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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 109,845 $ 119,738 $ 57,425
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 54,108 50,373 53,214
Amortization of intangible assets 18,045 15,015 16,003
Amortization of debt issuance costs 1,441 1,684 1,684
Deferred income taxes 12,161 1,266 2,318
Non-cash stock compensation expense 12,462 11,315 6,769
Gain on sale of property, equipment and real estate (1,973) (3,321) (1,683)
Gain on insurance proceeds (107) 0 (1,991)
Other non-cash adjustments 3,769 613 987
Change in assets and liabilities, net of effects of acquisitions      
Accounts receivable, net of allowances 846 16,078 (3,252)
Inventories 68 3,257 (32,297)
Accounts payable 52,364 (51,348) 3,477
Other assets and liabilities (17,176) 45,355 (8,720)
Net cash provided by operating activities 245,853 210,025 93,934
Cash flows from investing activities      
Purchases of businesses, net of cash acquired (124,412) (20,970) (38,438)
Purchases of property, equipment and real estate (89,392) (55,174) (63,278)
Proceeds from sale of property, equipment and real estate 4,880 11,432 13,445
Insurance proceeds 107 1,991 0
Proceeds from sale of business 0 7,773 0
Net cash used in investing activities (208,817) (54,948) (88,271)
Cash flows from financing activities      
Proceeds from revolving line of credit 110,987 854,946 995,306
Repayments of proceeds from revolving line of credit (110,987) (859,408) (990,844)
Repurchases of common stock under share repurchase program (16,446) (2,891) 0
Payments on finance lease obligations 6,697 7,759 9,926
Secured borrowings 2,445 431 2,880
Proceeds from exercise of stock options 2,704 1,327 3,396
Repurchases of common stock related to equity award activity (1,712) (2,044) (977)
Acquisition-related post-closing payments, net (1,028) (370) 0
Earnout payments (628) 0 0
Payments of debt issuance costs (901) 0 (38)
Principal payments on other notes 0 (336) (2,627)
Net cash used in financing activities (22,263) (16,104) (2,830)
Net increase in cash and cash equivalents 14,773 138,973 2,833
Cash and cash equivalents      
Beginning of period 150,723 11,750 8,917
End of period 165,496 150,723 11,750
Supplemental disclosure of cash flow information      
Interest paid 21,715 22,361 24,210
Cash paid for income taxes, net 32,884 31,260 22,858
Non-cash investing and financing transactions      
Acquisition-related holdback payments due at a future date 8,478 1,403 375
Accrued purchases of property and equipment $ 8,333 1,963 811
Assets acquired under capital lease obligations   $ 821 $ 2,481