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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 42,406 $ 21,101
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,447 9,875
Impairment charges and other 0 11,120
Amortization of marketable securities 52 629
Stock-based compensation 8,336 6,464
Deferred income taxes 9,414 (5,250)
Changes in operating assets and liabilities:    
Restricted cash (3,808) (4,847)
Accounts receivable (44,347) (90,515)
Prepaid insurance (19,128) 4,842
Other current assets (1,419) 2,127
Other assets 4,104 3,136
Accounts payable (1,835) (2,291)
Payroll taxes and other payroll deductions payable (64,180) (53,466)
Accrued worksite employee payroll expense 115,459 35,695
Accrued health insurance costs 13,277 (12,045)
Accrued workers’ compensation costs 15,176 12,139
Accrued corporate payroll, commissions and other accrued liabilities (11,627) (7,349)
Income taxes payable/receivable (9,661) (2,844)
Total adjustments 18,260 (92,580)
Net cash provided by (used in) operating activities 60,666 (71,479)
Marketable securities:    
Purchases (310) (5,379)
Proceeds from dispositions 7,268 6,877
Proceeds from maturities 990 4,851
Property and equipment:    
Purchases (12,647) (5,850)
Net cash provided by (used in) investing activities (4,699) 499
Cash flows from financing activities:    
Purchase of treasury stock (4,790) (31,370)
Payments for Repurchase of Common Stock (144,263) 0
Dividends paid (9,997) (10,407)
Proceeds from the exercise of stock options 0 374
Income tax benefit from stock-based compensation 0 2,972
Borrowings under long-term debt agreement 124,400 0
Principal repayments (20,000) 0
Other 718 683
Net cash used in financing activities (53,932) (37,748)
Net increase (decrease) in cash and cash equivalents 2,035 (108,728)
Cash and cash equivalents at beginning of period 269,538 276,456
Cash and cash equivalents at end of period $ 271,573 $ 167,728