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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities:      
Net income $ 84,097 $ 87,593 $ 76,850
Adjustments to reconcile net income to net cash provided by operating activities (net of effect of acquisitions):      
Depreciation 74,031 67,948 57,614
Amortization of intangible assets 11,369 11,302 8,689
Intangible asset impairment     477
Stock-based compensation expense 1,579 1,253 1,126
Gain on short-term investments     (5,817)
Gain on sale of property and equipment (11,947) (3,556) (4,434)
Other non-cash items 320 275 203
Changes in assets and liabilities:      
Accounts receivable (28,240) 20,912 60,739
Contract assets 19,677 (67,593) (32,137)
Other current assets (7,248) (2,278) 7,507
Net deferred tax liabilities (assets) 13,947 17,155 3,741
Other long-term assets 1,249 244 28
Accounts payable (13,894) 32,323 (30,547)
Contract liabilities (1,221) (43,801) 42,610
Operating lease assets and liabilities, net (3,191)    
Accrued liabilities (22,924) 5,933 1,915
Other long-term liabilities 377 (895) 378
Net cash provided by operating activities 117,981 126,815 188,942
Cash flows from investing activities:      
Purchase of property and equipment (94,494) (110,189) (79,782)
Issuance of a note receivable   (15,000)  
Proceeds from a note receivable   15,000  
Proceeds from sale of property and equipment 28,621 11,657 8,736
Purchase of short-term investments     (13,588)
Sale of short-term investments     19,405
Cash paid for acquisitions, net of cash and restricted cash acquired   (110,620) (66,205)
Net cash used in investing activities (65,873) (209,152) (131,434)
Cash flows from financing activities:      
Borrowings under revolving line of credit 212,880 190,000  
Payments on revolving line of credit (212,880) (190,000)  
Proceeds from issuance of long-term debt 55,008 255,967 55,000
Repayment of long-term debt (72,077) (145,726) (61,816)
Proceeds from issuance of common stock purchased under a long-term incentive plan 1,804 1,498 1,148
Payment of taxes on conversion of Restricted Stock Units (1,519)    
Payment of contingent earnout liability   (1,200)  
Cash distribution to noncontrolling interest holders (3,505) (13,084)  
Repurchase of common stock from a related party (50,000)    
Repurchase of common stock   (20,000) (4,999)
Dividends paid (12,211) (12,343) (11,326)
Other (784) (1,173) (953)
Net cash (used in) provided by financing activities (83,284) 63,939 (22,946)
Effect of exchange rate changes on cash and cash equivalents 399 (924)  
Net change in cash and cash equivalents (30,777) (19,322) 34,562
Cash and cash equivalents at beginning of the year 151,063 170,385 135,823
Cash and cash equivalents at end of the year 120,286 151,063 170,385
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest 16,155 16,105 7,965
Cash paid for income taxes, net 16,647 14,246 25,984
Leased assets obtained in exchange for new operating leases 154,807    
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Dividends declared and not yet paid $ 2,919 $ 3,043 $ 3,087