Cash Flow

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 288 $ (4,554)
Reconciliations of net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,508 1,297
Non-cash lease expense 1,798 1,872
Investment amortization and losses recognized 336 203
Deferred Income taxes 25  
Share-based compensation 1,830 1,060
Changes in certain operating assets and liabilities:    
Trade accounts receivable (100,589) (88,924)
Income taxes 223 (1,724)
Prepaid expenses and other (1,633) 1,348
Accounts payable (153) 865
Accrued payroll, payroll taxes and related benefits 85,897 83,926
Other accrued liabilities 50 964
Workers' compensation claims liabilities (16,894) 5,273
Safety incentives liability (1,038) (7,573)
Operating lease liabilities (1,725) (1,887)
Other assets and liabilities, net (132) (30)
Net cash used in operating activities (30,209) (7,884)
Cash flows from investing activities:    
Purchase of property, equipment and software (6,754) (1,781)
Purchase of investments   (23,444)
Proceeds from sales and maturities of investments 10,796 9,381
Purchase of restricted investments (2,272) (132,788)
Proceeds from sales and maturities of restricted investments 18,735 24,286
Net cash provided by (used in) investing activities 20,505 (124,346)
Cash flows from financing activities:    
Payments on long-term debt (3,510) (55)
Repurchase of common stock (8,575) (3,436)
Common stock repurchased on vesting of stock awards (185) (107)
Dividends paid (2,229) (2,278)
Proceeds from exercise of stock options 411 815
Net cash used in financing activities (14,088) (5,061)
Net decrease in cash, cash equivalents and restricted cash (23,792) (137,291)
Cash, cash equivalents and restricted cash, beginning of period 78,629 233,837
Cash, cash equivalents and restricted cash, end of period $ 54,837 $ 96,546

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