XML 15 R5.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 18,626 $ 15,516
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,965 1,911
Bad debt provision 1,100 925
Deferred income tax 3,395 525
Stock-based compensation expense 1,118 884
Tax benefit from equity compensation plans (509) (499)
Amortization of premium on marketable securities 318 93
Unrealized loss (gain) on deferred compensation fund investments 278 (365)
Changes in operating assets and liabilities:    
Accounts and notes receivable (22,899) (11,746)
Prepaid income taxes (915) 912
Inventories and supplies (1,619) 44
Prepaid expenses and other assets (3,277) (1,235)
Deferred compensation funding (268) 451
Accounts payable and other accrued expenses (4,100) (2,351)
Accrued payroll, accrued and withheld payroll taxes 18,070 (21,002)
Accrued insurance claims 1,009 2,979
Deferred compensation liability 100 76
Income taxes payable (2,703) 6,678
Net cash provided by (used in) operating activities 9,689 (6,204)
Cash flows from investing activities:    
Disposals of fixed assets 114 41
Additions to property and equipment (1,459) (1,436)
Purchases of marketable securities (4,966) (989)
Sales of marketable securities 2,640 846
Net cash used in investing activities (3,671) (1,538)
Cash flows from financing activities:    
Dividends paid (13,158) (12,655)
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan 28 26
Tax benefit from equity compensation plans 509 499
Proceeds from the exercise of stock options 2,534 2,884
Net cash used in financing activities (10,087) (9,246)
Net change in cash and cash equivalents (4,069) (16,988)
Cash and cash equivalents at beginning of the period 33,189 75,280
Cash and cash equivalents at end of the period 29,120 58,292
Supplementary Cash Flow Information:    
Cash paid for interest 155 22
Cash paid for income taxes, net of refunds $ 11,201 $ 1,424