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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 77,871 $ 89,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairment 2,468 1,335
Gain on sale of asset   (22,086)
Depreciation and amortization expense 6,085 9,524
Bad debt expense 12,631 18,927
Compensation expense related to share-based awards 4,557 4,315
Deferred income taxes 562 2,975
Changes in operating assets and liabilities (11,157) (37,927)
Net cash provided by operating activities 93,017 66,220
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale investments (204,060) (159,183)
Sales of available-for-sale investments 145,945 132,325
Purchases of property and equipment (2,022) (3,612)
Net cash used in investing activities (60,137) (30,470)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock 1,805 313
Purchase of treasury stock (6,769) (2,729)
Payments of employee tax associated with stock compensation (3,435) (2,209)
Payments of cash dividends and dividend equivalents (14,613)  
Net cash used in financing activities (23,012) (4,625)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 9,868 31,125
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period 119,021 118,884
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period $ 128,889 $ 150,009