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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income (loss) $ 53,096 $ (1,129)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 4,564 5,710
Amortization 5,334 3,117
Provision for doubtful accounts 2,229 281
Stock-based compensation 1,772 3,392
Deferred income taxes 11,441 (1,346)
Amortization of deferred financing costs and debt discount 136 201
Equity in net (gain) loss of investee (1,875) 2,971
Reduction of right of use assets 4,373 5,093
Loss on disposal of assets 216 0
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 8,206 (7,389)
Prepaid expenses and other (13,119) (3,680)
Income taxes on gain from sale of business 173 8,223
Self-funded insurance programs 615 (1,235)
Accounts payable and accrued expenses 50,324 9,775
Accrued transportation costs (3,010) 2,936
Deferred revenue 462 (433)
Long-term contract payables and other long-term liabilities 22,251 (3,416)
Net cash provided by operating activities 147,188 23,071
Investing activities    
Purchase of property and equipment (2,330) (4,277)
Acquisition, net of cash acquired (77,665) 0
Net cash used in investing activities (79,995) (4,277)
Financing activities    
Proceeds from debt 162,000 12,000
Repayment of debt (162,000) (12,000)
Preferred stock conversion payment (82,769) 0
Preferred stock dividends (1,961) (2,185)
Repurchase of common stock, for treasury (10,186) (372)
Proceeds from common stock issued pursuant to stock option exercise 11,329 6,383
Restricted stock surrendered for employee tax payment (37) 0
Other financing activities (154) (566)
Net cash (used in) provided by financing activities (83,778) 3,260
Net change in cash, cash equivalents and restricted cash (16,585) 22,054
Cash, cash equivalents and restricted cash at beginning of period 61,673 12,367
Cash, cash equivalents and restricted cash at end of period $ 45,088 $ 34,421