XML 23 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 38,436 $ 26,517 $ 13,932
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization of property and equipment 23,571 16,975 12,174
Amortization of intangibles 11,259 6,264 2,837
Amortization of deferred financing costs and debt discount 383 264 159
Provision for doubtful accounts 2,928 919 1,900
Write-off of debt issuance costs 286   233
Gain on sale of property and equipment (254) (409) (460)
Gain on bargain purchase   (1,116)  
Noncash stock compensation 1,894 2,116 300
Deferred income taxes (605) (1,515) (378)
Other     (490)
Changes in assets and liabilities, excluding effects of acquisitions      
Accounts receivable (18,760) (17,526) (10,688)
Inventories (8,677) (2,846) (2,925)
Other assets 2,803 823 (5,121)
Accounts payable 12,400 (2,511) 4,585
Income taxes payable/receivable 1,484 3,592 (1,678)
Other liabilities 6,118 3,000 5,222
Net cash provided by operating activities 73,266 34,547 19,602
Cash flows from investing activities      
Restricted cash     1,708
Purchases of property and equipment (27,013) (27,305) (6,176)
Acquisitions of businesses, net of cash acquired of $2,181, $926 and $53 in 2016, 2015 and 2014, respectively (53,312) (84,274) (12,364)
Proceeds from sale of property and equipment 691 634 689
Other 37 (420)  
Net cash used in investing activities (79,597) (111,365) (16,143)
Cash flows from financing activities      
Proceeds from initial public offering of common stock, net of costs     87,645
Proceeds from secondary public offering of common stock, net of costs     14,418
Redemption of Redeemable Preferred Stock     (75,735)
Proceeds from revolving line of credit under credit agreement applicable to respective period (Note 5) 37,975 149,350  
Payments on revolving line of credit under credit agreement applicable to respective period (Note 5) (37,975) (149,350)  
Net payments on a previous revolving line of credit     (27,269)
Proceeds from term loan under credit agreement applicable to respective period (Note 5) 100,000 50,000 25,000
Payments on term loan under credit agreement applicable to respective period (Note 5) (51,875) (24,688)  
Proceeds from delayed draw term loan under credit agreement applicable to respective period (Note 5) 12,500 50,000  
Payments on delayed draw term loan under credit agreement applicable to respective period (Note 5) (50,000)    
Proceeds from vehicle and equipment notes payable 22,948 21,334  
Debt issuance costs (1,238) (758) (714)
Principal payments on long term debt (5,849) (4,088) (1,081)
Principal payments on capital lease obligations (8,598) (9,674) (9,364)
Acquisition-related obligations (3,057) (3,151)  
Payments for deferred initial public offering costs     (4,254)
Payments for deferred secondary public offering costs     (126)
Repurchase of common stock   (6,100) (5,283)
Surrender of common stock by employees (836)    
Net cash provided by financing activities 13,995 72,875 3,237
Net change in cash 7,664 (3,943) 6,696
Cash at beginning of year 6,818 10,761 4,065
Cash at end of year 14,482 6,818 10,761
Supplemental disclosures of cash flow information Net cash paid during the year for:      
Interest 5,342 3,287 2,669
Income taxes, net of refunds 18,929 13,493 9,134
Supplemental disclosure of noncash investing and financing activities      
Vehicles capitalized under capital leases and related lease obligations 3,737 3,379 14,583
Seller obligations in connection with acquisition of businesses 4,459 13,180 3,544
Unpaid purchases of property and equipment included in accounts payable $ 775 $ 220 $ 421