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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 51,972 $ 68,040
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,022 6,342
Bad debt provision 42,387 4,000
Stock-based compensation expense (benefit), net of tax impact from equity compensation plans 3,407 (632)
Amortization of premium on marketable securities 1,007 929
Unrealized gain on deferred compensation fund investments (3,071) (3,351)
Changes in operating assets and liabilities:    
Accounts and notes receivable (49,873) (103,697)
Inventories and supplies 798 (997)
Prepaid expenses and other assets 725 (11,658)
Deferred compensation funding (1,141) 83
Accounts payable and other accrued expenses 55 (1,102)
Accrued payroll, accrued and withheld payroll taxes 23,202 28,575
Income taxes payable (14,514) 7,865
Accrued insurance claims 8,249 4,992
Deferred compensation liability 4,284 3,733
Net cash provided by operating activities 74,509 3,122
Cash flows from investing activities:    
Disposals of fixed assets 481 264
Additions to property and equipment (3,739) (3,962)
Purchases of marketable securities (13,069) (22,149)
Sales of marketable securities 8,706 20,354
Cash paid for acquisitions 0 (4,584)
Net cash used in investing activities (7,621) (10,077)
Cash flows from financing activities:    
Dividends paid (42,748) (41,302)
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan 68 71
Proceeds from the exercise of stock options 6,855 10,338
Net (repayments) proceeds from short-term borrowings (25,423) 25,000
Net cash used in financing activities (61,248) (5,893)
Net change in cash and cash equivalents 5,640 (12,848)
Cash and cash equivalents at beginning of the period 9,557 23,853
Cash and cash equivalents at end of the period $ 15,197 $ 11,005