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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 130,862 $ 57,980 $ 33,285
Adjustments to reconcile net income to cash provided by operating activities:      
Gain on sale of assets held for sale (79,318) 0  
Gain on sale of assets held for sale     (3,148)
Deferred income tax provision, net (49) 989 12,243
Provision for bad debts 1,209 1,820 1,031
Depreciation and amortization 6,481 8,265 8,508
Stock-based compensation expense 9,912 8,797 7,600
Defined benefit pension plans expense 862 1,821 937
Loss on deferred compensation plan investments, net 245 563 510
Loss on disposal or impairment of assets 1,084 38 196
Noncash lease expense 6,282    
Loss on equity method investment 831 0 0
Contingent consideration liability remeasurement 459 0 565
Other 352 350 692
(Increase) decrease in operating assets      
Trade receivables, net (5,360) (10,851) (20,535)
Other assets (9,639) 5,741 (8,971)
Increase (decrease) in operating liabilities      
Accrued payroll costs 4,567 1,350 1,954
Other liabilities (2,163) 10,860 (5,528)
Cash provided by operating activities 66,617 87,723 29,339
Cash flows from investing activities:      
Capital expenditures (10,359) (5,170) (5,846)
Equity method investment (9,000) 0 0
Net proceeds from the sale of assets held for sale 122,544 1,000 1,000
Cash provided by (used in) investing activities 103,185 (4,170) (4,846)
Cash flows from financing activities:      
Proceeds from credit facility 80,100 450,400 1,038,593
Payments on credit facility (86,900) (495,123) (1,033,617)
Payments on other financing arrangements (1,720) (2,039) (2,148)
Repurchases of common stock (124,453) (22,187) (14,622)
Cash dividends (16,608) (14,871) (12,144)
Payment of contingent consideration liability (477) 0 0
Other (25) 0 (1,658)
Cash used in financing activities (150,083) (83,820) (25,596)
Change in cash and cash equivalents 19,719 (267) (1,103)
Cash and cash equivalents at beginning of year 112 379 1,482
Cash and cash equivalents at end of year 19,831 112 379
Cash paid during the year for:      
Income taxes [1] 24,935 13,442 24,330
Operating lease liabilities 8,186    
Interest, net 1,480 3,814 3,518
Non-Cash Financing and Investing Transactions:      
ROU assets obtained from operating leases 9,205    
Employee stock purchase plan 558 549 522
Unsettled repurchases of common stock 0 556 898
Receivable for sale of Kforce Global Solutions, Inc.'s assets $ 0 0 $ 1,979
Proceeds from income tax refunds   $ 6,800  
[1] During the year ended December 31, 2018, cash provided by operating activities included the receipt of an income tax refund in the amount of $6.8 million.