XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 38,272 $ 30,347
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 24,567 20,732
Amortization of intangibles 19,678 19,790
Amortization of deferred financing costs and debt discount 883 768
Provision for doubtful accounts 2,219 2,208
Write-off of debt issuance costs 1,164 1,201
Gain on sale of property and equipment (551) (329)
Noncash stock compensation 6,089 4,750
Changes in assets and liabilities, excluding effects of acquisitions    
Accounts receivable (35,953) (24,636)
Inventories (6,799) 68
Other assets (801) 695
Accounts payable 7,523 2,665
Income taxes receivable / payable 10,542 (10,167)
Other liabilities 2,016 5,249
Net cash provided by operating activities 68,849 53,341
Cash flows from investing activities    
Purchases of investments (22,818) (25,195)
Maturities of short term investments 37,500  
Purchases of property and equipment (27,051) (22,947)
Acquisitions of businesses, net of cash acquired of $0 and $247, respectively (34,682) (130,994)
Proceeds from sale of property and equipment 1,106 682
Other (1,590) (1,845)
Net cash used in investing activities (47,535) (180,299)
Cash flows from financing activities    
Proceeds from term loan under credit agreement applicable to respective period (Note 6) 100,000 300,000
Payments on term loan under credit agreement applicable to respective period (Note 6) (750) (97,000)
Proceeds from delayed draw term loan under credit agreement applicable to respective period (Note 6)   112,500
Payments on delayed draw term loan under credit agreement applicable to respective period (Note 6)   (125,000)
Proceeds from vehicle and equipment notes payable 20,657 15,817
Debt issuance costs (1,992) (8,175)
Principal payments on long-term debt (10,324) (7,201)
Principal payments on capital lease obligations (4,316) (5,583)
Acquisition-related obligations (2,901) (3,434)
Repurchase of common stock (42,827)  
Surrender of common stock awards by employees (2,282) (550)
Purchase of remaining interest in subsidiary   (1,890)
Net cash provided by financing activities 55,265 179,484
Net change in cash and cash equivalents 76,579 52,526
Cash and cash equivalents at beginning of period 62,510 14,482
Cash and cash equivalents at end of period 139,089 67,008
Supplemental disclosures of cash flow information Net cash paid during the period for:    
Interest 14,110 9,733
Income taxes, net of refunds 1,902 26,292
Supplemental disclosure of noncash investing and financing activities    
Common stock issued for acquisition of business   10,859
Vehicles capitalized under capital leases and related lease obligations 1,034 4,073
Seller obligations in connection with acquisition of businesses 5,420 3,759
Unpaid purchases of property and equipment included in accounts payable $ 615 $ 1,108