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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 70,887 $ 78,299 $ 70,714
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on sale of operations, net of tax (5,995) 509 (417)
Depreciation and amortization expense 27,078 23,139 22,345
Bad debt expense, net of recoveries 3,054 4,409 2,415
Adjustment to contingent earnout liability, net 2,367 (629) 1,599
Deferred income taxes 9,234 (770) 9,695
Stock-based compensation expense 11,407 8,869 7,254
Other, net (126) 485 1,077
Changes in assets and liabilities, net of acquisitions and divestitures:      
Accounts receivable, net (17,040) 6,714 (15,529)
Other assets 3,474 1,472 907
Accounts payable 3,312 (8,800) 9,829
Income taxes payable (4,108) (236) (5,460)
Accrued personnel costs 24,525 19,788 (4,093)
Other liabilities 3,109 13,667 (1,813)
Net cash provided by continuing operations 131,178 146,916 98,523
Operating cash flows used in discontinued operations (24) (71) (338)
Net cash provided by operating activities 131,154 146,845 98,185
Cash flows from investing activities:      
Business acquisitions and purchases of client lists, net of cash acquired (66,734) (71,430) (11,744)
Purchases of client fund investments (26,980) (3,447) (27,216)
Proceeds from the sales and maturities of client fund investments 14,877 37,487 23,958
Proceeds from sales of divested operations 9,710 711 3
Additions to property and equipment (8,984) (11,576) (13,873)
Other, net (3,899) 1,849 1,187
Net cash used in investing activities (82,010) (46,406) (27,685)
Cash flows from financing activities:      
Proceeds from bank debt 852,100 592,354 648,648
Payment of bank debt (804,800) (589,854) (678,648)
Payment for acquisition of treasury stock (100,487) (58,536) (27,163)
Changes in client funds obligations (8,874) (13,747) 10,069
Payment of contingent consideration of acquisitions (14,084) (12,859) (17,457)
Proceeds from exercise of stock options 7,311 6,486 10,608
Other, net (171) (453) (606)
Net cash used in financing activities (69,005) (76,609) (54,549)
Net increase (decrease) in cash, cash equivalents and restricted cash (19,861) 23,830 15,951
Cash, cash equivalents and restricted cash at beginning of year 170,335 146,505 130,554
Cash, cash equivalents and restricted cash at end of year 150,474 170,335 146,505
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets      
Cash and cash equivalents 1,997 4,652 567
Restricted cash 30,383 23,951 29,595
Cash equivalents included in funds held for clients 118,094 141,732 116,343
Cash, cash equivalents and restricted cash at end of year 150,474 170,335 146,505
Supplemental disclosures of cash flow information:      
Cash paid for interest 3,350 4,739 5,556
Cash paid for income taxes, net of income tax refunds $ 16,998 $ 25,939 $ 17,497