v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income from continuing operations $ 150,249 $ 77,894
Adjustments to reconcile net income of continuing operations to net cash provided by operating activities of continuing operations    
Depreciation and amortization 34,994 28,067
Change in fair value of earn-out liability (294) (385)
Share-based compensation expense 8,743 8,179
Provision for revenue adjustments 7,302 5,504
Deferred income tax expense (benefit) 1,962 (1,384)
Other 417 406
Changes in operating assets and liabilities, net of effects from the purchase of acquired businesses:    
Accounts receivable (43,172) (49,086)
Other receivables 8,097 (14,218)
Other current and noncurrent assets 6,743 8,198
Accounts payable, accrued expenses and other long-term liabilities 21,773 19,577
Net cash provided by operating activities of continuing operations 196,814 82,752
Investing activities:    
Proceeds from sale of property and equipment 1,423 2,339
Purchases of property and equipment (25,401) (23,015)
Purchases of a business, net of cash acquired (40,433) (23,053)
Net cash used in investing activities of continuing operations (64,411) (43,729)
Financing activities:    
Repayments of finance lease obligations (4,209) (1,445)
Proceeds from credit facility 0 45,000
Payments on credit facility (48,625) 0
Payment of debt issuance costs 0 (119)
Payment of earn-out liability (91) (6,519)
Proceeds from issuance of common stock upon stock option exercises 206 3,563
Payments of dividends to shareholders (19,461) (17,270)
Repurchases and retirement of common stock (47,774) (48,989)
Proceeds from common stock issued under employee stock purchase plan 374 388
Payment of minimum tax withholdings on share-based awards (3,293) (3,074)
Contributions from subsidiary held for sale 0 1,118
Net cash used in financing activities from continuing operations (122,873) (27,347)
Net increase in cash and cash equivalents of continuing operations 9,530 11,676
Cash from discontinued operation:    
Net cash used in operating activities of discontinued operation 0 (6,902)
Net cash provided by investing activities of discontinued operation 0 8,020
Net cash used in financing activities of discontinued operation 0 (1,118)
Net increase in cash and cash equivalents 9,530 11,676
Cash and cash equivalents at beginning of period of continuing operations 37,316 40,254
Cash at beginning of period of discontinued operation 0 0
Less: cash at end of period of discontinued operation 0 0
Cash and cash equivalents at end of period of continuing operations $ 46,846 $ 51,930

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