Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 26,614 $ 36,578
Reconciliations of net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 3,512 2,909
Non-cash lease expense 5,394 5,243
Investment (accretion) amortization and (gains) losses recognized 343 940
Deferred Income taxes 3,890  
Share-based compensation 2,284 5,501
Changes in certain operating assets and liabilities:    
Trade accounts receivable (48,801) (35,870)
Income taxes (405) (995)
Prepaid expenses and other 1,036 (2,094)
Accounts payable 454 1,096
Accrued payroll, payroll taxes and related benefits 32,554 40,763
Other accrued liabilities (2,698) (7,322)
Workers' compensation claims liabilities (93,097) 16,857
Safety incentives liability (4,596) (1,483)
Operating lease liabilities (5,215) (4,673)
Other assets and liabilities, net (130) 75
Net cash (used in) provided by operating activities (78,861) 57,525
Cash flows from investing activities:    
Purchase of property, equipment and software (6,936) (7,672)
Purchase of investments (50,329) (658)
Proceeds from sales and maturities of investments 46,791 15,941
Purchase of restricted investments (32,508) (3,946)
Proceeds from sales and maturities of restricted investments 45,160 42,409
Net cash provided by investing activities 2,178 46,074
Cash flows from financing activities:    
Proceeds from credit-line borrowings   18,843
Payments on credit-line borrowings   (18,843)
Payments on long-term debt (165) (166)
Common stock repurchased on vesting of stock awards (1,416) (3,136)
Dividends paid (6,826) (5,954)
Proceeds from exercise of stock options 3,014 458
Net cash used in financing activities (8,380) (8,798)
Repurchase of common stock (2,987)  
Net (decrease) increase in cash, cash equivalents and restricted cash (85,063) 94,801
Cash, cash equivalents and restricted cash, beginning of period 273,341 140,702
Cash, cash equivalents and restricted cash, end of period $ 188,278 $ 235,503