Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income from continuing operations $ 47,391 $ 20,641
Adjustments to reconcile net income of continuing operations to net cash provided by operating activities of continuing operations    
Depreciation and amortization 18,651 18,747
Change in fair value of earn-out liability (385) (2,702)
Share-based compensation expense 5,578 5,507
Provision for revenue adjustments 3,525 1,787
Deferred income tax (benefit) expense (572) 4,668
Other 189 697
Changes in operating assets and liabilities, net of effects from the purchase of acquired businesses:    
Accounts receivable (51,018) 2,979
Other receivables (13,491) 0
Other current and noncurrent assets 6,746 (29)
Accounts payable and accrued expenses 23,047 7,634
Net cash provided by operating activities of continuing operations 39,661 59,929
Investing activities:    
Proceeds from sale of property and equipment 1,314 988
Purchases of property and equipment (8,575) (14,214)
Purchase of a business, net of cash acquired (22,543) (55,931)
Net cash used in investing activities of continuing operations (29,804) (69,157)
Financing activities:    
Repayments of finance lease obligations (954) (676)
Proceeds from revolving credit facility 45,000 65,000
Payment of earn-out liability 0 (5,284)
Proceeds from issuance of common stock upon stock option exercises 3,570 0
Payments of dividends to stockholders (11,565) (10,087)
Repurchases and retirement of common stock (33,992) (15,259)
Proceeds from common stock issued under employee stock purchase plan 388 294
Payment of minimum tax withholdings on share-based awards (2,832) (3,286)
Contributions from (distributions to) subsidiary held for sale 1,118  
Contributions from (distributions to) subsidiary held for sale   (5,307)
Net cash provided by financing activities from continuing operations 733 25,395
Net increase in cash and cash equivalents of continuing operations 10,590 16,167
Cash from discontinued operation:    
Net cash used in operating activities of discontinued operation (6,902) (4,672)
Net cash provided by (used in) investing activities of discontinued operation 8,020 (635)
Net cash (used in) provided by financing activities of discontinued operation (1,118) 5,307
Net increase in cash and cash equivalents 10,590 16,167
Cash and cash equivalents at beginning of period of continuing operations 40,254 64,749
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 $ 50,844 $ 80,916