Cash Flow

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 18,302 $ 12,536
Reconciliations of net income (loss) to net cash used in operating activities:    
Depreciation and amortization 3,031 2,625
Non-cash lease expense 3,499 3,937
Investment amortization and losses recognized 600 671
Share-based compensation 3,596 2,395
Changes in certain operating assets and liabilities:    
Trade accounts receivable (111,163) (108,076)
Income taxes 3,541 3,480
Prepaid expenses and other (2,752) (2,476)
Accounts payable (164) (140)
Accrued payroll, payroll taxes and related benefits 83,795 87,024
Other accrued liabilities 3,080 58,051
Workers' compensation claims liabilities (37,871) (41,634)
Safety incentives liability (1,562) (11,944)
Operating lease liabilities (3,280) (3,805)
Other assets and liabilities, net (68) (23)
Net cash (used in) provided by operating activities (37,416) 2,621
Cash flows from investing activities:    
Purchase of property, equipment and software (8,408) (3,224)
Purchase of investments   (42,011)
Proceeds from sales and maturities of investments 11,363 40,054
Purchase of restricted investments (3,062) (253,048)
Proceeds from sales and maturities of restricted investments 39,490 46,690
Net cash provided by (used in) investing activities 39,383 (211,539)
Cash flows from financing activities:    
Payments on long-term debt (3,510) (111)
Repurchase of common stock (28,492) (6,578)
Common stock repurchased on vesting of stock awards (443) (394)
Dividends paid (4,424) (4,549)
Proceeds from exercise of stock options 411 876
Net cash used in financing activities (36,458) (10,756)
Net decrease in cash, cash equivalents and restricted cash (34,491) (219,674)
Cash, cash equivalents and restricted cash, beginning of period 78,629 233,837
Cash, cash equivalents and restricted cash, end of period $ 44,138 $ 14,163

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