| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 |
|---|---|---|---|---|---|---|---|---|---|
Net income | |||||||||
40,753 | 43,428 | 43,121 | 41,712 | 37,913 | 44,949 | 50,791 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation, depletion and amortization of long-lived assets | |||||||||
35,623 | 33,531 | 31,231 | 30,090 | 28,652 | 26,784 | 25,321 | 0 | 0 | 0 |
Amortization of deferred debt issuance costs and debt discount | |||||||||
128 | 118 | 109 | 117 | 110 | 102 | 94 | 0 | 0 | 0 |
Provision for bad debt | |||||||||
1,010 | 995 | 995 | 590 | 604 | 604 | 604 | 0 | 0 | 0 |
Gain on sale of equipment | |||||||||
1,626 | 1,884 | 1,909 | 2,360 | 2,388 | 2,581 | 2,392 | 0 | 0 | 0 |
Equity-based compensation expense | |||||||||
1,742 | 1,352 | 957 | 0 | 0 | 0 | - | - | - | - |
Earnings from investment in joint venture | |||||||||
874 | 1,037 | 1,300 | 1,559 | 1,609 | 1,606 | 1,300 | 0 | 0 | 0 |
Other non-cash adjustments | |||||||||
0 | 0 | - | - | 0 | 0 | - | - | - | - |
Deferred income taxes | |||||||||
- | - | - | - | - | - | -481 | 0 | 0 | 0 |
Changes in operating assets and liabilities, net of acquisition: | |||||||||
Contracts receivable including retainage, net | |||||||||
0 | 0 | - | - | 0 | 0 | - | - | - | - |
Contracts receivable including retainage, net | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Costs and estimated earnings in excess of billings on uncompleted contracts | |||||||||
-1,886 | -1,432 | -2,696 | -4,374 | -5,234 | -4,563 | -2,955 | 0 | 0 | 0 |
Inventories | |||||||||
5,493 | 6,379 | 8,826 | 11,403 | 8,369 | 6,022 | 2,746 | 0 | 0 | 0 |
Prepaid expenses and other current assets | |||||||||
0 | 0 | - | - | 0 | 0 | - | - | - | - |
Prepaid expenses and other current assets | |||||||||
- | - | - | - | - | - | 8,886 | 0 | 0 | 0 |
Other assets | |||||||||
-4,453 | -8,019 | -7,986 | -8,270 | -8,038 | 6,940 | 7,787 | 0 | 0 | 0 |
Accounts payable | |||||||||
10,391 | 10,407 | 6,932 | 17,128 | 6,629 | -6,560 | 7,462 | 0 | 0 | 0 |
Billings in excess of costs and estimated earnings on uncompleted contracts | |||||||||
0 | 0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 |
Accrued expenses and other current liabilities | |||||||||
122 | 75 | 2,117 | 2,767 | -3,503 | -3,966 | -4,778 | 0 | 0 | 0 |
Other long-term liabilities | |||||||||
753 | 745 | 813 | 1,522 | 1,063 | 840 | 844 | 0 | 0 | 0 |
Net cash provided by operating activities, net of acquisition | |||||||||
70,451 | 55,610 | 55,274 | 60,424 | 43,296 | 47,842 | 66,121 | 0 | 0 | 0 |
Purchases of property, plant and equipment | |||||||||
57,189 | 58,668 | 42,479 | 41,088 | 40,640 | 40,701 | 42,804 | 0 | 0 | 0 |
Proceeds from sale of equipment | |||||||||
3,290 | 4,412 | 4,456 | 4,940 | 5,029 | 5,276 | 4,931 | 0 | 0 | 0 |
Business acquisitions, net of cash acquired | |||||||||
35,191 | 31,602 | 13,854 | 0 | 0 | 0 | - | - | - | - |
Distributions received from investment in joint venture | |||||||||
1,200 | 1,200 | 2,500 | 2,200 | 1,800 | 1,800 | 0 | 0 | 0 | 0 |
Net cash used in investing activities | |||||||||
-87,890 | -95,506 | -60,225 | -53,650 | -104,832 | -85,344 | -89,592 | 0 | 0 | 0 |
Cash flows from financing activities: | |||||||||
Repayments on revolving credit facility | |||||||||
- | - | - | - | - | - | 5,000 | 0 | 0 | 0 |
Proceeds from issuance of long-term debt, net of debt issuance costs and discount | |||||||||
24,777 | 9,777 | 0 | 0 | 0 | 0 | - | - | - | - |
Repayments of long-term debt | |||||||||
14,889 | 11,439 | 13,001 | 14,800 | 14,767 | 13,572 | 12,361 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | |||||||||
9,322 | -2,228 | -13,567 | -22,309 | 97,650 | 98,850 | 95,061 | 0 | 0 | 0 |
Net change in cash and cash equivalents | |||||||||
-8,117 | -42,124 | -18,518 | 0 | 0 | 0 | - | - | - | - |
Net change in cash and cash equivalents | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Supplemental cash flow information: | |||||||||
Cash paid for interest | |||||||||
2,198 | 2,388 | 2,639 | 2,756 | 2,731 | 2,594 | 2,336 | 0 | 0 | 0 |
Cash paid for income taxes | |||||||||
10,987 | 9,359 | 9,119 | 5,032 | 13,182 | 13,501 | 14,357 | 0 | 0 | 0 |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | |||||||||
0 | 0 | - | - | 0 | 0 | - | - | - | - |
Cash paid for operating lease liabilities | |||||||||
0 | 0 | - | - | 0 | 0 | - | - | - | - |
Non-cash items: | |||||||||
Property, plant and equipment financed with accounts payable | |||||||||
1,329 | 1,117 | 904 | 575 | -1,583 | 573 | 395 | 0 | 0 | 0 |
Note receivable obtained in consideration for disposition of assets | |||||||||
- | - | - | - | - | - | - | - | - | 0 |