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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income $ 47,186 $ 45,534
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 85,189 79,967
Amortization of intangibles 2,942 3,365
Pension settlement expense, including termination expense 89 8,135
Share-based compensation expense 7,956 7,268
Provision for losses on accounts receivable 2,170 832
Change in deferred income taxes 2,831 14,099
Gain on sale of property and equipment and lease termination (3,280) (1,384)
Changes in operating assets and liabilities:    
Receivables (38,905) 4,216
Prepaid expenses 809 (265)
Other assets 3,918 (4,236)
Income taxes 3,065 (7,883)
Operating right-of-use assets and lease liabilities, net 234 526
Accounts payable, accrued expenses, and other liabilities 37,062 (12,161)
NET CASH PROVIDED BY OPERATING ACTIVITIES 151,266 138,013
INVESTING ACTIVITIES    
Purchases of property, plant and equipment, net of financings (20,146) (69,773)
Proceeds from sale of property and equipment 8,943 4,748
Purchases of short-term investments (159,253) (105,747)
Proceeds from sale of short-term investments 192,563 88,730
Capitalization of internally developed software (9,568) (8,500)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 12,539 (90,542)
FINANCING ACTIVITIES    
Borrowings under credit facilities 180,000  
Borrowings under accounts receivable securitization program 45,000  
Proceeds from notes payable   9,552
Payments on long-term debt (309,640) (43,773)
Net change in book overdrafts 349 (5,570)
Deferred financing costs   (562)
Payment of common stock dividends (6,122) (6,145)
Purchases of treasury stock (5,667) (6,115)
Payments for tax withheld on share-based compensation (1,989) (1,206)
NET CASH USED IN FINANCING ACTIVITIES (98,069) (53,819)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 65,736 (6,348)
Cash and cash equivalent at beginning of period 201,909 190,186
CASH AND CASH EQUIVALENTS CASH AT END OF PERIOD 267,645 183,838
NONCASH INVESTING ACTIVITIES    
Equipment financed 53,045 40,966
Accruals for equipment received 2,146 18,949
Lease liabilities arising from obtaining right-of-use assets $ 60,535 $ 26,810