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New Accounting Pronouncements (Tables) | 9 Months Ended
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Sep. 30, 2018
Accounting Changes And Error Corrections [Abstract] |
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash Reported Accompanying Consolidated Balance Sheets | The following table provides a reconciliation of cash, cash equivalents and restricted cash as reported in the accompanying Consolidated Balance Sheets that sum to the total of the same such amount shown in the accompanying Consolidated Statements of Cash Flows (in thousands):
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |
Cash and cash equivalents |  | $ | 3,493 |  |  | $ | 1,278 |
Restricted cash |  |  | 32,551 |  |  |  | 32,104 |
Total cash, cash equivalents and restricted cash |  | $ | 36,044 |  |  | $ | 33,382 |
Summary of Impact of Adopting New Accounting Standards on Consolidated Financial Statements | The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet was as follows (in thousands):
|  | Balance at |  |  | Adjustments |  |  | Balance at |
|  | December 31, |  |  | due to |  |  | January 1, |
Balance Sheet |  | 2017 |  |  | Topic 606 |  |  | 2018 |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 188,300 |  |  | $ | 9,446 |  |  | $ | 197,746 |
Other current assets |  |  | 259,873 |  |  |  | 80 |  |  |  | 259,953 |
Other non-current assets |  |  | 728,058 |  |  |  | 728 |  |  |  | 728,786 |
Total assets |  | $ | 1,176,231 |  |  | $ | 10,254 |  |  | $ | 1,186,485 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 51,375 |  |  |  | 6,281 |  |  |  | 57,656 |
Accrued personnel costs |  |  | 45,264 |  |  |  | 595 |  |  |  | 45,859 |
Other current liabilities |  |  | 237,607 |  |  |  | 113 |  |  |  | 237,720 |
Deferred income taxes, net |  |  | 3,339 |  |  |  | 631 |  |  |  | 3,970 |
Other non-current liabilities |  |  | 307,767 |  |  |  | 1,012 |  |  |  | 308,779 |
Total liabilities |  |  | 645,352 |  |  |  | 8,632 |  |  |  | 653,984 |
STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 345,302 |  |  |  | 1,622 |  |  |  | 346,924 |
Other stockholders' equity |  |  | 185,577 |  |  |  | — |  |  |  | 185,577 |
Total stockholders' equity |  |  | 530,879 |  |  |  | 1,622 |  |  |  | 532,501 |
Total liabilities and stockholders' equity |  | $ | 1,176,231 |  |  | $ | 10,254 |  |  | $ | 1,186,485 |
The following tables summarize the impact of adopting Topic 606 on our consolidated financial statements for the periods indicated below (in thousands):
|  |  |  |  |  |  |  |  |  | Balances without |
September 30, 2018 Balance Sheet |  | As reported |  |  | Adjustments |  |  | adoption of Topic 606 |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 234,906 |  |  | $ | (15,097 | ) |  | $ | 219,809 |
Other current assets |  |  | 188,931 |  |  |  | (80 | ) |  |  | 188,851 |
Other non-current assets |  |  | 766,019 |  |  |  | (667 | ) |  |  | 765,352 |
Total assets |  | $ | 1,189,856 |  |  | $ | (15,844 | ) |  | $ | 1,174,012 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 57,764 |  |  | $ | (10,276 | ) |  | $ | 47,488 |
Accrued personnel costs |  |  | 55,038 |  |  |  | (575 | ) |  |  | 54,463 |
Other current liabilities |  |  | 168,995 |  |  |  | (114 | ) |  |  | 168,881 |
Deferred income taxes, net |  |  | 5,636 |  |  |  | (1,038 | ) |  |  | 4,598 |
Other non-current liabilities |  |  | 300,508 |  |  |  | (925 | ) |  |  | 299,583 |
Total liabilities |  |  | 587,941 |  |  |  | (12,928 | ) |  |  | 575,013 |
STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 409,467 |  |  |  | (2,916 | ) |  |  | 406,551 |
Other stockholders' equity |  |  | 192,448 |  |  |  | — |  |  |  | 192,448 |
Total shareholders' equity |  |  | 601,915 |  |  |  | (2,916 | ) |  |  | 598,999 |
Total liabilities and stockholders' equity |  | $ | 1,189,856 |  |  | $ | (15,844 | ) |  | $ | 1,174,012 |
|  |  |  |  |  |  |  |  |  | Balances without |
Three Months Ended September 30, 2018 Income Statement |  | As reported |  |  | Adjustments |  |  | adoption of Topic 606 |
Revenue |  | $ | 224,249 |  |  | $ | (763 | ) |  | $ | 223,486 |
Operating expenses |  |  | 198,607 |  |  |  | (14 | ) |  |  | 198,593 |
Gross margin |  |  | 25,642 |  |  |  | (749 | ) |  |  | 24,893 |
Corporate general and administrative expenses |  |  | 10,279 |  |  |  | - |  |  |  | 10,279 |
Operating income |  |  | 15,363 |  |  |  | (749 | ) |  |  | 14,614 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (1,614 | ) |  |  | — |  |  |  | (1,614 | )
Gain on sale of operations, net |  |  | — |  |  |  | — |  |  |  | — |
Other income, net |  |  | 3,143 |  |  |  | — |  |  |  | 3,143 |
Total other expense, net |  |  | 1,529 |  |  |  | — |  |  |  | 1,529 |
Income from continuing operations before income tax expense |  |  | 16,892 |  |  |  | (749 | ) |  |  | 16,143 |
Income tax expense |  |  | 3,297 |  |  |  | (168 | ) |  |  | 3,129 |
Income from continuing operations |  |  | 13,595 |  |  |  | (581 | ) |  |  | 13,014 |
Loss from discontinued operations, net of tax |  |  | (9 | ) |  |  | — |  |  |  | (9 | )
Net income |  | $ | 13,586 |  |  | $ | (581 | ) |  | $ | 13,005 |
|  |  |  |  |  |  |  |  |  | Balances without |
Nine Months Ended September 30, 2018 Income Statement |  | As reported |  |  | Adjustments |  |  | adoption of Topic 606 |
Revenue |  | $ | 722,980 |  |  | $ | (1,744 | ) |  | $ | 721,236 |
Operating expenses |  |  | 608,459 |  |  |  | (43 | ) |  |  | 608,416 |
Gross margin |  |  | 114,521 |  |  |  | (1,701 | ) |  |  | 112,820 |
Corporate general and administrative expenses |  |  | 30,300 |  |  |  | — |  |  |  | 30,300 |
Operating income |  |  | 84,221 |  |  |  | (1,701 | ) |  |  | 82,520 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (5,211 | ) |  |  | — |  |  |  | (5,211 | )
Gain on sale of operations, net |  |  | 663 |  |  |  | — |  |  |  | 663 |
Other income, net |  |  | 2,544 |  |  |  | — |  |  |  | 2,544 |
Total other expense, net |  |  | (2,004 | ) |  |  | — |  |  |  | (2,004 | )
Income from continuing operations before income tax expense |  |  | 82,217 |  |  |  | (1,701 | ) |  |  | 80,516 |
Income tax expense |  |  | 19,691 |  |  |  | (407 | ) |  |  | 19,284 |
Income from continuing operations |  |  | 62,526 |  |  |  | (1,294 | ) |  |  | 61,232 |
Gain from discontinued operations, net of tax |  |  | 17 |  |  |  | - |  |  |  | 17 |
Net income |  | $ | 62,543 |  |  | $ | (1,294 | ) |  | $ | 61,249 |
|  |  |  |  |  |  |  |  |  | Balances without |
Nine Months Ended September 30, 2018 Cash Flow Statement |  | As reported |  |  | Adjustments |  |  | adoption of Topic 606 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 62,543 |  |  | $ | (1,294 | ) |  | $ | 61,249 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  | 27,884 |  |  |  | — |  |  |  | 27,884 |
Changes in assets and liabilities, net of acquisitions and divestitures: |  |  |  |  |  |  |  |  |  |  | — |
Accounts receivable, net |  |  | (38,937 | ) |  |  | 5,651 |  |  |  | (33,286 | )
Other assets |  |  | (3,474 | ) |  |  | (61 | ) |  |  | (3,535 | )
Accounts payable |  |  | 108 |  |  |  | (3,995 | ) |  |  | (3,887 | )
Accrued personnel costs |  |  | 8,986 |  |  |  | 20 |  |  |  | 9,006 |
Other liabilities |  |  | (3,134 | ) |  |  | (321 | ) |  |  | (3,455 | )
Other |  |  | 9,458 |  |  |  | — |  |  |  | 9,458 |
Operating cash flows provide by continuing operations |  |  | 63,434 |  |  |  | — |  |  |  | 63,434 |
Operating cash flows used in discontinued operations |  |  | (162 | ) |  |  | — |  |  |  | (162 | )
Net cash provided by operating activities |  |  | 63,272 |  |  |  | — |  |  |  | 63,272 |
Net provided by investing activities |  |  | 42,201 |  |  |  | — |  |  |  | 42,201 |
Net cash used in financing activities |  |  | (102,838 | ) |  |  | — |  |  |  | (102,838 | )
Net increase in cash, cash equivalents and restricted cash |  |  | 2,635 |  |  |  | — |  |  |  | 2,635 |
Cash, cash equivalents and restricted cash at beginning of year |  |  | 33,409 |  |  |  | — |  |  |  | 33,409 |
Cash, cash equivalents and restricted cash at end of period |  | $ | 36,044 |  |  |  | — |  |  | $ | 36,044 |

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