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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 27,021 $ 8,089
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 5,006 5,132
Amortization of intangible assets 8,826 8,452
Gain on sale of property and equipment 0 (246)
Provision for credit losses 314 (637)
Payment of contingent consideration liability in excess of acquisition-date fair value 0 (145)
Fair value adjustment on contingent consideration 1,689 0
Amortization of debt issuance costs 916 854
Restricted stock compensation expense 863 840
Deferred income taxes 1,610 1,068
Net change in operating assets and liabilities (40,559) (7,201)
Net cash provided by operating activities 5,686 16,206
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,848) (1,526)
Proceeds from the sale of property and equipment 0 1,297
Acquisition of business, net of cash acquired (44,117) (44,435)
Net cash used in investing activities (45,965) (44,664)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facilities 235,969 0
Payments on revolving credit facilities (206,845) 0
Principal debt payments (1,650) (1,650)
Payment for contingent consideration liability up to acquisition-date fair value 0 (955)
Preferred Stock dividends paid (45) (45)
Purchase of treasury stock (15,116) (8,769)
Payment for employee taxes withheld from stock awards (290) (585)
Net cash provided by (used in) financing activities 12,023 (12,004)
Effect of foreign currency on cash (159) 303
Net change in cash and restricted cash (28,415) (40,159)
Cash and restricted cash at beginning of period 49,080 119,419
Cash and restricted cash at end of period 20,665 79,260
Supplemental schedule of non-cash investing and financing activities:    
Shares issued for acquisitions (Note 13) 4,744 8,859
Share repurchase agreement $ 0 $ 20,405