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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 72,769 $ 82,448 $ 87,479
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 51,359 47,294 43,433
Amortization of deferred loan costs   307 1,541
Amortization of deferred loan costs (418)    
Stock-based compensation - stock options 7,864 7,112 5,095
Stock-based compensation - restricted stock   364 80
Provision for bad debts 234 194 155
Loss (gain) on disposition of assets 249 159 (69)
Non-cash operating lease expense 24 39 9
Deferred income taxes (9,736) 68 3,399
Changes in operating assets and liabilities:      
Receivables 1,499 (2,618) (840)
Income taxes receivable (517) 23,983 1,957
Inventories (1,682) (56) (399)
Prepaid expenses and other 409 (2,458) (985)
Accounts payable 18,151 8,674 (4,157)
Accrued expenses 506 7,536 3,070
Net cash provided by operating activities 140,711 173,046 139,768
Cash flows from investing activities:      
Proceeds from sale of assets 110 170 440
Change in construction accounts payable 3,535 (2,391) (8,934)
Acquisition of property and equipment (47,432) (49,005) (39,477)
Net cash used in investing activities (43,787) (51,226) (47,971)
Cash flows from financing activities:      
Payroll taxes from net exercise of stock options (2,013) (464) (6,885)
Proceeds from exercise of stock options 8,221 2,573 9,841
Line-of-credit borrowings 45,500 71,500 3,000
Line-of-credit payments (51,000) (66,000) (3,000)
Principal payments on long-term debt   (7,000) (83,000)
Payment of dividends (22,265) (112,819)  
Purchase of company common stock (59,968) (5,028) (6,500)
Net cash used in financing activities (81,525) (117,238) (86,544)
Change in cash and cash equivalents 15,399 4,582 5,253
Cash and cash equivalents at beginning of period 43,361 38,779 33,526
Cash and cash equivalents at end of period 58,760 43,361 38,779
Supplemental disclosure of cash flow information:      
Cash paid for interest 986 1,968 1,450
Cash paid for income taxes $ 29,760 25,626 $ 15,620
Cash received - income taxes refunds   $ 23,758