CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2017 |
Mar. 31, 2016 |
| Statement of Cash Flows [Abstract] |
|
|
| Net Income (Loss) Available to Common Stockholders, Basic |
$ 7,084
|
$ 4,571
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
3,847
|
3,734
|
| Provision for losses on accounts receivable |
389
|
523
|
| Stock-based compensation expense |
836
|
1,297
|
| Deferred income tax (benefit) expense |
162
|
379
|
| Amortization of deferred financing costs |
203
|
221
|
| Accretion of discount on convertible subordinated notes |
1,037
|
927
|
| Loss on early extinguishment of debt |
0
|
567
|
| Net (gain) loss on sale and disposal of other assets |
155
|
(187)
|
| Changes in operating assets and liabilities that provided (required) cash: |
|
|
| Accounts and preneed receivables |
303
|
(479)
|
| Inventories and other current assets |
1,976
|
(727)
|
| Intangible and other non-current assets |
80
|
230
|
| Preneed funeral and cemetery trust investments |
(1,404)
|
7,560
|
| Accounts payable |
(2,778)
|
(1,755)
|
| Accrued and other liabilities |
(6,142)
|
344
|
| Deferred preneed funeral and cemetery revenue |
1,308
|
(568)
|
| Deferred preneed funeral and cemetery receipts held in trust |
1,103
|
(6,404)
|
| Net cash provided by operating activities |
8,159
|
10,233
|
| Cash flows from investing activities: |
|
|
| Acquisitions and land for new construction |
0
|
(2,685)
|
| Net proceeds from the sale of other assets |
0
|
555
|
| Capital expenditures |
(3,730)
|
(3,595)
|
| Net cash used in investing activities |
(3,730)
|
(5,725)
|
| Cash flows from financing activities: |
|
|
| Borrowings from the revolving credit facility |
18,800
|
11,500
|
| Payments against the revolving credit facility |
(21,400)
|
(50,100)
|
| Payments against the revolving credit facility |
0
|
39,063
|
| Payments against the term loan |
(2,813)
|
(2,813)
|
| Payments on other long-term debt and obligations under capital leases |
(368)
|
(321)
|
| Payments on contingent consideration recorded at acquisition date |
(101)
|
0
|
| Proceeds from the exercise of stock options and employee stock purchase plan contributions |
315
|
228
|
| Taxes paid on restricted stock vestings and exercise of non-qualified options |
(509)
|
(491)
|
| Dividends paid on common stock |
(833)
|
(415)
|
| Payment of loan origination costs related to the credit facility |
0
|
(717)
|
| Excess tax deficiency of equity compensation |
0
|
(106)
|
| Net cash used in financing activities |
(6,909)
|
(4,172)
|
| Net increase (decrease) in cash and cash equivalents |
(2,480)
|
336
|
| Cash and cash equivalents at beginning of period |
3,286
|
|
| Cash and cash equivalents at end of period |
$ 806
|
$ 871
|