v3.19.3.a.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 87,099 $ 92,051 $ 87,255
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 42,109 42,183 41,055
Change in fair value of earn-out liability (33) (455) 0
Share-based compensation 11,907 10,549 8,103
Loss (gain) on disposal of property and equipment 1,121 (171) 1,281
Provision for loss on receivables 761 139 1,814
Provision for revenue adjustments 3,342 3,628 3,055
Deferred income taxes 6,768 8,094 (12,068)
Changes in operating assets and liabilities      
Accounts receivable 2,059 (12,178) (33,457)
Prepaid expenses and other assets (6,098) (2,565) (1,204)
Income taxes 1,284 (1,256) (3,480)
Accounts payable and accrued expenses 8,700 12,535 11,010
Net cash provided by operating activities 159,019 152,554 103,364
Investing activities:      
Proceeds from disposal of property and equipment 3,294 7,059 2,440
Purchases of property and equipment (28,209) (42,293) (38,265)
Acquisition of business, net of cash acquired (39,000) (19,987) (23,140)
Other 0 (242) (222)
Net cash used in investing activities (63,915) (55,463) (59,187)
Financing activities:      
Payments of finance lease obligations (946) (302) (42,790)
Proceeds from senior credit facility 20,000 7,000 55,000
Proceeds from exercise of stock options 4,050 3,921 7,272
Payments of cash dividends (20,494) (18,427) (18,052)
Repurchase of common stock (repurchase program) (56,204) (66,126) (48,983)
Common stock issued under employee stock purchase plan 614 479 458
Cash settlement of share-based awards for minimum tax withholdings (3,032) (1,872) (1,700)
Net cash used in financing activities (56,012) (75,327) (48,795)
Net increase (decrease) in cash 39,092 21,764 (4,618)
Cash at beginning of period 25,657 3,893 8,511
Cash at end of period $ 64,749 $ 25,657 $ 3,893

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