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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 20,688 $ 19,928
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization of property and equipment 11,904 11,293
Amortization of intangible assets 2,767 578
Stock-based compensation expense 1,624 1,487
Deferred income taxes (1) (47)
Gain on sale of property and equipment (748) (683)
Other non-cash items 886 529
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable, net 2,902 12,592
Contract assets, net (5,745) (6,991)
Receivable for insurance claims in excess of deductibles 1,531 802
Other assets 281 15,314
Accounts payable 15,613 29,198
Contract liabilities (4,470) (18,087)
Accrued self-insurance (352) (285)
Other liabilities (25,413) (6,238)
Net cash flows provided by operating activities 21,467 59,390
Cash flows from investing activities:    
Proceeds from sale of property and equipment 1,027 651
Cash paid for acquired business, net of cash acquired (110,576) 0
Purchases of property and equipment (14,037) (7,031)
Net cash flows used in investing activities (123,586) (6,380)
Cash flows from financing activities:    
Net borrowings under revolving lines of credit 45,193 0
Payment of principal obligations under finance leases (437) (273)
Proceeds from exercise of stock options 4 110
Payments related to tax withholding for stock-based compensation (6,791) (2,618)
Other financing activities 0 12
Net cash flows provided by (used in) financing activities 37,969 (2,769)
Effect of exchange rate changes on cash 790 160
Net increase (decrease) in cash and cash equivalents (63,360) 50,401
Cash and cash equivalents:    
Beginning of period 82,092 22,668
End of period $ 18,732 $ 73,069