XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ (15,621) $ 20,169 $ 35,230
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 28,007 25,697 22,420
Impairment charge 13,267 1,600 3,023
Deferred income taxes (10,965) (3,708) 14,554
Non-cash interest 355 1,314 604
Amortization of syndication contracts 471 468 475
Payments on syndication contracts (480) (470) (473)
Non-cash stock-based compensation 23,698 20,034 9,595
(Gain) loss on marketable securities 93 532  
(Gain) loss on disposal of assets/business 737 (636) (4,629)
(Gain) loss on debt extinguishment 1,556    
Change in fair value of contingent consideration (2,539) 14,210 8,224
Changes in assets and liabilities, net of businesses acquired and disposed of:      
(Increase) decrease in trade receivables, net (9,247) (9,687) (49,109)
(Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets 7,826 2,017 6,782
Increase (decrease) in accounts payable, accrued expenses and other liabilities 38,038 7,377 18,557
Net cash provided by operating activities 75,196 78,917 65,253
Cash flows from investing activities:      
Proceeds from sale of assets/business 258 2,708 10,348
Purchases of property and equipment (27,327) (11,468) (5,819)
Purchase of businesses, net of cash acquired (6,930)   (14,260)
Investment in variable interest entities, net of cash consolidated   (5,164)  
Purchases of marketable securities (11,355) (106,382)  
Proceeds from sale of marketable securities 43,335 59,814 27,800
Purchases of investments (300)   (800)
Issuance of loan receivable (13,636)    
Net cash provided by (used in) investing activities (15,955) (60,492) 17,269
Cash flows from financing activities:      
Proceeds from stock option exercises 554 219 416
Tax payments related to shares withheld for share-based compensation plans (4,057) (4,524) (4,729)
Payments on debt (215,745) (3,252) (3,000)
Dividends paid (17,588) (8,539) (8,531)
Distributions to noncontrolling interest (3,380)    
Repurchase of Class A common stock 0 (11,280)  
Payment of contingent consideration (35,113) (65,340)  
Principal payments under finance lease obligation (152) (105) (126)
Proceeds from borrowings on debt 213,087    
Payments for debt issuance costs (1,777)   (604)
Net cash used in financing activities (64,171) (92,821) (16,574)
Effect of exchange rates on cash, cash equivalents and restricted cash (5) (3) (16)
Net increase (decrease) in cash, cash equivalents and restricted cash (4,935) (74,399) 65,932
Cash, cash equivalents and restricted cash:      
Beginning 111,444 185,843 119,911
Ending 106,509 111,444 185,843
Cash payments for:      
Interest 16,936 9,562 6,412
Income taxes 13,100 16,921 4,125
Supplemental disclosures of non-cash investing and financing activities:      
Capital expenditures financed through accounts payable, accrued expenses and other liabilities 1,987 $ 2,109 942
Fair value of contingent consideration related to acquisitions and purchase of noncontrolling interest 1,854   $ 106,700
Fair value of put and call option 43,600    
Dividends equivalents payable $ 783