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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 40,957 $ 40,083
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,891 22,955
Amortization of deferred loan costs   307
Stock-based compensation - stock options 3,551 2,750
Provision for bad debts 132 44
Loss on disposition of assets 63 58
Non-cash operating lease expense 16 10
Changes in operating assets and liabilities:    
Receivables 1,997 1,462
Income taxes receivable (574) 20,390
Inventories (485) 392
Prepaid expenses 3,087 1,529
Accounts payable (5,694) 616
Accrued expenses (5,348) (2,681)
Net cash provided by operating activities 62,593 87,915
Cash flows from investing activities:    
Proceeds from sale of assets 49 91
Change in construction accounts payable 261 (2,508)
Acquisition of property and equipment (30,974) (23,202)
Net cash used in investing activities (30,664) (25,619)
Cash flows from financing activities:    
Payroll taxes from net exercise of stock options (38) (99)
Proceeds from exercise of stock options 2,340 1,473
Line-of-credit borrowings 45,500 61,000
Line-of-credit payments (28,000) (20,000)
Principal payments on long-term debt   (7,000)
Payment of dividends (11,229) (101,349)
Purchase of company common stock (50,355)  
Net cash used in financing activities (41,782) (65,975)
Change in cash and cash equivalents (9,853) (3,679)
Cash and cash equivalents at beginning of period 43,361 38,779
Cash and cash equivalents at end of period 33,508 35,100
Supplemental disclosure of cash flow information:    
Cash paid for interest 286 1,342
Cash paid for income taxes $ 12,740 $ 14,766