Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 137,933 $ 113,852 $ 78,923
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 21,249 18,254 16,362
Amortization and impairment of operating lease right of use asset 34,546 33,368 0
Stock-based compensation expense 14,347 9,646 9,358
Deferred income taxes (13,261) 18,400 19,453
Loss on disposal of assets 412 802 319
Impairment of intangibles and other 1,849 7,734 4,370
Changes in operating assets and liabilities, net of acquisitions:      
Receivables (16,561) (38,907) (362)
Prepaid expenses (754) 3,530 (6,465)
Other assets (3,169) (2,923) (3,792)
Prepaid income taxes 9,652 (78) (2,519)
Accounts payable and accrued expenses (22,506) (457) (9,988)
Salaries, wages, and benefits payable and self-insurance reserves 6,482 (2,625) 3,411
Other long term liabilities 51,856 0 0
Contract liabilities - deferred revenue 317,962 0 0
Operating lease payable (34,226) (28,062) 0
Income tax payable 23,800 (431) 511
Net amounts due to/from governmental entities (364) (1,641) (996)
Net cash provided by operating activities 529,247 130,462 108,585
Investing activities:      
Cash paid for acquisitions, net of cash acquired (24,545) (74,293) 7,702
Proceeds from sale of assets 7,920 0 0
Government stimulus advance 93,257 0 0
Purchases of property, building and equipment (65,875) (33,609) (32,993)
Net cash used in investing activities (82,500) (107,902) (25,291)
Financing activities:      
Proceeds from line of credit 296,229 267,000 303,943
Payments on line of credit (529,229) (249,000) (319,743)
Proceeds from employee stock purchase plan 2,177 2,066 1,342
Payments on debt 0 (7,650) (4,975)
Payments on deferred financing fees 0 0 (1,884)
Noncontrolling interest distributions (24,837) (24,082) (12,134)
Purchase of additional controlling interest (24,295) (19,663) (412)
Sale of noncontrolling interest 4,856 756 4,208
Withholding taxes paid on stock-based compensation (10,008) (10,687) (7,125)
Exercise of options 0 1,009 0
Net cash (used in) provided by financing activities (191,850) (40,251) (36,780)
Change in cash 254,897 (17,691) 46,514
Cash at beginning of period 31,672 49,363 2,849
Cash at end of period 286,569 31,672 49,363
Supplemental disclosures of cash flow information      
Interest paid 5,011 11,015 9,067
Income taxes paid 16,830 10,109 5,703
Non-Cash Operating activity:      
Operating right of use assets in exchange for lease obligations 43,047 129,290 0
Non-Cash Investing activity:      
Accrued capital expenditures 2,922 2,729 3,449
Consideration transferred for a business combination 0 0 795,412
Non-Cash Financing activity:      
Purchase of additional controlling interest 0 0 7,705
Contribution of noncontrolling interest $ 230 $ 0 $ 0