XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Cash Flows [Abstract]    
Net income $ 9,356 $ 7,084
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,216 3,847
Provision for losses on accounts receivable 459 389
Stock-based compensation expense 1,100 836
Deferred income tax (benefit) expense 207 162
Amortization of deferred financing costs 208 203
Amortization of capitalized commissions on preneed contracts 149 0
Accretion of discount on convertible subordinated notes 1,160 1,037
Net loss on sale and disposal of other assets 19 155
Changes in operating assets and liabilities that provided (required) cash:    
Accounts and preneed receivables (533) 303
Inventories and other current assets 429 1,976
Intangible and other non-current assets (85) 80
Preneed funeral and cemetery trust investments 3,886 (1,404)
Accounts payable 727 (2,778)
Accrued and other liabilities (3,009) (6,142)
Deferred preneed funeral and cemetery revenue 1,346 1,308
Deferred preneed funeral and cemetery receipts held in trust (4,752) 1,103
Net cash provided by operating activities 14,883 8,159
Cash flows from investing activities:    
Capital expenditures (2,065) (3,730)
Net cash used in investing activities (2,065) (3,730)
Cash flows from financing activities:    
Borrowings from the revolving credit facility 3,700 18,800
Payments against the revolving credit facility (11,500) (21,400)
Payments against the term loan (3,750) (2,813)
Payments on other long-term debt and obligations under capital leases (428) (368)
Payments on contingent consideration recorded at acquisition date (138) (101)
Proceeds from the exercise of stock options and employee stock purchase plan contributions 626 315
Taxes paid on restricted stock vestings and exercise of non-qualified options (294) (509)
Dividends paid on common stock (1,207) (833)
Net cash used in financing activities (12,991) (6,909)
Net decrease in cash and cash equivalents (173) $ (2,480)
Cash and cash equivalents at beginning of period 952  
Cash and cash equivalents at end of period $ 779