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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net income $ 12,224 $ 22,625
Reconciliation of net income to net cash provided by operating activities:    
Depreciation expense 6,299 5,699
Amortization expense - intangible assets 1,849 1,455
Loss on disposition of business 472 361
Allowance for credit losses on receivables/bad debt on receivables (2,211) 588
Equity in loss of unconsolidated affiliates 839 1,213
Agent growth incentive stock compensation expense 29,912 22,828
Stock option compensation 7,659 10,872
Agent equity stock compensation expense 104,548 131,230
Deferred income taxes, net 3,435 (10,845)
Changes in operating assets and liabilities:    
Accounts receivable (23,401) 13,603
Prepaids and other assets (3,966) (3,003)
Customer deposits 16,421 (16,135)
Accounts payable (1,069) 1,952
Accrued expenses 28,039 4,770
Long term payable (4,692)  
Other operating activities 158 111
NET CASH PROVIDED BY OPERATING ACTIVITIES 176,516 187,324
INVESTING ACTIVITIES    
Purchases of property, plant, equipment (4,193) (9,222)
Proceeds from sale of business 330  
Acquisition of businesses, net of cash acquired   (9,668)
Investments in unconsolidated affiliates (5,525)  
Capitalized software development costs in intangible assets (1,930)  
NET CASH USED IN INVESTING ACTIVITIES (11,318) (18,890)
FINANCING ACTIVITIES    
Repurchase of common stock (134,625) (139,635)
Proceeds from exercise of options 4,761 2,221
Transactions with noncontrolling interests   (425)
Dividends declared and paid (20,979) (18,537)
NET CASH USED IN FINANCING ACTIVITIES (150,843) (156,376)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash 403 (771)
Net change in cash, cash equivalents and restricted cash 14,758 11,287
Cash, cash equivalents and restricted cash, beginning balance 159,383 175,910
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 174,141 187,197
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:    
Cash paid for income taxes 2,382 $ 2,933
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Termination of lease obligation - operating lease 855  
Issuance of treasury stock, for acquisition   4,800
Property, plant and equipment purchases in accounts payable 27 $ 20
Contingent consideration for disposition of business 1,209  
Property, plant and equipment increase due to transfer of right-of-use lease asset. $ 1,100