Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net income $ 14,243 $ 13,099
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 10,033 9,668
Share-based compensation 1,962 1,952
Loss on disposal of property and equipment 488 93
Provision for loss (recovery) on receivables 22 (196)
Provision for revenue adjustments 718 799
Deferred income tax (85) 5,031
Excess tax benefit for stock options exercised 0 (38)
Changes in operating assets and liabilities    
Accounts receivable (611) 4,245
Other current assets 2,153 2,582
Accounts payable and accrued expenses 8,137 206
Net cash provided by operating activities 37,060 37,441
Investing activities:    
Proceeds from disposal of property and equipment 790 155
Purchases of property and equipment (2,652) (2,688)
Acquisition of business, net of cash acquired 0 (1,700)
Other 129 22
Net cash used in investing activities (1,733) (4,211)
Financing activities:    
Payments of debt and capital lease obligations (27,857) (13,969)
Proceeds from senior credit facility 13,000 0
Proceeds from exercise of stock options 1,524 881
Payments of cash dividends (4,539) (3,678)
Repurchase of common stock (repurchase program) (9,996) (9,995)
Excess tax benefit for stock options exercised 0 38
Cash settlement of share-based awards for minimum tax withholdings (1,635) (1,782)
Net cash used in financing activities (29,503) (28,505)
Net increase in cash 5,824 4,725
Cash at beginning of period 8,511 33,312
Cash at end of period $ 14,335 $ 38,037