Cash Flow

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 12,536 $ 8,103
Reconciliations of net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,625 2,171
Non-cash lease expense 3,937 3,545
Investment amortization and losses recognized 671 283
Deferred Income taxes   3,890
Share-based compensation 2,395 1,139
Changes in certain operating assets and liabilities:    
Trade accounts receivable (108,076) (24,822)
Income taxes 3,480 (2,171)
Prepaid expenses and other (2,476) (2,458)
Accounts payable (140) (1,042)
Accrued payroll, payroll taxes and related benefits 87,024 8,035
Other accrued liabilities 58,051 (2,759)
Workers' compensation claims liabilities (41,634) (102,572)
Safety incentives liability (11,944) (2,183)
Operating lease liabilities (3,805) (3,405)
Other assets and liabilities, net (23) (143)
Net cash provided by (used in) operating activities 2,621 (114,389)
Cash flows from investing activities:    
Purchase of property, equipment and software (3,224) (5,725)
Purchase of investments (42,011) (23,722)
Proceeds from sales and maturities of investments 40,054 38,547
Purchase of restricted investments (253,048) (29,570)
Proceeds from sales and maturities of restricted investments 46,690 22,453
Net cash (used in) provided by investing activities (211,539) 1,983
Cash flows from financing activities:    
Payments on long-term debt (111) (110)
Repurchase of common stock (6,578) (2,987)
Common stock repurchased on vesting of stock awards (394) (488)
Dividends paid (4,549) (4,534)
Proceeds from exercise of stock options 876 2,714
Net cash used in financing activities (10,756) (5,405)
Net decrease in cash, cash equivalents and restricted cash (219,674) (117,811)
Cash, cash equivalents and restricted cash, beginning of period 233,837 273,341
Cash, cash equivalents and restricted cash, end of period $ 14,163 $ 155,530

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