XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES:    
Net Income $ 3,892,000 $ 6,927,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 21,156,000 18,845,000
Bad debt expense 118,000 272,000
Sale leaseback deferred gain amortization (112,000)
Stock compensation-net of excess tax benefits 284,000 196,000
Provision for deferred income taxes 2,325,000 4,197,000
Reclassification of unrealized loss on marketable equity securities 27,000 532,000
Recognized (gain) loss on marketable equity securities (2,145,000) 89,000
Loss (gain) on sale or disposition of equipment 130,000 (3,002,000)
Changes in operating assets and liabilities:    
Accounts receivable (1,010,000) (11,633,000)
Prepaid expenses, deposits, inventories, and other assets 3,083,000 1,953,000
Income taxes refundable 27,000 2,223,000
Trade accounts payable (1,938,000) 8,951,000
Accrued expenses and other liabilities 1,403,000 (1,299,000)
Net cash provided by operating activities 27,352,000 28,139,000
INVESTING ACTIVITIES:    
Purchases of property and equipment (14,372,000) (40,390,000)
Proceeds from disposition of equipment 5,507,000 18,962,000
Change in restricted cash (1,093,000) (4,271,000)
Sales of marketable equity securities 3,079,000 279,000
Purchases of marketable equity securities, net of return of capital 13,000 (860,000)
Net cash used in investing activities (6,866,000) (26,280,000)
FINANCING ACTIVITIES:    
Borrowings under line of credit 218,678,000 254,740,000
Repayments under line of credit (220,543,000) (259,085,000)
Borrowings of long-term debt 7,821,000 43,554,000
Repayments of long-term debt (21,786,000) (21,413,000)
Borrowings under margin account 81,000 993,000
Repayments under margin account (3,604,000) (838,000)
Repurchases of common stock (1,193,000) (19,895,000)
Exercise of stock options 112,000 74,000
Net cash used in financing activities (20,434,000) (1,870,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 52,000 (11,000)
CASH AND CASH EQUIVALENTS-Beginning of period 137,000 157,000
CASH AND CASH EQUIVALENTS-End of period 189,000 146,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION-    
Interest 1,931,000 1,713,000
Income taxes 106,000 229,000
NONCASH INVESTING AND FINANCING ACTIVITIES-    
Purchases of property and equipment included in accounts payable $ 2,939,000 $ 4,960,000