| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | |||||||||||
Net income | |||||||||||
87,099 | 92,051 | 87,255 | 27,505 | 55,575 | 61,169 | 54,467 | 52,668 | 47,199 | 32,036 | 9,802 | 42,542 |
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||
Depreciation and amortization | |||||||||||
42,109 | 42,183 | 41,055 | 38,210 | 37,157 | 31,133 | 23,579 | 21,021 | 20,993 | 20,450 | 19,722 | -16,615 |
Goodwill and Intangible Asset Impairment | |||||||||||
- | - | - | 42,442 | 0 | 0 | - | - | - | - | 7,157 | 0 |
Share-based compensation | |||||||||||
11,907 | 10,549 | 8,103 | 8,334 | 7,486 | 6,681 | 6,178 | 6,050 | 5,971 | 6,284 | 6,754 | 6,267 |
Change in fair value of earn-out liability | |||||||||||
33 | 455 | 0 | 0 | - | - | 615 | 0 | 0 | - | - | - |
Gain on disposal of property and equipment, net | |||||||||||
-1,121 | 171 | -1,281 | -291 | 181 | 383 | 454 | -318 | 82 | -570 | -6 | 171 |
(Recovery of) provision for loss on receivables | |||||||||||
761 | 139 | 1,814 | 258 | 33 | 241 | 423 | 199 | -217 | -52 | -60 | 903 |
Provision for revenue adjustments | |||||||||||
3,342 | 3,628 | 3,055 | 2,020 | 4,793 | 2,465 | 2,531 | 2,003 | 1,951 | 1,589 | 2,390 | 4,259 |
Deferred income taxes | |||||||||||
-6,768 | -8,094 | 12,068 | -3,412 | -14,531 | 3,021 | -4,856 | -2,043 | -5,148 | 1,436 | -4,581 | - |
Tax benefit for stock options exercised | |||||||||||
- | - | - | 1,732 | 5,413 | 2,109 | 3,707 | -385 | -747 | -194 | 370 | -1,030 |
Deferred income tax expense | |||||||||||
- | - | - | - | - | - | - | - | - | - | -4,581 | 1,151 |
Changes in operating assets and liabilities | |||||||||||
Accounts receivable | |||||||||||
-2,059 | 12,178 | 33,457 | 10,077 | -5,403 | 12,193 | -1,447 | 6,542 | 9,893 | -8,580 | -844 | -2,376 |
Prepaid expenses and other current assets | |||||||||||
6,098 | 2,565 | 1,204 | -283 | 1,378 | 280 | 215 | 1,331 | 1,757 | -40 | 548 | -2,102 |
Income taxes | |||||||||||
1,284 | -1,256 | -3,480 | 20,177 | -14,771 | 8,156 | -239 | -3,981 | 4,568 | -1,386 | 5,096 | -4,652 |
Accounts payable and accrued expenses | |||||||||||
8,700 | 12,535 | 11,010 | -772 | -17,513 | -199 | 2,588 | -3,477 | 3,825 | 3,022 | 3,831 | -2,665 |
Net cash provided by operating activities | |||||||||||
159,019 | 152,554 | 103,364 | 130,351 | 85,722 | 91,660 | 90,839 | 68,586 | 76,959 | 53,995 | 50,179 | 59,083 |
Investing activities: | |||||||||||
Proceeds from disposal of property and equipment | |||||||||||
3,294 | 7,059 | 2,440 | 1,929 | 1,720 | 1,947 | 1,973 | 911 | 1,267 | 1,482 | 270 | 87 |
Purchases of property and equipment | |||||||||||
28,209 | 42,293 | 38,265 | 42,186 | 40,495 | 39,487 | 35,439 | 21,353 | 21,216 | 15,148 | 20,847 | 26,699 |
Acquisition of business, net of cash acquired | |||||||||||
39,000 | 19,987 | 23,140 | 11,800 | 61,878 | 90,172 | 45,328 | 0 | 0 | - | - | 29,566 |
Other | |||||||||||
0 | 242 | 222 | 337 | 265 | -2 | 129 | 263 | -278 | 224 | -372 | 10 |
Net cash used in investing activities | |||||||||||
-63,915 | -55,463 | -59,187 | -52,394 | -100,918 | -127,710 | -78,923 | -20,705 | -19,671 | -13,890 | -20,205 | -56,188 |
Financing activities: | |||||||||||
Proceeds from term loan | |||||||||||
- | - | - | - | 125,000 | 0 | 0 | - | - | - | - | - |
Payments of finance lease obligations | |||||||||||
946 | 302 | 42,790 | 55,768 | 101,352 | 9,736 | 20,375 | 551 | 637 | 895 | 1,549 | 1,603 |
Proceeds from senior credit facility | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 45,000 |
Payments on line of credit | |||||||||||
20,000 | 7,000 | 55,000 | 0 | 0 | - | 0 | 0 | 50,000 | 0 | 0 | 25,000 |
Proceeds from exercise of stock options | |||||||||||
4,050 | 3,921 | 7,272 | 8,148 | 14,313 | 13,235 | 33,002 | 15,740 | 10,946 | 991 | 8 | 3,085 |
Payments of cash dividends | |||||||||||
20,494 | 18,427 | 18,052 | 15,529 | 14,821 | 14,795 | 12,141 | 9,947 | 8,194 | 8,121 | 8,109 | 8,089 |
Repurchase of common stock (repurchase program) | |||||||||||
56,204 | 66,126 | 48,983 | 39,983 | 19,992 | 39,972 | 354 | 0 | 26,101 | 0 | 0 | - |
Common stock issued under employee stock purchase plan | |||||||||||
614 | 479 | 458 | 442 | 449 | 354 | 296 | 259 | 248 | 195 | 237 | 255 |
Cash settlement of share-based awards for tax withholdings | |||||||||||
-3,032 | -1,872 | -1,700 | -1,800 | -1,931 | -1,083 | -866 | -386 | 0 | 0 | -249 | -389 |
Tax benefit for stock options exercised | |||||||||||
- | - | - | 1,732 | 5,413 | 2,109 | 3,707 | 385 | 747 | 194 | -370 | 1,030 |
Net cash provided by (used in) financing activities | |||||||||||
-56,012 | -75,327 | -48,795 | -102,758 | 7,079 | -49,888 | 3,269 | 5,500 | -72,991 | -7,636 | -10,032 | 14,289 |
Net increase (decrease) in cash | |||||||||||
39,092 | 21,764 | -4,618 | -24,801 | -8,117 | -85,938 | 15,185 | 53,381 | -15,703 | 32,469 | 19,942 | 17,184 |
Non-cash activity: | |||||||||||
Unpaid capital expenditures included in accounts payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | 234 | 1,640 |