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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 97,239 $ 68,159 $ 54,748
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization of property and equipment 41,339 38,862 33,306
Amortization of operating lease right-of-use assets 18,122 15,691 0
Amortization of intangibles 28,535 24,510 25,419
Amortization of deferred financing costs and debt discount 1,332 1,184 1,164
Provision for credit losses 4,444 4,312 2,630
Write-off of debt issuance costs 0 3,725 1,164
Gain on sale of property and equipment (786) (140) (1,098)
Noncash stock compensation 10,826 8,727 7,839
Deferred income taxes (8,475) 5,341 470
Amortization of terminated interest rate swap 1,326 0 0
Changes in assets and liabilities, excluding effects of acquisitions      
Accounts receivable (10,489) (29,582) (30,166)
Inventories 187 (10,597) (15,717)
Other assets (870) (16,959) (4,552)
Accounts payable (203) 947 8,146
Income taxes receivable/payable 4,296 (3,944) 10,273
Other liabilities (6,034) 12,831 3,007
Net cash provided by operating activities 180,789 123,067 96,633
Cash flows from investing activities      
Purchases of investments (776) (52,795) (22,818)
Maturities of short term investments 38,693 25,061 42,782
Purchases of property and equipment (33,587) (50,167) (35,232)
Acquisitions of businesses, net of cash acquired of $0, $334 and $0 in 2020, 2019 and 2018, respectively (76,446) (51,706) (57,740)
Proceeds from sale of property and equipment 1,187 761 1,958
Other (6,865) (2,887) (3,019)
Net cash used in investing activities (77,794) (131,733) (74,069)
Cash flows from financing activities      
Proceeds from senior notes (Note 8) 0 300,000 0
Proceeds from term loan (Note 8) 0 0 100,000
Payments on term loan (Note 8) 0 (195,750) (2,750)
Proceeds from vehicle and equipment notes payable 21,290 33,090 25,443
Debt issuance costs (157) (6,691) (1,992)
Principal payments on long-term debt (26,685) (21,316) (14,130)
Principal payments on finance lease obligations (2,632) (4,157) (5,604)
Acquisition-related obligations (6,283) (6,732) (3,954)
Repurchase of common stock (33,924) 0 (89,363)
Surrender of common stock awards by employees (973) (2,331) (2,282)
Net cash (used in) provided by financing activities (49,364) 96,113 5,368
Net change in cash and cash equivalents 53,631 87,447 27,932
Cash and cash equivalents at beginning of period 177,889 90,442 62,510
Cash and cash equivalents at end of period 231,520 177,889 90,442
Supplemental disclosures of cash flow information      
Interest 26,324 20,943 20,075
Income taxes, net of refunds 37,072 22,633 4,950
Supplemental disclosure of noncash activities      
Right-of-use assets obtained in exchange for operating lease obligations 26,001 18,907 0
Termination of operating lease obligations and right-of-use assets 0 (2,946) 0
Property and equipment obtained in exchange for finance lease obligations 1,000 2,809 2,208
Seller obligations in connection with acquisition of businesses 14,086 7,543 7,540
Unpaid purchases of property and equipment included in accounts payable $ 1,013 $ 1,903 $ 1,773