| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||||
113,852 | 78,923 | 60,386 | 45,942 | 41,650 | 28,752 | 29,146 | 35,428 | -3,651 | 64,546 | 57,814 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization expense | ||||||||||
18,254 | 16,362 | 13,422 | 12,160 | 11,955 | 9,571 | 8,325 | 7,806 | 7,521 | 7,496 | 4,831 |
Amortization of operating lease right of use asset | ||||||||||
33,368 | 0 | 0 | - | - | - | - | - | - | - | - |
Provision for bad debts | ||||||||||
- | - | - | - | 19,243 | 15,780 | 13,929 | 11,875 | 12,320 | 7,607 | 4,724 |
Stock-based compensation expense | ||||||||||
9,646 | 9,358 | 5,964 | 4,872 | 4,225 | 4,094 | 3,886 | 4,390 | -4,092 | -3,742 | 2,393 |
Deferred income taxes | ||||||||||
18,400 | 19,453 | -4,475 | 7,402 | 1,518 | 2,402 | 2,351 | 2,204 | 4,378 | 2,771 | 4,646 |
Loss on disposal of assets | ||||||||||
-802 | -319 | -60 | -1,199 | -710 | -47 | -520 | -755 | - | - | - |
Impairment of intangibles and other | ||||||||||
7,734 | 4,370 | 1,511 | - | 1,280 | 3,603 | - | - | - | 0 | 542 |
Changes in operating assets and liabilities, net of acquisitions: | ||||||||||
Receivables | ||||||||||
38,907 | 362 | 26,906 | 14,083 | 27,951 | 16,372 | 18,961 | 4,497 | 21,024 | 16,195 | 19,278 |
Prepaid expenses | ||||||||||
-607 | 10,257 | 26,973 | -1,034 | 3,793 | -191 | 749 | -1,780 | -6,247 | 2,319 | 1,617 |
Prepaid income taxes | ||||||||||
78 | 2,519 | 7,006 | -1,641 | -441 | -911 | -3,299 | -18,855 | 17,926 | 2,194 | 3,130 |
Accounts payable and accrued expenses | ||||||||||
-3,082 | -6,577 | 19,666 | 9,182 | 10,526 | -10,460 | 4,395 | -4,288 | 4,478 | 5,777 | -168 |
Operating lease liabilities | ||||||||||
28,062 | 0 | 0 | - | - | - | - | - | - | - | - |
Income taxes payable | ||||||||||
-431 | 511 | -3,499 | 84 | - | - | - | - | - | - | - |
Net amounts due to/from governmental entities | ||||||||||
- | - | - | - | 130 | 138 | -226 | 464 | 189 | 706 | -1,565 |
Net cash provided by operating activities | ||||||||||
130,462 | 108,585 | 32,326 | 67,472 | 59,934 | 38,657 | 45,915 | 74,772 | -3,376 | 71,937 | 49,192 |
Investing activities: | ||||||||||
Cash paid for acquisitions, net of cash acquired | ||||||||||
74,293 | -7,702 | 64,598 | 23,156 | 70,572 | 73,933 | 26,920 | 6,758 | - | - | 33,427 |
Purchases of property, building and equipment | ||||||||||
33,609 | 32,993 | 10,176 | 16,009 | 13,283 | 8,105 | 8,343 | 8,415 | 7,945 | 11,586 | 8,236 |
Proceeds from sale of property, building and equipment | ||||||||||
- | - | - | - | - | - | - | 33 | - | - | - |
Advanced payments on acquisitions | ||||||||||
- | - | - | 11,215 | - | - | - | - | - | - | - |
Cash paid for acquisitions, primarily goodwill and intangible assets and advance payments on acquisitions | ||||||||||
- | - | - | - | - | - | - | - | 11,680 | 31,747 | - |
Net cash used in investing activities | ||||||||||
-107,902 | -25,291 | -74,774 | -50,380 | -83,855 | -82,038 | -35,263 | -15,140 | -19,625 | -43,333 | -41,663 |
Financing activities: | ||||||||||
Proceeds from line of credit | ||||||||||
267,000 | 303,943 | 96,000 | 38,000 | 83,000 | 75,000 | 73,000 | 188,561 | 142,995 | 9,023 | 69,206 |
Payments on line of credit | ||||||||||
249,000 | 319,743 | 39,000 | 49,000 | 45,000 | 37,000 | 70,500 | 203,881 | 108,175 | 14,746 | 63,483 |
Principal payments on debt | ||||||||||
- | - | - | - | - | - | - | - | - | 4,483 | 508 |
Payments on capital leases | ||||||||||
- | - | - | - | - | - | - | - | 14 | 31 | 80 |
Payment of contingent consideration | ||||||||||
- | - | - | - | - | - | - | - | - | 1,726 | - |
Excess tax benefits from vesting of stock awards | ||||||||||
- | - | - | - | 914 | 124 | 18 | 0 | 320 | 476 | 121 |
Proceeds from employee stock purchase plan | ||||||||||
2,066 | 1,342 | 1,026 | 912 | 782 | 782 | 786 | 783 | 860 | 781 | 618 |
Payments on debt | ||||||||||
-7,650 | -4,975 | -260 | -238 | -233 | -202 | 0 | - | - | - | - |
Proceeds from debt issuance | ||||||||||
- | - | - | - | - | - | 1,212 | 0 | - | - | - |
Payments on deferred financing fees | ||||||||||
0 | 1,884 | 0 | 0 | - | 852 | 0 | 0 | - | 498 | 263 |
Noncontrolling interest distributions | ||||||||||
24,082 | 12,134 | 11,382 | 9,413 | 8,324 | 6,843 | 8,126 | 8,444 | 11,857 | 15,666 | 13,971 |
Sale of noncontrolling interest | ||||||||||
756 | 4,208 | 251 | 356 | 0 | 193 | 0 | 80 | 308 | - | - |
Withholding taxes paid on stock-based compensation | ||||||||||
10,687 | 7,125 | 3,114 | 584 | 1,479 | 945 | 869 | 0 | - | - | - |
Purchase of additional controlling interest | ||||||||||
19,663 | 412 | 1,488 | 0 | 275 | 359 | 1,879 | 309 | 891 | 1,914 | 2,286 |
Exercise of vested awards and stock options | ||||||||||
1,009 | 0 | 0 | - | 144 | - | 0 | - | - | 74 | - |
Repurchase of common stock | ||||||||||
- | - | - | - | - | - | - | 26,958 | 577 | - | - |
Net cash (used in) financing activities | ||||||||||
-40,251 | -36,780 | 42,033 | -19,967 | 29,529 | 29,898 | -6,358 | -50,168 | 22,969 | -28,710 | -10,646 |
Change in cash | ||||||||||
-17,691 | 46,514 | -415 | -2,875 | 5,608 | -13,483 | 4,294 | 9,464 | -32 | -106 | -3,117 |
Supplemental disclosures of cash flow information: | ||||||||||
Interest paid | ||||||||||
11,015 | 9,067 | 3,853 | 3,123 | 1,870 | 2,461 | 1,961 | 1,550 | 1,018 | 134 | 142 |
Income taxes paid | ||||||||||
10,109 | 5,703 | 25,199 | 11,533 | 20,361 | 11,781 | 21,606 | 8,645 | 11,363 | 30,605 | 35,869 |
Non-Cash Operating Activity: | ||||||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | ||||||||||
129,290 | - | - | - | - | - | - | - | - | - | - |
Non-Cash Investing Activity: | ||||||||||
Accrued capital expenditures | ||||||||||
2,729 | 3,449 | 0 | 0 | - | - | - | - | - | - | - |
Consideration transferred for a business combination | ||||||||||
0 | 795,412 | 0 | 0 | - | - | - | - | - | - | - |
Non-Cash Financing activity: | ||||||||||
Purchase of additional controlling interest | ||||||||||
0 | 7,705 | 0 | - | - | - | - | - | - | - | - |
Purchase of additional controlling interests | ||||||||||
- | - | - | 0 | - | - | - | - | - | - | - |