| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Net income | ||||||||||
36,214 | 31,294 | 21,154 | 21,431 | 27,302 | 36,544 | 34,759 | 34,262 | 18,298 | 16,122 | 17,235 |
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities: | ||||||||||
Depreciation and amortization of property and equipment | ||||||||||
40,667 | 38,070 | 38,077 | 38,236 | 37,458 | 33,089 | 28,860 | 24,821 | 19,176 | 15,955 | 13,190 |
Amortization of intangible assets | ||||||||||
3,849 | 1,843 | 499 | 886 | 571 | 334 | 335 | 335 | 335 | 335 | 335 |
Stock-based compensation expense | ||||||||||
4,403 | 3,165 | 4,376 | 4,674 | 4,837 | 4,671 | 3,519 | 2,923 | 2,130 | 1,603 | 923 |
Deferred income taxes | ||||||||||
3,602 | 3,649 | -5,091 | 4,205 | 1,558 | 3,655 | 381 | 2,687 | -1,326 | 1,743 | 3,876 |
Excess tax benefit from stock-based awards | ||||||||||
- | - | - | - | - | - | - | - | - | - | 247 |
Gain on sale of property and equipment | ||||||||||
3,543 | 3,832 | 3,664 | 1,341 | 2,257 | 142 | 893 | 1,019 | 1,174 | 750 | 418 |
Other non-cash items | ||||||||||
-1,029 | -237 | -1,194 | -194 | -200 | -139 | 151 | 110 | 44 | 85 | 85 |
Changes in operating assets and liabilities, net of acquisitions: | ||||||||||
Accounts receivable, net | ||||||||||
39,710 | 15,871 | 35,944 | 22,473 | 17,765 | -15,706 | 6,227 | 40,330 | 19,739 | 6,520 | 6,604 |
Contract assets, net | ||||||||||
16,443 | 28,141 | 17,857 | 22,013 | 4,597 | 4,090 | -21,254 | 18,079 | 14,395 | -1,441 | 4,919 |
Construction materials inventory | ||||||||||
- | - | - | - | - | - | - | -4,003 | 4,003 | - | - |
Receivable for insurance claims in excess of deductibles | ||||||||||
9,646 | 9,229 | 39 | 7,187 | -1,021 | 922 | 10 | 1,257 | 1,700 | 340 | -886 |
Other assets | ||||||||||
10,327 | -2,280 | 2,213 | -3,730 | 5,634 | 1,255 | 2,138 | 1,619 | -2,293 | -464 | 1,898 |
Accounts payable | ||||||||||
22,492 | 19,953 | 8,149 | 17,322 | 6,742 | -17,303 | -5,289 | 11,067 | 35,062 | -1,718 | 13,781 |
Contract liabilities | ||||||||||
28,163 | 22,551 | -14,317 | 790 | 1,003 | -14,831 | 20,363 | 7,644 | -20,560 | 19,842 | -7,035 |
Accrued self-insurance | ||||||||||
12,755 | 8,701 | 2,765 | 5,617 | -2,616 | 369 | -472 | 733 | 4,806 | 944 | 219 |
Other liabilities | ||||||||||
-8,606 | 10,119 | -6,287 | 10,419 | -4,823 | -988 | 469 | 3,718 | 11,147 | -4,369 | -5,498 |
Net cash flows provided by (used in) operating activities | ||||||||||
64,899 | 84,789 | -9,198 | 54,490 | 43,000 | 54,976 | 95,062 | 29,999 | 30,394 | 44,837 | 23,911 |
Cash flows from investing activities: | ||||||||||
Proceeds from sale of property and equipment | ||||||||||
4,051 | 4,583 | 4,342 | 3,299 | 2,758 | 320 | 1,151 | 1,204 | 1,306 | 1,278 | 748 |
Cash paid for acquisitions, net of cash acquired | ||||||||||
79,720 | 47,082 | 0 | 12,056 | 13,087 | 0 | 0 | - | - | - | - |
Purchases of property and equipment | ||||||||||
57,828 | 50,704 | 30,843 | 25,371 | 46,599 | 39,045 | 42,725 | 37,249 | 42,342 | 21,895 | 29,680 |
Net cash flows used in investing activities | ||||||||||
-133,497 | -93,203 | -26,501 | -34,128 | -56,928 | -38,725 | -41,574 | -36,045 | -41,036 | -20,617 | -28,932 |
Cash flows from financing activities: | ||||||||||
Repayments on term loan | ||||||||||
- | - | - | - | - | - | - | - | 30,000 | - | - |
Net borrowings (repayments) under revolving lines of credit | ||||||||||
45,514 | -20,655 | 19,890 | 59,070 | 0 | 0 | - | -10,000 | 10,000 | - | - |
Payment of principal obligations under equipment notes | ||||||||||
4,550 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment of principal obligations under finance leases | ||||||||||
1,201 | 1,081 | 1,203 | 740 | 0 | 0 | - | - | - | 42 | 44 |
Borrowings under equipment notes | ||||||||||
35,068 | 31,486 | 0 | 0 | - | - | - | - | - | - | - |
Equity financing costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | 33 |
Proceeds from exercise of stock options | ||||||||||
341 | 1,897 | 1,232 | 6,218 | 1,923 | 725 | 2,304 | 1,417 | - | 671 | 351 |
Debt refinancing costs | ||||||||||
1,122 | 0 | 0 | - | - | 0 | - | 13 | 569 | - | - |
Employee stock option and restricted stock transactions | ||||||||||
- | - | - | - | - | - | - | - | 1,290 | - | - |
Excess tax benefit from stock-based awards | ||||||||||
- | - | - | - | - | 615 | 1,323 | 524 | 1,266 | 198 | 247 |
Repurchase of common shares | ||||||||||
778 | 1,043 | 3,058 | 101,483 | 27,582 | 16,447 | 542 | 108 | - | - | - |
Other financing activities | ||||||||||
84 | 38 | 28 | 1,396 | 1,748 | 38 | 56 | 38 | 45 | - | - |
Net cash flows provided by (used in) financing activities | ||||||||||
73,356 | 10,642 | 16,889 | -35,539 | -23,911 | -15,069 | 3,141 | -8,142 | -17,968 | 827 | 521 |
Effect of exchange rate changes on cash | ||||||||||
132 | -64 | 307 | -774 | 0 | 0 | - | - | - | - | - |
Net increase (decrease) in cash and cash equivalents | ||||||||||
4,890 | 2,164 | -18,503 | -15,951 | -37,839 | 1,182 | 56,629 | -14,188 | -28,610 | 25,047 | -4,500 |
Supplemental Cash Flow Information: | ||||||||||
Cash paid during the period for: | ||||||||||
Income taxes payments | ||||||||||
13,381 | 7,247 | 6,597 | 6,274 | 16,960 | 17,403 | 18,115 | - | - | - | - |
Interest payments | ||||||||||
5,737 | 3,097 | 2,259 | 1,114 | 591 | 577 | 571 | - | - | - | - |
Noncash investing activities: | ||||||||||
Acquisition of property and equipment for which payment is pending | ||||||||||
43 | 953 | 2,050 | 614 | 1,328 | 749 | 804 | - | - | - | - |
Acquisition of property under capital lease arrangements | ||||||||||
- | - | - | 5,658 | 0 | 0 | - | - | - | - | - |
Noncash financing activities: | ||||||||||
Capital lease obligations initiated | ||||||||||
- | - | - | 5,658 | 0 | 0 | - | - | - | - | - |
Share repurchases that have not settled | ||||||||||
- | - | - | - | 896 | 0 | 0 | - | - | - | - |