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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 18,471 $ 43,758
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,560 10,961
Bad debt provision 23,342 10,790
Deferred income tax (expense) benefit 0 198
Share-based compensation expense 7,156 6,968
Amortization of premium on marketable securities 1,673 1,740
Unrealized loss (gain) on deferred compensation fund investments 11,445 (3,958)
Changes in contingent consideration (2,408) 0
Net loss on disposals of fixed assets 942 1,157
Changes in operating assets and liabilities:    
Accounts and notes receivable (75,042) (41,275)
Inventories and supplies 3,303 4,872
Prepaid expenses and other assets 6,180 (23,459)
Deferred compensation funding 7,093 72
Accounts payable and other accrued expenses (13,134) 10,694
Accrued payroll, accrued and withheld payroll taxes (21,240) (26,085)
Taxes receivable 3,383 0
Accrued insurance claims 6,555 4,871
Deferred compensation liability (20,339) 4,427
Net cash (used in) provided by operating activities (31,060) 5,731
Cash flows from investing activities:    
Disposals of fixed assets 187 201
Additions to property and equipment (4,142) (4,202)
Purchases of marketable securities (2,875) (16,683)
Sales of marketable securities 9,816 12,368
Cash paid for acquisitions (114) (6,000)
Net cash provided by (used in) investing activities 2,872 (14,316)
Cash flows from financing activities:    
Dividends paid (47,389) (46,672)
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan 77 69
Proceeds from the exercise of stock options 410 2,238
Purchases of treasury stock 0 (5,397)
Proceeds from short-term borrowings 25,000 0
Payments of statutory withholding on net issuance of restricted stock units (1,071) (1,401)
Net cash used in financing activities (22,973) (51,163)
Net change in cash and cash equivalents (51,161) (59,748)
Cash and cash equivalents at beginning of the period 70,794 139,330
Cash and cash equivalents at end of the period 19,633 79,582
Supplemental disclosure of non-cash investing activities    
Accrued variable consideration from acquisition of a business $ 0 $ 10,562