XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 68,558 $ 64,246
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,994 35,152
Amortization of deferred loan costs   307
Stock-based compensation - stock options 5,589 4,896
Provision for bad debts 234 145
Loss on disposition of assets 268 88
Non-cash operating lease expense 23 30
Changes in operating assets and liabilities:    
Receivables (136) (1,546)
Income taxes receivable 957 22,298
Inventories (45) 374
Prepaid expenses 1,641 609
Accounts payable (9,774) 5,118
Accrued expenses (2,399) 2,692
Net cash provided by operating activities 102,910 134,409
Cash flows from investing activities:    
Proceeds from sale of assets 73 97
Change in construction accounts payable 1,417 (2,554)
Acquisition of property and equipment (35,872) (32,164)
Net cash used in investing activities (34,382) (34,621)
Cash flows from financing activities:    
Payroll taxes from net exercise of stock options (2,013) (208)
Proceeds from exercise of stock options 4,777 1,652
Line-of-credit borrowings 45,500 68,000
Line-of-credit payments (44,000) (60,000)
Principal payments on long-term debt   (7,000)
Payment of dividends (16,742) (107,093)
Purchase of company common stock (60,031)  
Net cash used in financing activities (72,509) (104,649)
Change in cash and cash equivalents (3,981) (4,861)
Cash and cash equivalents at beginning of period 43,361 38,779
Cash and cash equivalents at end of period 39,380 33,918
Supplemental disclosure of cash flow information:    
Cash paid for interest 583 1,810
Cash paid for income taxes $ 18,740 $ 20,306