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Consolidated Statement of Cash Flows Statement - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 14,170 $ 13,060
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:    
Loss on dispositions of assets 20 20
Depreciation 8,470 7,850
Amortization of intangible assets 5,290 5,390
Amortization of debt issue costs 220 300
Deferred income taxes 3,000 2,200
Non-cash compensation expense 2,820 2,440
Debt financing and related expenses 0 200
Increase in receivables (22,330) (15,640)
Increase in inventories (910) (3,110)
Increase in prepaid expenses and other assets (680) (2,070)
Increase (decrease) in accounts payable and accrued liabilities (5,210) 1,950
Other operating activities 810 3,150
Net cash provided by operating activities, net of acquisition impact 5,670 15,740
Cash Flows from Investing Activities:    
Capital expenditures (11,890) (9,370)
Acquisition of businesses, net of cash acquired (63,950) 0
Net proceeds from disposition of property and equipment 20 0
Net cash used for investing activities (75,820) (9,370)
Cash Flows from Financing Activities:    
Proceeds from issuance of senior notes 0 400,000
Repayments of borrowings on revolving credit facilities 0 (48,620)
Debt financing fees 0 (6,150)
Shares surrendered upon exercise and vesting of equity awards to cover taxes (970) (1,770)
Dividends paid (1,740) 0
Payments to purchase common stock (9,060) (2,640)
Net cash provided by (used for) financing activities (11,770) 340,820
Increase (decrease) for the period (81,920) 347,190
At beginning of period 140,740 73,950
At end of period 58,820 421,140
Supplemental disclosure of cash flow information:    
Cash paid for interest 310 520
Cash paid for taxes $ 620 $ 1,160