v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 35,740 $ 27,465
Reconciliations of net income to net cash used in operating activities:    
Depreciation and amortization 4,585 3,967
Non-cash lease expense 5,236 5,937
Investment amortization and losses recognized 915 1,053
Deferred Income taxes   (1)
Share-based compensation 5,489 3,874
Changes in certain operating assets and liabilities:    
Trade accounts receivable (38,830) (121,787)
Income taxes 899 4,753
Prepaid expenses and other (2,561) (7,457)
Accounts payable 68 (263)
Accrued payroll, payroll taxes and related benefits 33,093 100,792
Other accrued liabilities 11,747 835
Workers' compensation claims liabilities (52,937) (60,230)
Safety incentives liability (1,817) (13,464)
Operating lease liabilities (5,005) (5,773)
Other assets and liabilities, net 319 (5)
Net cash used in operating activities (3,059) (60,304)
Cash flows from investing activities:    
Purchase of property, equipment and software (11,458) (5,016)
Purchase of investments   (56,775)
Proceeds from sales and maturities of investments 12,828 72,130
Purchase of restricted investments (3,644) (253,778)
Proceeds from sales and maturities of restricted investments 44,746 110,131
Net cash provided by (used in) investing activities 42,472 (133,308)
Cash flows from financing activities:    
Proceeds from credit-line borrowings   2,718
Payments on credit-line borrowings   (2,718)
Payments on long-term debt (3,510) (166)
Repurchase of common stock (39,052) (10,775)
Common stock repurchased on vesting of stock awards (1,621) (1,404)
Dividends paid (6,552) (6,818)
Proceeds from exercise of stock options 711 1,156
Net cash used in financing activities (50,024) (18,007)
Net decrease in cash, cash equivalents and restricted cash (10,611) (211,619)
Cash, cash equivalents and restricted cash, beginning of period 78,629 233,837
Cash, cash equivalents and restricted cash, end of period $ 68,018 $ 22,218

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