v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income $ 40,737 $ 42,038
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 21,508 21,052
Share-based compensation 6,244 4,678
Gain on disposal of property and equipment (88) (134)
Provision for loss on receivables 631 457
Provision for revenue adjustments 1,280 1,829
Deferred income tax expense 3,278 4,494
Changes in operating assets and liabilities    
Accounts receivable (267) (6,732)
Prepaid expenses and other current assets (4,984) (3,639)
Income taxes (2,182) (1,428)
Accounts payable and accrued expenses 5,607 4,375
Net cash provided by operating activities 71,764 66,990
Investing activities:    
Proceeds from disposal of property and equipment 1,272 4,839
Purchases of property and equipment (16,598) (17,606)
Acquisition of business, net of cash acquired (27,000) 0
Other 0 (347)
Net cash used in investing activities (42,326) (13,114)
Financing activities:    
Payments of finance lease obligations (137) (151)
Proceeds from senior credit facility 10,000 0
Proceeds from exercise of stock options 1,278 1,112
Payments of cash dividends (10,333) (8,828)
Repurchase of common stock (repurchase program) (38,617) (28,165)
Proceeds from common stock issued under employee stock purchase plan 261 237
Cash settlement of share-based awards for tax withholdings (2,770) (1,872)
Net cash used in financing activities (40,318) (37,667)
Net (decrease) increase in cash (10,880) 16,209
Cash at beginning of period 25,657 3,893
Cash at end of period $ 14,777 $ 20,102

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