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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 45,359 $ 68,359
Adjustments to reconcile net income to cash provided by operating activities:    
Deferred income tax provision, net (757) 4,386
Provision for credit losses 325 (231)
Depreciation and amortization 3,776 3,214
Stock-based compensation expense 14,602 13,293
Noncash lease expense 3,111 4,313
Loss on equity method investment 750 2,737
Other 675 (167)
(Increase) decrease in operating assets    
Trade receivables, net 20,880 (15,571)
Other assets (289) (1,989)
Increase (decrease) in operating liabilities    
Accrued payroll costs (4,812) 11,025
Payment of benefit under terminated pension plan 0 (19,965)
Other liabilities (14,564) 8,659
Cash provided by operating activities 69,056 78,063
Cash flows from investing activities:    
Capital expenditures (6,076) (4,656)
Proceeds from the sale of our joint venture interest 5,059 0
Premiums paid for company-owned life insurance policies (765) 0
Equity method investment (750) (500)
Note receivable issued to our joint venture 0 (4,500)
Cash used in investing activities (2,532) (9,656)
Cash flows from financing activities:    
Proceeds from credit facility 426,400 0
Payments on credit facility (430,600) (100,000)
Repurchases of common stock (41,470) (42,103)
Cash dividends (20,842) (18,164)
Other (11) (40)
Cash used in financing activities (66,523) (160,307)
Change in cash and cash equivalents 1 (91,900)
Cash and cash equivalents, beginning of period 121 96,989
Cash and cash equivalents, end of period 122 5,089
Supplemental Disclosure of Cash Flow Information    
Income taxes 19,323 14,348
Operating lease liabilities 3,937 5,413
Interest, net 623 918
Non-Cash Investing and Financing Transactions:    
ROU assets obtained from operating leases 3,692 274
Employee stock purchase plan 817 831
Unsettled repurchases of common stock $ 2,292 $ 1,030