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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 23,317 $ 12,978
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization of property and equipment 21,324 19,714
Amortization of intangible assets 2,431 1,469
Stock-based compensation expense 2,173 2,153
Deferred income taxes 537 23
Gain on sale of property and equipment (1,489) (1,397)
Other non-cash items 267 783
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net 46,353 (24,468)
Contract assets, net (7,658) (14,218)
Receivable for insurance claims in excess of deductibles 4,934 568
Other assets 7,198 (3,552)
Accounts payable (38,342) 27,242
Contract liabilities 23,271 (5,035)
Accrued self insurance (5,843) (692)
Other liabilities 19,450 (8,169)
Net cash flows provided by operating activities 97,923 7,399
Cash flows from investing activities:    
Proceeds from sale of property and equipment 1,633 1,658
Purchases of property and equipment (16,938) (27,961)
Net cash flows used in investing activities (15,305) (26,303)
Cash flows from financing activities:    
Net repayments under revolving lines of credit (70,423) (5,896)
Borrowings under equipment notes 0 24,038
Payment of principal obligations under equipment notes (13,433) (1,455)
Payment of principal obligations under finance leases (616) (575)
Proceeds from exercise of stock options 82 284
Repurchase of common shares (425) (778)
Other financing activities 49 36
Net cash flows provided by (used in) financing activities (84,766) 15,654
Effect of exchange rate changes on cash (258) 98
Net decrease in cash and cash equivalents (2,406) (3,152)
Cash and cash equivalents:    
Beginning of period 12,397 7,507
End of period $ 9,991 $ 4,355