Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 36,578 $ 21,206
Reconciliations of net income to net cash provided by operating activities:    
Depreciation and amortization 2,909 3,228
Non-cash lease expense 5,243  
Investment (accretion) amortization and (gains) losses recognized 940 36
Share-based compensation 5,501 3,992
Changes in certain operating assets and liabilities:    
Trade accounts receivable (35,870) (25,910)
Income taxes receivable   1,686
Prepaid expenses and other (2,094) (6,720)
Accounts payable 1,096 (702)
Accrued payroll, payroll taxes and related benefits 40,763 13,079
Other accrued liabilities (7,322) (772)
Income taxes payable (995) 2,429
Workers' compensation claims liabilities 16,857 35,391
Safety incentives liability (1,483) 68
Operating lease liabilities (4,673)  
Other assets and liabilities, net 75 (109)
Net cash provided by operating activities 57,525 46,902
Cash flows from investing activities:    
Purchase of property and equipment (7,672) (4,442)
Purchase of investments (658) (1,688)
Proceeds from sales and maturities of investments 15,941 1,481
Purchase of restricted investments (3,946) (103,861)
Proceeds from sales and maturities of restricted investments 42,409 54,819
Net cash provided by (used in) investing activities 46,074 (53,691)
Cash flows from financing activities:    
Proceeds from credit-line borrowings 18,843 8,500
Payments on credit-line borrowings (18,843) (8,500)
Payments on long-term debt (166) (165)
Common stock repurchased on vesting of stock awards (3,136) (2,952)
Dividends paid (5,954) (5,499)
Proceeds from exercise of stock options 458 324
Net cash used in financing activities (8,798) (8,292)
Net increase (decrease) in cash, cash equivalents and restricted cash 94,801 (15,081)
Cash, cash equivalents and restricted cash, beginning of period 140,702 120,205
Cash, cash equivalents and restricted cash, end of period $ 235,503 $ 105,124