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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 116,654 $ 41,624
Adjustments to reconcile net income to cash provided by operating activities:    
Gain on sale of discontinued operations (79,602) 0
Deferred income tax provision, net 1,022 (1,025)
Provision for bad debts 936 1,504
Depreciation and amortization 5,051 6,246
Stock-based compensation expense 7,469 6,558
Defined benefit pension plan expense 647 1,366
Loss on deferred compensation plan investments, net 80 384
Loss on disposal or impairment of assets 1,077 23
Noncash lease expense 4,830  
Loss on equity method investment 359 0
Contingent consideration liability remeasurement 459 0
Other 263 265
(Increase) decrease in operating assets    
Trade receivables, net (14,987) (13,252)
Income tax refund receivable 100 6,811
Prepaid expenses and other current assets (1,459) (2,535)
Other assets, net (6,985) 940
Increase (decrease) in operating liabilities    
Accounts payable and other accrued liabilities 2,638 3,647
Accrued payroll costs 9,583 4,807
Income taxes payable (635) 6,445
Other liabilities (990) 867
Cash provided by operating activities 46,510 64,675
Cash flows from investing activities:    
Capital expenditures (7,728) (4,005)
Equity method investment (7,500) 0
Net proceeds from the sale of assets held for sale 123,254 1,000
Cash provided by (used in) investing activities 108,026 (3,005)
Cash flows from financing activities:    
Proceeds from credit facility 80,100 427,600
Payments on credit facility (86,900) (464,823)
Payments on other financing arrangements (1,353) (1,491)
Repurchases of common stock (91,947) (12,465)
Cash dividends (12,726) (10,404)
Payment of contingent consideration liability (477) 0
Other (25) 0
Cash used in financing activities (113,328) (61,583)
Change in cash and cash equivalents 41,208 87
Cash and cash equivalents, beginning of period 112 379
Cash and cash equivalents, end of period 41,320 466
Cash Paid During the Period For:    
Income taxes [1] 16,749 8,583
Operating lease liabilities 6,256  
Interest, net 1,079 3,132
Non-Cash Financing and Investing Transactions:    
ROU assets obtained from new operating leases 7,224  
Contingent contribution for equity method investment 1,500 0
Unsettled repurchases of common stock 1,060 0
Employee stock purchase plan 427 405
Equipment acquired under finance leases 202 424
Shares tendered in payment of exercise price of stock options $ 0 46
Proceeds from income tax refunds   $ 6,800
[1] During the nine months ended September 30, 2018, cash provided by operating activities includes the receipt of an income tax refund in the amount of $6.8 million.