Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 87,321 $ 27,670 $ 55,575
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 41,055 38,210 37,157
Impairment of goodwill, intangible and other assets 0 42,442 0
Share-based compensation 8,103 8,334 7,486
Loss (gain) on disposal of property and equipment 1,281 291 (181)
Provision for loss on receivables 1,814 258 33
Provision for revenue adjustments 3,055 2,020 4,793
Deferred income taxes (12,468) 3,525 14,531
Tax benefit for stock options exercised 0 (1,732) (5,413)
Changes in operating assets and liabilities, net of acquisition of business      
Accounts receivable (31,308) (9,715) 5,403
Prepaid expenses and other assets (1,204) 283 (1,378)
Accounts payable and accrued expenses 8,945 (1,413) (17,513)
Income taxes (3,230) 20,177 (14,771)
Net cash provided by operating activities 103,364 130,350 85,722
Investing activities:      
Proceeds from disposal of property and equipment 2,440 1,929 1,720
Purchases of property and equipment (38,265) (42,186) (40,495)
Acquisition of business, net of cash acquired (23,140) (11,800) (61,878)
Other (223) (336) (265)
Net cash used in investing activities (59,188) (52,393) (100,918)
Financing activities:      
Proceeds from term loan 0 0 125,000
Payments of debt and capital lease obligations (42,790) (55,768) (101,352)
Proceeds from senior credit facility 55,000 0 0
Proceeds from exercise of stock options 7,272 8,148 14,313
Payments of cash dividends (18,052) (15,529) (14,821)
Repurchase of common stock (repurchase program) (48,983) (39,983) (19,992)
Common stock issued under employee stock purchase plan 458 442 449
Cash settlement of share-based awards for minimum tax withholdings (1,699) (1,800) (1,931)
Tax benefit for stock options exercised 0 1,732 5,413
Net cash (used in) provided by financing activities (48,794) (102,758) 7,079
Net decrease in cash (4,618) (24,801) (8,117)
Cash at beginning of period 8,511 33,312 41,429
Cash at end of period $ 3,893 $ 8,511 $ 33,312