XML 83 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 20,190 $ 9,156
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,556 3,489
Bad debt provision 2,060 18,470
Share-based compensation expense 1,973 1,838
Amortization of premium on marketable securities 450 382
Unrealized loss (gain) on deferred compensation fund investments 5,761 (3,445)
Changes in operating assets and liabilities:    
Accounts and notes receivable (9,645) (25,986)
Inventories and supplies (421) 300
Prepaid expenses and other assets (4,574) (323)
Deferred compensation funding 1,478 744
Accounts payable and other accrued expenses (379) (5,322)
Accrued payroll, accrued and withheld payroll taxes (4,626) 18,465
Income taxes payable 2,480 (5,730)
Accrued insurance claims 1,379 2,622
Deferred compensation liability (6,994) 2,917
Net cash provided by operating activities 12,688 17,577
Cash flows from investing activities:    
Disposals of fixed assets 129 64
Additions to property and equipment (788) (1,336)
Purchases of marketable securities (2,670) (4,277)
Sales of marketable securities 1,757 3,539
Net cash used in investing activities (1,572) (2,010)
Cash flows from financing activities:    
Dividends paid (15,033) (14,588)
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan 23 24
Proceeds from the exercise of stock options 1,724 1,913
Proceeds from short-term borrowings 40,000 0
Payments of statutory withholding on net issuance of restricted stock units (661) (579)
Net cash provided by (used in) financing activities 26,053 (13,230)
Net change in cash and cash equivalents 37,169 2,337
Cash and cash equivalents at beginning of the period 27,329 26,025
Cash and cash equivalents at end of the period $ 64,498 $ 28,362