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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 172,030 $ 84,342
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 63,690 58,709
Amortization of intangibles 6,463 1,927
Share-based compensation expense 6,641 5,678
Provision for losses on accounts receivable 3,583 (334)
Change in deferred income taxes (6,371) (7,612)
Gain on sale of property and equipment (4,073) (8,408)
Gain on sale of subsidiary (402) (6,923)
Changes in operating assets and liabilities:    
Receivables (87,092) (37,745)
Prepaid expenses 7,477 1,419
Other assets 72 25
Income taxes 4,211 12,275
Operating right-of-use assets and lease liabilities, net 114 761
Accounts payable, accrued expenses, and other liabilities 18,280 41,786
NET CASH PROVIDED BY OPERATING ACTIVITIES 184,623 145,900
INVESTING ACTIVITIES    
Purchases of property, plant and equipment, net of financings (49,682) (25,395)
Proceeds from sale of property and equipment 9,115 10,864
Proceeds from sale of subsidiary 475 9,013
Purchases of short-term investments (64,330) (43,690)
Proceeds from sale of short-term investments 35,840 49,165
Capitalization of internally developed software (8,541) (9,477)
Business acquisitions, net of cash acquired 2,279  
NET CASH USED IN INVESTING ACTIVITIES (74,844) (9,520)
FINANCING ACTIVITIES    
Borrowings under credit facilities 58,000  
Proceeds from notes payable 7,280  
Payments on long-term debt (84,905) (54,643)
Net change in book overdrafts 6,085 (922)
Deferred financing costs   (189)
Payment of common stock dividends (4,927) (4,095)
Purchases of treasury stock (31,237) (8,100)
Payments for tax withheld on share-based compensation (9,637) (9,766)
NET CASH USED IN FINANCING ACTIVITIES (59,341) (77,715)
NET INCREASE IN CASH AND CASH EQUIVALENTS 50,438 58,665
Cash and cash equivalents at beginning of period 76,620 303,954
CASH AND CASH EQUIVALENTS AT END OF PERIOD 127,058 362,619
NONCASH INVESTING ACTIVITIES    
Equipment financed 19,498 8,138
Accruals for equipment received 7,574 5,984
Lease liabilities arising from obtaining right-of-use assets $ 30,210 $ 6,051