XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 45,863 $ 98,682 $ 64,581
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14,667 14,268 13,940
Bad debt provision 10,483 9,636 25,480
Deferred income tax benefit (expense) 3,074 (5,893) (684)
Share-based compensation expense 8,827 7,872 6,865
Amortization of premium on marketable securities 2,275 1,822 1,434
Unrealized gain on deferred compensation fund investments (6,397) (9,390) (7,257)
Loss on sale of assets 1,469 1,335 0
Changes in operating assets and liabilities:      
Accounts and notes receivable (37,185) 46,158 (29,532)
Inventories and supplies 5,599 4,931 4,765
Prepaid expenses and other assets (12,250) (756) 3,480
Deferred compensation funding 6,661 (52) (738)
Accounts payable and other accrued expenses 10,244 (7,250) (9,532)
Accrued payroll, accrued and withheld payroll taxes (22,189) 59,527 3,517
Income taxes receivable (8,420) (8,075) 7,845
Accrued insurance claims 6,966 (5,194) 8,482
Deferred compensation liability 7,421 9,592 935
Net cash provided by operating activities 37,108 217,213 93,581
Cash flows from investing activities:      
Disposals of fixed assets 211 274 199
Additions to property and equipment (5,687) (4,341) (4,368)
Purchases of marketable securities (20,335) (39,047) (33,544)
Sales of marketable securities 26,697 6,269 21,256
Cash paid for acquisitions (23,876) 0 0
Net cash used in investing activities (22,990) (36,845) (16,457)
Cash flows from financing activities:      
Dividends paid (62,226) (60,705) (58,951)
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan 92 93 90
Proceeds from the exercise of stock options 2,425 2,920 3,628
Purchases of treasury stock (21,535) 0 0
Repayments of short-term borrowings, net 0 (10,000) (20,000)
Payments of statutory withholding on net issuance of restricted stock units (1,410) (675) (587)
Net cash used in financing activities (82,654) (68,367) (75,820)
Net change in cash and cash equivalents (68,536) 112,001 1,304
Cash and cash equivalents at beginning of the period 139,330 27,329 26,025
Cash and cash equivalents at end of the period 70,794 139,330 27,329
Supplementary cash flow information:      
Cash paid for interest 1,385 1,374 3,459
Cash paid for income taxes, net of refunds 21,233 44,865 20,026
Contingent shares settled pursuant to acquisition 0 0 1,012
Accrued variable consideration for acquisition of businesses $ 10,456 $ 0 $ 0