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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Net income $ 12,933 $ (4,197)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,942 4,549
Provision for bad debt and credit losses 588 690
Stock-based compensation expense 1,307 831
Deferred income tax expense 1,514 3,596
Amortization of deferred financing costs 193 200
Amortization of capitalized commissions and non-compete agreements 152 141
Accretion of discount on convertible subordinated notes 20 65
Accretion of debt discount, net of debt premium on senior notes 80 75
Net loss (gain) on divestiture and impairment charges (308) 14,693
Net loss on disposal of other assets 329 60
Other 0 19
Changes in operating assets and liabilities that provided (required) cash:    
Accounts and preneed receivables (1,521) 2,179
Inventories, prepaid and other current assets (153) (8,748)
Intangible and other non-current assets (291) (290)
Preneed funeral and cemetery trust investments (2,952) (2,890)
Accounts payable (1,712) (2,133)
Accrued and other liabilities 6,853 (114)
Deferred preneed funeral and cemetery revenue 1,183 1,080
Deferred preneed funeral and cemetery receipts held in trust 3,486 3,553
Net cash provided by operating activities 26,811 13,546
Cash flows from investing activities:    
Acquisition of businesses 0 (28,000)
Proceeds from divestitures and sale of other assets 2,800 78
Capital expenditures (4,347) (2,738)
Net cash used in investing activities (1,897) (30,660)
Cash flows from financing activities:    
Borrowings from the credit facility 15,168 63,200
Payments against the credit facility (34,068) (33,000)
Conversions and maturity of the convertible subordinated notes due 2021 (3,980) 0
Payments on acquisition debt and obligations under finance leases (233) (487)
Payments on contingent consideration recorded at acquisition date (461) (169)
Proceeds from the exercise of stock options and employee stock purchase plan 625 361
Taxes paid on restricted stock vestings and exercise of stock options (642) (234)
Dividends paid on common stock (1,799) (1,339)
Net cash provided by (used in) financing activities (25,397) 28,318
Net increase (decrease) in cash and cash equivalents (483) 11,204
Cash and cash equivalents at beginning of period 889 716
Cash and cash equivalents at end of period 406 11,920
Senior Notes [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs 74 67
Cash flows from financing activities:    
Payments of debt issuance costs and transaction costs (7) (14)
Senior Notes [Member] | Senior Note Two [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of debt discount, net of debt premium on senior notes 58 54
Convertible Subordinated Notes [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs $ 1 $ 6