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Consolidated Statement of Cash Flows Statement - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net Income $ 13,060 $ 13,120
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:    
Loss on dispositions of assets 20 50
Depreciation 7,850 6,660
Amortization of intangible assets 5,390 4,850
Amortization of debt issue costs 300 290
Deferred income taxes 2,200 2,570
Non-cash compensation expense 2,440 1,940
Debt financing and related expenses 200 0
Increase in receivables (15,640) (10,610)
Increase in inventories (3,110) (110)
Increase in prepaid expenses and other assets (2,070) (110)
Increase (decrease) in accounts payable and accrued liabilities 1,950 (14,780)
Other operating activities 3,150 (470)
Net cash provided by operating activities, net of acquisition impact 15,740 3,400
Cash Flows from Investing Activities:    
Capital expenditures (9,370) (3,930)
Acquisition of businesses, net of cash acquired 0 (84,270)
Net proceeds from disposition of business, property and equipment 0 1,880
Net cash used for investing activities (9,370) (86,320)
Cash Flows from Financing Activities:    
Proceeds from issuance of senior notes 400,000 0
Proceeds from borrowings on revolving credit facilities 0 198,290
Repayments of borrowings on revolving credit facilities (48,620) (48,330)
Debt financing fees (6,150) 0
Shares surrendered upon exercise and vesting of equity awards to cover taxes (1,770) (1,830)
Payments to purchase common stock (2,640) (31,570)
Net cash provided by financing activities 340,820 116,560
Increase for the period 347,190 33,640
At beginning of period 73,950 172,470
At end of period 421,140 206,110
Supplemental disclosure of cash flow information:    
Cash paid for interest 520 370
Cash paid for taxes $ 1,160 $ 1,850