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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 97,213 $ 42,466
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairment 612  
Depreciation and amortization expense 10,785 6,752
Bad debt expense 36,706 32,028
Compensation expense related to share-based awards 9,735 3,922
Deferred income taxes 11,339 16,265
Changes in operating assets and liabilities (28,637) (16,042)
Net cash provided by operating activities 137,753 85,391
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale investments (333,767) (418,156)
Sales of available-for-sale investments 213,576 382,022
Purchases of property and equipment (7,479) (3,220)
Business acquisition (39,819)  
Other   9
Net cash used in investing activities (167,489) (39,345)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock 1,925 1,326
Purchase of treasury stock (17,862)  
Payments of employee tax associated with stock compensation (894) (2,692)
Net cash used in financing activities (16,831) (1,366)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (46,567) 44,680
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period 108,687 32,731
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period 62,120 $ 77,411
Supplemental non-cash disclosure:    
Amount held in escrow to secure indemnification obligations from business acquisition $ 4,000