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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 41,654 $ 39,299
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,694 15,252
Bad debt expense 3,420 1,257
Loss (gain) on sale or disposition of assets and sublease, net 353 (146)
Equity-based compensation expense 4,860 6,141
Deferred income tax expense 3,630 3,503
Fair value adjustments to contingent consideration 330 (860)
Payments pursuant to tax receivable agreements (2,854) (5,047)
Other, net 840 902
Changes in operating assets and liabilities (13,740) (3,279)
Net cash provided by operating activities 55,187 57,022
Cash flows from investing activities:    
Purchases of property, equipment and software and capitalization of trademark costs (10,093) (5,316)
Acquisitions, net of cash acquired of $- and $362, respectively 0 (25,888)
Restricted cash acquired with the Marketing Funds acquisition 28,495 0
Other (1,200) 0
Net cash provided by (used in) investing activities 17,202 (31,204)
Cash flows from financing activities:    
Payments on debt (1,964) (2,382)
Distributions paid to non-controlling unitholders (11,460) (11,259)
Dividends and dividend equivalents paid to Class A common stockholders (11,298) (10,758)
Payment of payroll taxes related to net settled restricted stock units (836) (895)
Payment of contingent consideration 0 (50)
Net cash used in financing activities (25,558) (25,344)
Effect of exchange rate changes on cash 76 (18)
Net increase (decrease) in cash, cash equivalents and restricted cash 46,907 456
Cash, cash equivalents and restricted cash, beginning of year 59,974 50,807
Cash, cash equivalents and restricted cash, end of period 106,881 51,263
Supplemental disclosures of cash flow information:    
Cash paid for interest 9,004 8,487
Net cash paid for income taxes 6,032 4,802
Schedule of non-cash investing activities:    
Increase (decrease) in accounts payable and accrued liabilities for purchases of property, equipment, software and capitalization of trademark costs $ (577) $ 522