gain on sale of assets (841) (866)
Changes in the fair value of contingent earn-out obligations (5,767) 1,599
Stock-based compensation 6,860 5,188
(Increase) decrease in-    
Receivables, net (6,841) 30,258
Inventories (5,365) (220)
Prepaid expenses and other current assets 13,037 13,382
Costs and estimated earnings in excess of billings and unbilled accounts receivable (2,752) (6,185)
Other noncurrent assets (1,105) (228)
Increase (decrease) in-    
Accounts payable and accrued liabilities (10,964) (1,984)
Billings in excess of costs and estimated earnings 27,510 22,082
Other long-term liabilities (8,674) 2,205
Net cash provided by operating activities 110,069 163,786
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (10,762) (14,539)
Proceeds from sales of property and equipment 1,530 1,378
Cash paid for acquisitions, net of cash acquired (11,742) (101,998)
Net cash used in investing activities (20,974) (115,159)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 25,000 178,000
Payments on revolving credit facility (80,000) (151,000)
Payments on term loan (15,000) (11,250)
Payments on other debt (8,765) (32,449)
Payments of dividends to stockholders (8,341) (7,674)
Share repurchase (3,047) (11,006)
Shares received in lieu of tax withholding (2,363) (1,076)
Proceeds from exercise of options 3,449 556
Deferred acquisition payments (400) (400)
Payments for contingent consideration arrangements (865) (9,863)
Net cash used in financing activities (90,332) (46,162)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,237) 2,465
CASH AND CASH EQUIVALENTS, beginning of period 54,896 50,788
CASH AND CASH EQUIVALENTS, end of period $ 53,659 $ 53,253