XML 15 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 43,291 $ 27,342
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,146 6,997
Bad debt provision 5,921 21,465
Deferred income tax benefit (3,923) (18)
Share-based compensation expense 3,925 3,659
Amortization of premium on marketable securities 950 712
Unrealized gain on deferred compensation fund investments (961) (5,041)
Changes in operating assets and liabilities:    
Accounts and notes receivable 2,635 (25,305)
Inventories and supplies 2,840 1,305
Prepaid expenses and other assets (3,931) (2,847)
Deferred compensation funding 990 89
Accounts payable and other accrued expenses (964) (8,824)
Accrued payroll, accrued and withheld payroll taxes 16,104 (2,678)
Income taxes payable 12,847 (7,140)
Accrued insurance claims 5,396 5,423
Deferred compensation liability 117 5,200
Net cash provided by operating activities 92,383 20,339
Cash flows from investing activities:    
Disposals of fixed assets 307 87
Additions to property and equipment (1,835) (2,496)
Purchases of marketable securities (6,939) (8,234)
Sales of marketable securities 5,779 7,145
Net cash used in investing activities (2,688) (3,498)
Cash flows from financing activities:    
Dividends paid (30,161) (29,276)
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan 45 46
Proceeds from the exercise of stock options 1,862 3,099
Repayments of short-term borrowings (10,000) 0
Payments of statutory withholding on net issuance of restricted stock units (661) (579)
Net cash used in financing activities (38,915) (26,710)
Net change in cash and cash equivalents 50,780 (9,869)
Cash and cash equivalents at beginning of the period 27,329 26,025
Cash and cash equivalents at end of the period $ 78,109 $ 16,156