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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 36,054 $ 35,740
Reconciliations of net income to net cash used in operating activities:    
Depreciation and amortization 5,273 4,585
Non-cash lease expense 5,270 5,236
Investment amortization and losses recognized 543 915
Share-based compensation 6,027 5,489
Changes in certain operating assets and liabilities:    
Trade accounts receivable (41,379) (38,830)
Income taxes 176 899
Prepaid expenses and other 2,651 (2,561)
Accounts payable (2,996) 68
Accrued payroll, payroll taxes and related benefits 25,801 33,093
Other accrued liabilities (5,867) 1,769
Premium payable 23,234 9,978
Workers' compensation claims liabilities (38,693) (52,937)
Safety incentives liability (580) (1,817)
Operating lease liabilities (5,274) (5,005)
Other assets and liabilities, net (241) 319
Net cash provided by (used in) operating activities 9,999 (3,059)
Cash flows from investing activities:    
Purchase of property, equipment and software (8,115) (11,458)
Proceeds from sale of property 117  
Purchase of investments (4,386)  
Proceeds from sales and maturities of investments 805 12,828
Purchase of restricted investments (20,943) (3,644)
Proceeds from sales and maturities of restricted investments 14,975 44,746
Net cash (used in) provided by investing activities (17,547) 42,472
Cash flows from financing activities:    
Payments on long-term debt   (3,510)
Repurchases of common stock (29,092) (39,052)
Common stock repurchased on vesting of stock awards (2,899) (1,621)
Dividends paid (6,105) (6,552)
Proceeds from exercise of stock options 702 711
Net cash used in financing activities (37,394) (50,024)
Net decrease in cash, cash equivalents and restricted cash (44,942) (10,611)
Cash, cash equivalents and restricted cash, beginning of period 107,378 78,629
Cash, cash equivalents and restricted cash, end of period $ 62,436 $ 68,018