XML 20 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 80,353 $ 68,960
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,188 19,657
Amortization of deferred financing fees 266 266
Non-cash leasing arrangement 208 195
Impairment of long-lived assets 0 1,849
Deferred income taxes 0 638
Provision for doubtful accounts 438 378
Stock-based compensation 10,724 8,238
Cash received from insurance proceeds 0 199
Loss (gain) on insurance claims and asset disposals 420 (171)
Change in operating assets and liabilities    
Accounts receivable (14,589) (34,964)
Prepaid income taxes 13,057 3,830
Prepaid expenses and other assets (9,360) (11,388)
Cash surrender value of life insurance policy premiums (7,489) (9,678)
Deferred compensation liability 7,441 9,059
Operating lease obligations (102) 606
Accounts payable (3,521) (10,376)
Accrued wages and related liabilities (60,021) (38,978)
Income taxes payable 13,219 16,173
Other accrued liabilities 8,278 (3,236)
Accrued self-insurance liabilities 8,710 14,055
NET CASH PROVIDED BY OPERATING ACTIVITIES 72,220 35,312
Cash flows from investing activities:    
Purchase of property and equipment (42,926) (29,437)
Cash payments for acquisitions (159,172) (2,437)
Escrow deposits (35,069) (486)
Cash from insurance proceeds and the sale of assets 1,494 536
Purchases of investments (25,984) (12,815)
Maturities of investments 17,862 10,284
Other restricted assets (9) (300)
NET CASH USED IN INVESTING ACTIVITIES (243,804) (34,655)
Cash flows from financing activities:    
Payments on debt (1,009) (975)
Issuance of common stock upon exercise of options 5,050 6,229
Repurchase of shares of common stock to satisfy tax withholding obligations (14) (14)
Repurchase of shares of common stock (10,775) 0
Dividends paid (3,589) (3,396)
Non-controlling interest distribution 0 (278)
Purchase of non-controlling interest (11) (10)
NET CASH (USED IN)/PROVIDED BY IN FINANCING ACTIVITIES (10,348) 1,556
Net (decrease) increase in cash and cash equivalents (181,932) 2,213
Cash and cash equivalents beginning of period 464,598 509,626
Cash and cash equivalents end of period 282,666 511,839
Cash paid during the period for:    
Interest 1,769 1,729
Lease liabilities 59,165 51,207
Non-cash financing and investing activity    
Accrued capital expenditures 7,800 4,800
Accrued dividends declared 3,597 3,414
Right-of-use assets obtained in exchange for new and modified operating lease obligations $ 57,961 $ 80,920