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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 82,448 $ 87,479 $ 68,488
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 47,294 43,433 38,428
Amortization of deferred loan costs 307 1,541 990
Stock-based compensation - stock options 7,112 5,095 4,060
Stock-based compensation - restricted stock 364 80  
Provision for bad debts 194 155 245
Loss (gain) on disposition of assets 159 (69) 136
Non-cash operating lease expense 39 9 (16)
Deferred income taxes 68 3,399 6,527
Changes in operating assets and liabilities:      
Receivables (2,618) (840) (5,390)
Income taxes receivable 23,983 1,957 (2,052)
Inventories (56) (399) 664
Prepaid expenses (2,458) (985) 841
Accounts payable 8,674 (4,157) 6,920
Accrued expenses 7,536 3,070 8,262
Net cash provided by operating activities 173,046 139,768 128,103
Cash flows from investing activities:      
Proceeds from sale of assets 170 440 22
Change in construction accounts payable (2,391) (8,934) 9,120
Acquisition of property and equipment (49,005) (39,477) (46,928)
Net cash used in investing activities (51,226) (47,971) (37,786)
Cash flows from financing activities:      
Payroll taxes from net exercise of stock options (464) (6,885) (730)
Proceeds from exercise of stock options 2,573 9,841 8,129
Line-of-credit borrowings 71,500 3,000  
Line-of-credit payments (66,000) (3,000)  
Principal payments on long-term debt (7,000) (83,000) (92,500)
Payment of dividends (112,819)    
Purchase of company common stock (5,028) (6,500)  
Net cash used in financing activities (117,238) (86,544) (85,101)
Change in cash and cash equivalents 4,582 5,253 5,216
Cash and cash equivalents at beginning of period 38,779 33,526 28,310
Cash and cash equivalents at end of period 43,361 38,779 33,526
Supplemental disclosure of cash flow information:      
Cash paid for interest 1,968 1,450 3,069
Cash paid for income taxes 25,626 $ 15,620 $ 12,410
Cash received - income taxes refunds $ 23,758