XML 68 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 24,443 $ 54,658
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 43,452 37,126
Amortization of intangible assets 5,082 5,632
Gain on sale of property and equipment (901) (956)
Income from non-consolidated entities   (5,264)
Stock-based compensation expense 787 671
Changes in assets and liabilities:    
Customer retention deposits and restricted cash (1,583) 4,893
Accounts receivable (45,968) (80,658)
Costs and estimated earnings in excess of billings (47,561) (39,004)
Other current assets (5,453) (5,787)
Accounts payable 4,669 30,247
Billings in excess of costs and estimated earnings (14,657) (8,937)
Contingent earnout liabilities (5,271) (4,358)
Accrued expenses and other current liabilities 31,712 9,301
Other long-term assets (2,385) 283
Other long-term liabilities (3,067)  
Net cash used in operating activities (16,701) (2,153)
Cash flows from investing activities:    
Purchase of property and equipment (52,440) (64,540)
Proceeds from sale of property and equipment 6,139 3,848
Purchase of short-term investments   (3,525)
Sale of short-term investments 30,992 20,131
Cash received for the sale of Alvah   6,439
Cash paid for acquisitions (22,302) (14,595)
Net cash used in investing activities (37,611) (52,242)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 42,328 39,700
Repayment of capital leases (1,086) (2,778)
Repayment of long-term debt (31,597) (26,345)
Proceeds from issuance of common stock purchased under a long-term incentive plan 1,621 1,671
Dividends paid (6,966) (5,421)
Cash distribution to non-controlling interest holder (29) (1,515)
Repurchase of common stock   (2,844)
Net cash provided by financing activities 4,271 2,468
Net change in cash and cash equivalents (50,041) (51,927)
Cash and cash equivalents at beginning of the period 139,465 196,077
Cash and cash equivalents at end of the period 89,424 144,150
Cash paid during the period for:    
Interest 5,652 5,215
Income taxes, net of refunds received 10,527 35,484
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared and not yet paid $ 2,842 $ 2,062