XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 19,181 $ 13,261  
Adjustments to reconcile net income to cash provided by operating activities:      
Deferred income tax provision, net 8,321 931  
Provision for credit losses 172 (852)  
Depreciation and amortization 1,093 1,202  
Stock-based compensation expense 4,437 3,403  
Defined benefit pension plan expense 0 252  
Loss on disposal or impairment of assets 168 0  
Noncash lease expense 1,502 1,114  
Loss on equity method investment 825 491  
Other 190 242  
Increase in operating assets      
Trade receivables, net (12,914) (15,001)  
Other assets (2,577) (324)  
Increase in operating liabilities      
Accrued payroll costs 15,447 12,203  
Other liabilities 2,897 5,504  
Cash provided by operating activities 38,742 22,426  
Cash flows from investing activities:      
Capital expenditures (2,221) (1,350)  
Contributions to equity method investment (500) (2,000)  
Cash used in investing activities (2,721) (3,350)  
Cash flows from financing activities:      
Repurchases of common stock (10,270) (16,313)  
Cash dividends (6,094) (4,786)  
Payments on other financing arrangements (19) (122)  
Cash used in financing activities (16,383) (21,221)  
Change in cash and cash equivalents 19,638 (2,145)  
Cash and cash equivalents, beginning of period 96,989 103,486 $ 103,486
Cash and cash equivalents, end of period 116,627 101,341 $ 96,989
Cash Paid During the Period For:      
Income taxes 314 332  
Operating lease liabilities 1,812 1,690  
Interest, net 547 634  
Non-Cash Investing and Financing Transactions:      
ROU assets obtained from operating leases 446 243  
Employee stock purchase plan $ 242 $ 170