| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
64,581 | 83,524 | 88,226 | 77,396 | 58,024 | 21,850 | 47,129 | 44,214 | 38,156 | 34,441 | 30,342 | 26,614 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
13,940 | 9,272 | 8,886 | 7,496 | 7,660 | 7,269 | 6,204 | 5,116 | 4,387 | 3,764 | 3,229 | 2,852 |
Bad debt provision | |||||||||||
25,480 | 51,387 | 6,250 | 4,629 | 4,335 | 4,470 | 1,990 | 2,160 | 2,450 | 2,200 | 2,404 | 4,234 |
Deferred income tax (benefit) expense | |||||||||||
-684 | -13,013 | 1,887 | 3,001 | 17,842 | -15,059 | -4,922 | -3,493 | 275 | 517 | - | 1,182 |
Share-based compensation expense | |||||||||||
6,865 | 5,900 | 5,985 | 4,252 | 1,668 | 3,080 | 2,607 | 2,538 | 2,152 | 1,332 | 1,074 | 563 |
Tax benefit from equity compensation plans | |||||||||||
- | - | - | 2,981 | - | 2,626 | 2,615 | - | - | - | - | - |
Amortization of premium on marketable securities | |||||||||||
1,434 | 1,373 | 1,296 | 1,723 | 681 | 354 | 537 | 654 | 999 | 840 | 956 | 174 |
Unrealized loss on marketable securities | |||||||||||
- | - | - | - | - | - | - | -82 | -486 | -1,083 | 505 | 1,146 |
Unrealized loss (gain) on deferred compensation fund investments | |||||||||||
7,257 | -1,429 | 4,509 | 1,460 | -24 | 1,216 | 2,820 | 1,871 | -104 | 1,325 | 1,797 | -2,389 |
Changes in operating assets and liabilities: | |||||||||||
Accounts and notes receivable | |||||||||||
29,532 | 44,363 | 121,639 | 65,610 | 18,854 | 13,492 | 50,879 | 11,634 | 24,769 | 6,270 | 10,202 | 17,841 |
Prepaid income taxes | |||||||||||
- | - | - | - | - | - | - | -405 | -3,574 | 4,014 | -2,838 | 2,838 |
Inventories and supplies | |||||||||||
-4,765 | -950 | 1,873 | 1,492 | 846 | 3,015 | 3,772 | 3,531 | 4,531 | 3,639 | 620 | 963 |
Prepaid expenses and other assets | |||||||||||
-3,480 | -1,054 | 9,545 | 2,470 | 1,710 | 417 | -790 | 2,830 | 220 | -1,006 | -4,512 | 121 |
Notes receivable - long term | |||||||||||
- | - | - | - | - | -600 | 3,956 | 340 | -3,572 | 432 | 1,422 | -2,856 |
Deferred compensation funding | |||||||||||
738 | 1,536 | 257 | -2,732 | 649 | 2,542 | 4,369 | 4,051 | 1,804 | -29 | 700 | 315 |
Accounts payable and other accrued expenses | |||||||||||
-9,532 | -9,144 | 11,197 | -4,251 | 2,403 | 492 | 25,961 | 13,664 | -1,079 | 1,306 | 1,934 | -85 |
Accrued payroll, accrued and withheld payroll taxes | |||||||||||
3,517 | 6,085 | 11,927 | 6,307 | -28,314 | 11,813 | 6,349 | 6,142 | 6,319 | 4,437 | 2,800 | 3,753 |
Income taxes payable | |||||||||||
935 | -8,238 | 7,692 | 7,455 | 5,997 | -163 | 2,587 | 1,906 | 0 | 0 | 35 | -1,726 |
Accrued insurance claims | |||||||||||
7,845 | -5,099 | -2,954 | 5,404 | 13,987 | 42,084 | 3,616 | 4,908 | 732 | 775 | 3,002 | -1,195 |
Deferred compensation liability | |||||||||||
8,482 | 450 | 5,061 | -731 | 1,113 | 4,248 | 7,721 | 6,337 | 2,145 | 1,697 | 2,817 | -1,725 |
Net cash provided by operating activities | |||||||||||
93,581 | 80,031 | 7,630 | 41,400 | 63,361 | 57,730 | 32,158 | 60,376 | 32,948 | 37,747 | 38,307 | 16,662 |
Cash flows from investing activities: | |||||||||||
Disposals of fixed assets | |||||||||||
199 | 640 | 338 | 275 | 267 | 83 | 158 | 26 | 22 | 44 | 220 | 157 |
Additions to property and equipment | |||||||||||
4,368 | 4,940 | 5,397 | 5,442 | 4,998 | 5,795 | 3,762 | 3,484 | 5,545 | 4,174 | 2,154 | 1,577 |
Purchases of marketable securities | |||||||||||
33,544 | 14,297 | 33,861 | 29,449 | 75,150 | 5,140 | 6,598 | 10,833 | 18,934 | 38,873 | 3,686 | 48,442 |
Sales of marketable securities | |||||||||||
21,256 | 9,011 | 28,537 | 28,164 | 17,567 | 4,392 | 15,807 | 19,978 | 29,971 | 46,083 | - | - |
Cash paid for acquisitions | |||||||||||
0 | 0 | 4,584 | 0 | 0 | - | 5,000 | 0 | 1,000 | 0 | 4,613 | - |
Net cash used in investing activities | |||||||||||
-16,457 | -9,586 | -14,967 | -6,452 | -62,314 | -6,460 | 605 | 5,687 | 4,514 | 3,080 | -10,233 | -49,862 |
Cash flows from financing activities: | |||||||||||
Acquisition of treasury stock | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 4,652 |
Dividends paid | |||||||||||
59,000 | 57,201 | 55,244 | 53,342 | 51,375 | 49,077 | 46,707 | 44,093 | 42,228 | 39,285 | 32,246 | 24,983 |
Repayment of debt assumed in acquisition | |||||||||||
- | - | - | - | - | - | - | - | - | - | 4,718 | - |
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan | |||||||||||
90 | 89 | 95 | 109 | 113 | 110 | 107 | 118 | 128 | 121 | 88 | 61 |
Tax benefit from equity compensation plans | |||||||||||
- | - | - | 2,981 | 1,873 | 2,626 | 2,615 | 2,649 | 1,222 | 1,938 | 722 | 4,267 |
Proceeds from the exercise of stock options | |||||||||||
3,628 | 8,801 | 12,808 | 5,968 | 6,251 | 6,196 | 6,428 | 5,573 | 2,363 | 4,790 | 1,880 | 3,547 |
Net (repayments) proceeds from short-term borrowings | |||||||||||
-20,000 | -5,382 | 35,382 | 0 | 0 | - | - | - | - | - | - | - |
Payments of statutory withholding on net issuance of restricted stock units | |||||||||||
587 | 284 | 0 | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | |||||||||||
-75,820 | -53,977 | -6,959 | -44,284 | -43,138 | -40,145 | -37,557 | -35,753 | -38,515 | -32,436 | -34,274 | -21,760 |
Net change in cash and cash equivalents | |||||||||||
1,304 | 16,468 | -14,296 | -9,336 | -42,091 | 11,125 | -4,794 | 30,310 | -1,053 | 8,391 | -6,200 | -54,960 |
Supplementary cash flow information: | |||||||||||
Cash paid for interest | |||||||||||
3,459 | 3,094 | 1,363 | 574 | 258 | 156 | 4 | 3 | 2 | - | - | - |
Cash paid for income taxes, net of refunds | |||||||||||
20,026 | 37,680 | 35,367 | 32,532 | 7,901 | 25,080 | 21,694 | 24,681 | 14,614 | - | - | - |
Contingent shares settled pursuant to acquisition | |||||||||||
1,012 | 2,291 | 0 | 0 | - | - | - | - | - | - | - | - |
Issuance of Common Stock in 2012 and 2011, respectively, related to prior year acquisitions | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - |
Issuance of 27,000 and 99,000 shares of Common Stock related to acquisition in 2011 and 2009, respectively | |||||||||||
- | - | - | - | - | - | - | - | - | - | 4,494 | - |
Issuance of Common Stock in 2015 and 2014, respectively, pursuant to Employee Stock Purchase Plan | |||||||||||
- | - | - | - | - | - | - | - | - | 1,047 | 777 | 1,293 |