XML 18 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income $ 6,123 $ 12,824
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 11,518 10,165
Amortization 17,632 19,692
Provision for doubtful accounts 1,938 1,369
Stock-based compensation 1,947 6,058
Deferred income taxes (10,094) (4,815)
Amortization of deferred financing costs and debt discount 1,053 1,071
Excess tax benefit upon exercise of stock options (258) (2,239)
Equity in net loss of investee 4,176 3,542
Other non-cash charges (credits) (806) (225)
Changes in operating assets and liabilities:    
Accounts receivable (6,531) (60,908)
Other receivables 815 (2,617)
Restricted cash 69
Prepaid expenses and other (26,724) (8,734)
Reinsurance liability reserve 2,784 9,691
Accounts payable and accrued expenses 44,052 17,755
Income taxes payable on sale of business (28,337)
Accrued transportation costs 12,119 6,022
Deferred revenue 1,448 14,555
Other long-term liabilities 4,642 281
Net cash provided by operating activities 37,497 23,556
Investing activities    
Purchase of property and equipment (23,636) (13,122)
Net decrease in short-term investments (9) (9)
Acquisitions, net of cash acquired (1,665)
Equity investments (6,381) (13,784)
Restricted cash for reinsured claims losses 3,849 (413)
Net cash used in investing activities (26,177) (28,993)
Financing activities    
Proceeds from issuance of preferred stock, net of issuance costs 80,667
Preferred stock dividends (2,197) (1,698)
Repurchase of common stock, for treasury (32,534) (734)
Proceeds from common stock issued pursuant to stock option exercise 787 2,377
Excess tax benefit upon exercise of stock options 258 2,239
Repayment of long-term debt (15,500) (87,125)
Proceeds from long-term debt 22,500
Payment of contingent consideration (7,496)
Other financing costs (47) (29)
Net cash used in financing activities (26,733) (11,799)
Effect of exchange rate changes on cash (533) 1,991
Net change in cash and cash equivalents (15,946) (15,245)
Cash and cash equivalents at beginning of period 84,770 160,406
Cash and cash equivalents at end of period 68,824 145,161
Supplemental cash flow information:    
Cash paid for interest 6,083 8,994
Cash paid for income taxes 45,265 12,484
Accrued unfunded future equity investment capital contributions $ 9,328