v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income $ 41,433 $ 27,676
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 4,999 5,133
Amortization of operating lease right of use asset 8,918 8,512
Stock-based compensation expense 3,513 3,680
Deferred income taxes 7,717 4,367
Amortization of operating leases 0 (13)
Loss on disposal of assets 31 47
Impairment of intangibles and other 177 0
Changes in operating assets and liabilities, net of acquisitions:    
Receivables (28,805) (67,470)
Prepaid expenses (3,980) (11,728)
Other assets 1,627 2,268
Prepaid income taxes 0 (4,537)
Accounts payable and accrued expenses (2,894) (11,159)
Salaries, wages, and benefits payable 20,451 24,826
Operating lease liabilities (8,925) (8,415)
Income taxes payable 1,119 2,298
Net amounts due to/from governmental entities (575) 51
Net cash provided by (used in) operating activities 44,806 (24,464)
Investing activities:    
Purchases of property, building and equipment (4,849) (13,502)
Proceeds from sale of property, building and equipment 45 1,149
Cash received (paid) for acquisitions 0 3,125
Proceeds from sale of an entity 200 0
Net cash used in investing activities (4,604) (9,228)
Financing activities:    
Proceeds from line of credit 0 188,728
Payments on line of credit (20,000) (143,657)
Proceeds from employee stock purchase plan 649 610
Noncontrolling interest distributions (5,704) (4,874)
Withholding taxes paid on stock-based compensation (9,541) (7,064)
Purchase of additional controlling interest (142) (23,575)
Exercise of vested awards and stock options 0 160
Sale of noncontrolling interest 284 0
Net cash (used in) provided by financing activities (34,454) 10,328
Change in cash 5,748 (23,364)
Cash at beginning of period 286,569 31,672
Cash at end of period 292,317 8,308
Supplemental disclosures of cash flow information:    
Interest paid 495 2,830
Income taxes paid 621 1,269
Non-Cash Operating Activity:    
Operating right of use assets in exchange for lease obligations 11,748 9,041
Non-Cash Investing Activity:    
Accrued capital expenditures $ 1,973 $ 2,226

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