XML 16 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 4,836 $ 13,407
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes (513) 2,370
Noncash stock compensation expense 9,225 7,762
Noncash interest expense 1,711 5,762
Change in contingent consideration due to seller (325) 543
Depreciation and amortization 29,251 28,855
Change in assets:    
Accounts receivable (145,536) 22,674
Income taxes receivable 3,635 3,015
Prepaid expenses and other assets 505 (386)
Change in liabilities:    
Accounts payable 142,497 (5,243)
Accrued expenses and other liabilities 8,586 (9,363)
Payment of contingent consideration in excess of amounts established in purchase accounting (507) (1,097)
Net cash provided by operating activities 53,367 68,298
Investing activities    
Purchases of property and equipment (15,144) (18,854)
Payments for acquisitions, net of cash acquired 0 (33)
Net cash used in investing activities (15,144) (18,887)
Financing activities    
Payments of contingent consideration due to seller (447) (1,206)
Proceeds from exercise of stock options 405 37
Employee tax withholdings related to net share settlements of equity-based awards (1,676) (2,082)
Purchases of treasury stock (10,349) (26,108)
Purchases of Convertible Notes (88,961) (33,915)
Settlement of Convertible Notes (69,242) 0
Proceeds from borrowing on ABL facility 170,000 25,000
Repayments of amounts borrowed on ABL facility (25,000) (25,000)
Net cash used in financing activities (25,269) (63,275)
Increase (Decrease) in cash and cash equivalents 12,953 (13,863)
Cash and cash equivalents, beginning of period 34,626 40,281
Cash and cash equivalents, end of period 47,579 26,418
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 3,967 3,172
Cash paid during the period for income taxes 303 4,238
Cash received during the period for income taxes refunded $ 0 $ 3,348