Cash Flow

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 33,765 $ 48,292 $ 38,062
Reconciliations of net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 4,844 3,886 4,219
Non-cash operating lease expense 7,246 6,991  
Investment (accretion) amortization and (gains) losses recognized 587 1,117 163
Loss recognized on sale or disposal of property and equipment 574   64
Deferred income taxes 5,492 2,656 (1,192)
Share-based compensation 3,436 7,173 5,502
Changes in certain operating assets and liabilities:      
Trade accounts receivable 45,055 (11,964) (14,933)
Income taxes (5,150) (5,738) 6,089
Prepaid expenses and other (1,042) (1,039) (8,156)
Accounts payable (1,247) 1,657 (830)
Accrued payroll, payroll taxes and related benefits (22,608) 17,858 (21,863)
Other accrued liabilities (1,671) (11,720) 12,550
Workers' compensation claims liabilities (80,783) 25,477 49,632
Safety incentives liability (9,123) (1,260) 678
Operating lease liabilities (7,062) (6,242)  
Other assets and liabilities, net (228) (7) (201)
Net cash (used in) provided by operating activities (27,915) 77,137 69,784
Cash flows from investing activities:      
Purchase of property, equipment and software (8,610) (10,798) (5,679)
Proceeds from sale of property     485
Purchase of investments (65,738) (54,343) (1,946)
Proceeds from sales and maturities of investments 47,922 88,771 1,885
Purchase of restricted investments (34,968) (9,812) (108,739)
Proceeds from sales and maturities of restricted investments 65,535 52,495 74,650
Net cash provided by (used in) investing activities 4,141 66,313 (39,344)
Cash flows from financing activities:      
Proceeds from credit-line borrowings   18,843 8,500
Payments on credit-line borrowings   (18,843) (8,500)
Payments on long-term debt (220) (221) (220)
Repurchase of common stock (8,056)    
Common stock repurchased on vesting of stock awards (1,417) (3,136) (2,952)
Dividends paid (9,121) (8,208) (7,348)
Proceeds from exercise of stock options 3,084 754 577
Net cash used in financing activities (15,730) (10,811) (9,943)
Net (decrease) increase in cash, cash equivalents and restricted cash (39,504) 132,639 20,497
Cash, cash equivalents and restricted cash, beginning of period 273,341 140,702 120,205
Cash, cash equivalents and restricted cash, end of period $ 233,837 $ 273,341 $ 140,702

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