XML 18 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 4,389,196 $ 17,462,221
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 1,778,630 1,513,677
Provision for bad debts 2,472,298 1,138,019
Depreciation and amortization 4,801,859 4,575,646
Change in fair value of contingent consideration 4,415,925 (7,666,145)
Gain on dispositions, net   (3,707,993)
Termination of retirement benefits plan   (1,812,448)
Amortization of loan fees 1,415,549 1,640,424
Loss on modification of long-term debt 281,021  
Deferred income taxes 2,481,306 5,785,088
Change in operating assets and liabilities:    
Accounts receivable (6,587,432) 1,697,994
Prepaid expenses (4,057,747) (2,146,627)
Other assets (1,511,179) 921,482
Accounts payable 6,715,576 1,758,187
Other liabilities 212,056 (3,453,897)
Other operating activities 19,050 49,118
Net cash provided by operating activities 15,833,485 17,754,746
Cash flows from investing activities:    
Payments for acquisitions (39,520,000)  
Capital expenditures (3,346,558) (2,962,466)
Proceeds from dispositions   35,000,000
Payments for translator licenses (52,500) (1,109,103)
Payments for investments (150,000)  
Loan to related party   (150,000)
Net cash provided by (used in) investing activities (43,069,058) 30,778,431
Cash flows from financing activities:    
Issuance of debt 35,000,000  
Payments on debt (7,048,014) (49,045,808)
Payments of debt issuance costs (553,062)  
Dividends paid (4,020,751) (3,851,460)
Purchase of treasury stock (85,489) (506,410)
Net cash provided by (used in) financing activities 23,292,684 (53,403,678)
Net decrease in cash and cash equivalents (3,942,889) (4,870,501)
Cash and cash equivalents at beginning of period 13,922,390 20,325,415
Cash and cash equivalents at end of period 9,979,501 15,454,914
Cash paid for interest 9,993,376 12,672,589
Cash paid for income taxes 273,200 2,021,125
Supplement disclosure of non-cash investing and financing activities:    
Dividends declared but unpaid 1,367,761 1,286,010
Translator license and equipment received as consideration   332,000
Note receivable and accrued interest converted to investment 187,618  
Postretirement Benefits Plan [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Termination of retirement benefits plan   $ (1,812,448)
Pension Plan [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Termination of retirement benefits plan (992,623)  
Class A Common Stock [Member]    
Supplement disclosure of non-cash investing and financing activities:    
Class A common stock returned to treasury stock 13,515,406  
Common stock issued for acquisition $ 29,888