XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 130,464 $ 79,912
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairment 8,715 228
Gain on sale of asset (22,086)  
Depreciation and amortization expense 13,438 14,856
Bad debt expense 26,519 32,284
Compensation expense related to share-based awards 6,651 6,234
Deferred income taxes 4,249 1,099
Changes in operating assets and liabilities (69,117) (26,973)
Net cash provided by operating activities 98,833 107,640
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale investments (205,529) (410,493)
Sales of available-for-sale investments 179,139 202,927
Purchases of property and equipment (4,801) (9,105)
Business acquisition   (39,037)
Net cash used in investing activities (31,191) (255,708)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock 749 916
Purchase of treasury stock (2,729) (23,117)
Payments of employee tax associated with stock compensation (2,209) (1,612)
Payments of cash dividends (7,222)  
Release of cash held in escrow (1,000) (3,986)
Net cash used in financing activities (12,411) (27,799)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 55,231 (175,867)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period 118,884 325,178
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period $ 174,115 149,311
Supplemental non-cash disclosure:    
Amounts placed in escrow during the period to secure indemnification obligations from business acquisitions   $ 1,000