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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 39,442 $ 34,484
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairment 1,630 570
Depreciation and amortization expense 3,016 5,155
Bad debt expense 6,556 10,757
Compensation expense related to share-based awards 2,307 2,294
Deferred income taxes 741 304
Changes in operating assets and liabilities 800 (48,992)
Net cash provided by operating activities 54,492 4,572
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale investments (104,558) (83,777)
Sales of available-for-sale investments 74,955 64,344
Purchases of property and equipment (1,198) (1,925)
Net cash used in investing activities (30,801) (21,358)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock 1,520 247
Purchase of treasury stock (6,769) (815)
Payments of employee tax associated with stock compensation (3,435) (2,209)
Payments of cash dividends (7,197)  
Net cash used in financing activities (15,881) (2,777)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 7,810 (19,563)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period 119,021 118,884
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period $ 126,831 $ 99,321