v3.24.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 16,565 $ 17,835
Reconciliations of net income to net cash used in operating activities:    
Depreciation and amortization 3,764 3,406
Non-cash lease expense 3,308 3,514
Net investment (accretion) amortization and (gains) losses recognized (498) 468
Share-based compensation 4,293 3,891
Changes in certain operating assets and liabilities:    
Trade accounts receivable (40,158) (34,217)
Income taxes 6,803 3,881
Prepaid expenses and other 984 2,162
Accounts payable (2,197) (2,563)
Accrued payroll, payroll taxes and related benefits 16,776 16,507
Other accrued liabilities (434) (3,992)
Premium payable (29,827) (5,363)
Workers' compensation claims liabilities (18,265) (24,902)
Operating lease liabilities (3,436) (3,592)
Other assets and liabilities, net (31) (232)
Net cash used in operating activities (42,353) (23,197)
Cash flows from investing activities:    
Purchase of property, equipment and software (7,709) (5,806)
Purchase of investments   (188)
Proceeds from sales and maturities of investments 10,607 514
Purchase of restricted investments (7,650) (11,454)
Proceeds from sales and maturities of restricted investments 61,758 10,571
Net cash provided by (used in) investing activities 57,006 (6,363)
Cash flows from financing activities:    
Proceeds from credit-line borrowings 415  
Payments on credit-line borrowings (415)  
Repurchases of common stock (14,103) (18,175)
Common stock repurchased on vesting of stock awards (1,853) (1,309)
Dividends paid (3,925) (4,080)
Proceeds from exercise of stock options and purchase of ESPP 383 341
Net cash used in financing activities (19,498) (23,223)
Net decrease in cash, cash equivalents and restricted cash (4,845) (52,783)
Cash, cash equivalents and restricted cash, beginning of period 74,841 107,378
Cash, cash equivalents and restricted cash, end of period $ 69,996 $ 54,595

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