| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
37,586 | 52,178 | 28,153 | 24,244 | 40,001 | 45,370 | 50,572 | 47,688 | 51,446 | 45,709 | 4,900 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
74,765 | 54,425 | 46,995 | 36,702 | 34,873 | 33,053 | 19,686 | 18,237 | 17,731 | 17,539 | 10,354 |
Noncash lease expense | ||||||||||
29,904 | - | - | - | - | - | - | - | - | - | - |
Loss (gain) on marketable equity securities | ||||||||||
1,540 | -1,306 | 923 | 412 | 347 | - | 107 | 2,189 | 1,136 | 5,370 | - |
Other-than-temporary impairment of marketable securities | ||||||||||
- | - | - | - | 230 | - | - | - | - | - | 1,258 |
Gain on disposal of property and equipment | ||||||||||
1,245 | 354 | 10 | -161 | -239 | -233 | 117 | -45 | -2 | -180 | -266 |
Amortization of debt issuance costs | ||||||||||
586 | 1,329 | 321 | 312 | 648 | 693 | - | - | - | - | - |
Gain on life insurance policies | ||||||||||
- | 1,025 | - | - | - | - | - | - | - | - | - |
Write-off of debt issuance costs | ||||||||||
- | 366 | - | - | 1,272 | - | - | - | - | - | - |
Change in the fair value of acquisition related contingent consideration | ||||||||||
- | - | - | - | - | - | - | -16 | 137 | 145 | - |
Non-cash charges incurred from LINC | ||||||||||
- | - | - | - | - | - | - | 2,442 | - | - | - |
Stock-based compensation | ||||||||||
73 | 413 | 414 | 571 | 494 | 1,485 | 585 | 586 | - | - | - |
Provision for doubtful accounts | ||||||||||
3,133 | 924 | 1,533 | 3,099 | 3,004 | 3,504 | 1,515 | 1,190 | 1,306 | 1,717 | 2,136 |
Deferred income taxes | ||||||||||
7,161 | 6,583 | -19,014 | 6,610 | 478 | 1,433 | 2,495 | 4,389 | 4,289 | -664 | 1,603 |
Change in assets and liabilities: | ||||||||||
Trade and other accounts receivable | ||||||||||
-21,798 | 26,466 | 29,398 | 7,510 | -4,424 | 19,857 | -767 | 8,076 | 7,865 | 13,076 | -7,023 |
Prepaid income taxes, prepaid expenses and other assets | ||||||||||
2,230 | -2,509 | -8,051 | 12,748 | -4,347 | -984 | 3,594 | -1,276 | 4,655 | -2,751 | 3,107 |
Principal reduction in operating lease liabilities | ||||||||||
-29,061 | - | - | - | - | - | - | - | - | - | - |
Accounts payable, accrued expenses and other current liabilities, insurance and claims, and income taxes payable | ||||||||||
-13,791 | -2,139 | 40,633 | 18,003 | -11,695 | 13,027 | -15,152 | 7,922 | 16,083 | -5,138 | -1,127 |
Due to/from affiliates, net | ||||||||||
-623 | -3,238 | -7,192 | -595 | -83 | 1 | -837 | 3,769 | 363 | -3,252 | -142 |
Other long-term liabilities | ||||||||||
274 | 1,614 | -98 | -998 | 253 | -532 | 103 | 646 | 1,999 | 130 | -531 |
Net cash provided by operating activities | ||||||||||
128,036 | 94,901 | 83,849 | 68,629 | 78,304 | 79,392 | 57,590 | 70,403 | 78,700 | 46,885 | 22,917 |
Cash flows from investing activities: | ||||||||||
Capital expenditures | ||||||||||
79,753 | 66,585 | 63,360 | 97,351 | 26,257 | 59,784 | 17,035 | 29,566 | 29,603 | 12,917 | 22,262 |
Proceeds from the sale of property and equipment | ||||||||||
11,152 | 3,897 | 1,211 | 2,426 | 816 | 1,326 | 1,790 | 987 | 1,190 | 633 | 442 |
Purchases of marketable securities | ||||||||||
92 | 1,228 | 401 | 17 | 1,159 | 2,063 | 24 | 19 | 3,383 | 2,582 | 6,004 |
Proceeds from sale of marketable securities | ||||||||||
1,596 | 5,733 | 1,261 | 866 | 441 | - | 520 | 7,500 | 2,398 | 11,364 | 93 |
Proceeds from life insurance policies | ||||||||||
- | 2,583 | - | - | - | - | - | - | - | - | - |
Advance for acquisition of business | ||||||||||
- | - | - | - | - | - | - | - | - | - | -2,658 |
Acquisition of business | ||||||||||
75,963 | 173,599 | - | - | - | - | - | - | - | - | - |
Proceeds from affiliate notes receivable-LINC | ||||||||||
- | - | - | - | - | - | - | 5,000 | - | - | - |
Affiliate notes receivables-LINC | ||||||||||
- | - | - | - | - | - | - | 5,000 | - | -4,500 | - |
Payment of earnout obligations related to acquisitions | ||||||||||
- | - | - | - | - | - | 24 | - | - | 232 | 505 |
Net cash used in investing activities | ||||||||||
-143,060 | -229,199 | -61,289 | -94,076 | -26,159 | -63,169 | -135,806 | -21,948 | -30,448 | 325 | -34,393 |
Cash flows from financing activities: | ||||||||||
Proceeds from borrowing - revolving debt | ||||||||||
379,458 | 488,571 | 316,458 | 220,633 | 172,758 | 135,019 | 48,218 | 94,871 | 34,165 | 16,815 | - |
Repayments of debt - revolving debt | ||||||||||
308,821 | 477,667 | 320,833 | 217,368 | 161,293 | 135,149 | 52,218 | 44,871 | 44,664 | 9,880 | - |
Proceeds from borrowing - term debt | ||||||||||
56,494 | 255,169 | 39,069 | 99,534 | 163,578 | 2,500 | 95,500 | 82,000 | 41,082 | - | - |
Repayments of debt - term debt | ||||||||||
70,016 | 112,157 | 48,305 | 78,520 | 175,428 | 4,572 | - | 69,061 | 10,976 | 10,271 | - |
Repayments under margin account | ||||||||||
541 | - | - | - | - | - | - | - | - | - | - |
Distributions to LINC shareholders | ||||||||||
- | - | - | - | - | - | - | 95,985 | 53,790 | 31,316 | - |
Dividends paid | ||||||||||
15,042 | 10,930 | 7,960 | 7,954 | 8,171 | 8,409 | 4,209 | - | - | - | 15,983 |
Pre-merger dividends paid | ||||||||||
- | - | - | - | - | - | - | 15,499 | 15,555 | - | - |
Payment of capital lease obligations | ||||||||||
- | 92 | 100 | 1,789 | 1,050 | 1,349 | 42 | - | - | - | - |
Purchases of treasury stock | ||||||||||
24,785 | 930 | 1,488 | 26 | 35,065 | 5,631 | 6 | 991 | 1,700 | 4,567 | 355 |
Payment of earnout obligations related to acquisitions | ||||||||||
- | - | - | - | - | - | - | 206 | 189 | 364 | - |
Capitalized financing costs | ||||||||||
- | 3,137 | - | 396 | 1,499 | - | 1,230 | 1,752 | 929 | - | - |
Net cash provided by (used in) financing activities | ||||||||||
16,747 | 138,827 | -23,159 | 14,114 | -46,170 | -17,591 | 85,989 | -51,494 | -52,556 | -39,583 | -16,338 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
276 | -474 | 516 | 158 | -1,046 | -854 | -104 | 82 | 42 | -10 | - |
Net increase in cash | ||||||||||
1,999 | 4,055 | -83 | -11,175 | 4,929 | -2,222 | 7,669 | -2,957 | -4,262 | 7,617 | -27,814 |
Supplemental cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
16,349 | 13,323 | 9,104 | 7,802 | 7,649 | 7,379 | 3,595 | 2,990 | 1,668 | 1,746 | 356 |
Cash paid for income taxes | ||||||||||
12,459 | 4,792 | 2,207 | 20,896 | 21,541 | 20,833 | 31,236 | 12,759 | 13,051 | 9,977 | 4,367 |
Distributions to LINC shareholders: | ||||||||||
Purchase adjustment pursuant to merger agreement | ||||||||||
- | - | - | - | - | - | - | -10,102 | - | - | - |
Distribution for shareholder state tax withholding | ||||||||||
- | - | - | - | - | - | - | 383 | 290 | 116 | - |
Net cash paid | ||||||||||
- | - | - | - | - | - | - | 95,985 | 53,790 | 31,316 | - |
Acquisition of businesses: | ||||||||||
Fair value of assets acquired, net of cash | ||||||||||
- | - | - | - | - | 1,270 | 156,741 | -1,100 | -1,406 | 5,825 | 5,058 |
Liabilities assumed | ||||||||||
- | - | - | - | - | - | 33,738 | - | - | 2,453 | -803 |
Fair value of acquisition obligations | ||||||||||
- | - | - | - | - | - | 2,196 | -250 | -356 | 434 | - |
Acquisition obligations | ||||||||||
- | - | - | - | - | - | - | - | - | - | -756 |
Advances made for acquisitions of businesses in 2009 | ||||||||||
- | - | - | - | - | - | - | - | - | 2,647 | - |
Payment of acquisition obligations | ||||||||||
- | - | - | - | - | 1,378 | 250 | - | - | 150 | - |
Net cash paid for acquisition of businesses | ||||||||||
- | - | - | - | - | 2,648 | 121,057 | 850 | 1,050 | 441 | 3,499 |
Non-cash investing and financing activities | ||||||||||
Non-cash capital expenditures pursuant to promissory note. | ||||||||||
- | - | - | 3,700 | - | - | - | - | - | - | - |
Forgiveness of loan from County of Cuyahoga | ||||||||||
- | - | - | - | - | - | - | - | - | - | 90 |