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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 80,272 $ 87,747
Adjustments to reconcile net income to net cash provided by operating activities-    
Amortization of identifiable intangible assets 20,221 14,102
Depreciation expense 18,222 16,630
Change in right-of-use assets 10,552  
Bad debt expense 2,093 2,905
Deferred tax provision (benefit) (2,620) 5,520
Amortization of debt financing costs 287 288
Gain on sale of assets (1,119) (630)
Changes in the fair value of contingent earn-out obligations 3,924 (493)
Stock-based compensation 4,861 6,021
(Increase) decrease in-    
Receivables, net (31,647) (80,726)
Inventories (248) (1,917)
Prepaid expenses and other current assets (4,625) 3,085
Costs and estimated earnings in excess of billings and unbilled accounts receivable (2,081) (18,328)
Other noncurrent assets (544) (199)
Increase (decrease) in-    
Accounts payable and accrued liabilities 6,635 19,537
Billings in excess of costs and estimated earnings 4,555 17,682
Other long-term liabilities (9,023) (3,222)
Net cash provided by operating activities 99,715 68,002
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (22,641) (22,059)
Proceeds from sales of property and equipment 1,447 1,077
Proceeds from sale of business 1,611  
Cash paid for acquisitions, net of cash acquired (196,470) (65,287)
Net cash used in investing activities (216,053) (86,269)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving line of credit 320,000 104,000
Payments on revolving line of credit (177,000) (79,000)
Payments on other debt (3,254) (1,094)
Debt financing costs   (844)
Payments of dividends to stockholders (10,871) (8,930)
Share repurchase (15,317) (11,573)
Shares received in lieu of tax withholding (1,498) (1,540)
Proceeds from exercise of options 1,001 2,899
Deferred acquisition payments (637) (750)
Payments for contingent consideration arrangements (1,343) (2,195)
Net cash provided by financing activities 111,081 973
NET DECREASE IN CASH AND CASH EQUIVALENTS (5,257) (17,294)
CASH AND CASH EQUIVALENTS, beginning of period 45,620 36,542
CASH AND CASH EQUIVALENTS, end of period $ 40,363 $ 19,248