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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 4,340 $ 5,278
Adjustments to reconcile Net income to Net cash provided by operating activities:    
Depreciation 4,014 4,021
Amortization of intangible assets 20,539 21,659
Amortization of accumulated other comprehensive loss on interest rate swap 1,417 1,417
Stock-based compensation 5,221 4,978
Deferred income taxes (374) (226)
Provision for doubtful accounts 27 129
Amortization of debt issuance costs 816 834
Amortization of deferred revenue related to Accu-Trade Acquisition (442) 0
Other, net 87 (34)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 4,442 282
Prepaid expenses and other assets 3,073 (5,782)
Accounts payable 1,081 6,438
Accrued compensation (13,488) (9,141)
Other liabilities 5,751 8,945
Net cash provided by operating activities 30,358 50,362
Cash flows from investing activities:    
Payments for acquisitions, net of cash acquired (64,770) 0
Purchase of property and equipment (4,008) (6,219)
Net cash used in investing activities (68,778) (6,219)
Cash flows from financing activities:    
Proceeds from revolving loan borrowings 45,000 0
Payments of long-term debt (2,500) (52,500)
Payments for stock-based compensation plans, net (7,696) (5,630)
Repurchases of common stock (5,000) 0
Payments of debt issuance costs and other fees 0 (8)
Net cash provided by (used in) financing activities 29,804 (58,138)
Net decrease in cash and cash equivalents (8,616) (13,995)
Cash and cash equivalents at beginning of period 39,069 67,719
Cash and cash equivalents at end of period 30,453 53,724
Supplemental cash flow information:    
Cash paid (received) for income taxes 17 (9,045)
Cash paid for interest and interest rate swap $ 2,743 $ 3,503