Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 8,103 $ 11,607
Reconciliations of net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,171 1,939
Non-cash lease expense 3,545 3,509
Investment (accretion) amortization and (gains) losses recognized 283 26
Deferred Income taxes 3,890  
Share-based compensation 1,139 3,828
Changes in certain operating assets and liabilities:    
Trade accounts receivable (24,822) (11,631)
Income taxes (2,171) (1,733)
Prepaid expenses and other (2,458) (1,840)
Accounts payable (1,042) 488
Accrued payroll, payroll taxes and related benefits 8,035 24,740
Other accrued liabilities (2,759) (4,658)
Workers' compensation claims liabilities (102,572) 17,470
Safety incentives liability (2,183) (1,894)
Operating lease liabilities (3,405) (3,032)
Other assets and liabilities, net (143) 46
Net cash (used in) provided by operating activities (114,389) 38,865
Cash flows from investing activities:    
Purchase of property, equipment and software (5,725) (5,127)
Purchase of investments (23,722) (117)
Proceeds from sales and maturities of investments 38,547 15,262
Purchase of restricted investments (29,570) (3,245)
Proceeds from sales and maturities of restricted investments 22,453 34,765
Net cash provided by investing activities 1,983 41,538
Cash flows from financing activities:    
Proceeds from credit-line borrowings   18,843
Payments on credit-line borrowings   (18,843)
Payments on long-term debt (110) (111)
Common stock repurchased on vesting of stock awards (488) (178)
Dividends paid (4,534) (3,705)
Proceeds from exercise of stock options 2,714 178
Net cash used in financing activities (5,405) (3,816)
Repurchase of common stock (2,987)  
Net (decrease) increase in cash, cash equivalents and restricted cash (117,811) 76,587
Cash, cash equivalents and restricted cash, beginning of period 273,341 140,702
Cash, cash equivalents and restricted cash, end of period $ 155,530 $ 217,289