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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 116,126 $ 130,464
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairment 2,468 8,715
Gain on sale of asset   (22,086)
Depreciation and amortization expense 9,138 13,438
Bad debt expense 21,364 26,519
Compensation expense related to share-based awards 7,385 6,651
Deferred income taxes 794 4,249
Changes in operating assets and liabilities (13,280) (69,117)
Net cash provided by operating activities 143,995 98,833
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale investments (266,842) (205,529)
Sales of available-for-sale investments 277,111 179,139
Purchases of property and equipment (2,997) (4,801)
Net cash provided by (used in) investing activities 7,272 (31,191)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock 2,170 749
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 (23,156) (7,222)
Release of cash held in escrow (276) (1,000)
Net cash used in financing activities (31,466) (12,411)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 119,801 55,231
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period 119,021 118,884
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period $ 238,822 $ 174,115