CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2017 |
Sep. 30, 2016 |
| Statement of Cash Flows [Abstract] |
|
|
| Net Income (Loss) Available to Common Stockholders, Basic |
$ 14,532
|
$ 15,454
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
11,874
|
11,498
|
| Provision for losses on accounts receivable |
1,737
|
1,522
|
| Stock-based compensation expense |
2,394
|
2,645
|
| Deferred income tax (benefit) expense |
1,215
|
3,618
|
| Amortization of deferred financing costs |
614
|
622
|
| Accretion of discount on convertible subordinated notes |
3,200
|
2,862
|
| Loss on early extinguishment of debt |
0
|
567
|
| Net loss on sale and disposal of other assets |
341
|
186
|
| Impairment of intangible assets |
0
|
145
|
| Changes in operating assets and liabilities that provided (required) cash: |
|
|
| Accounts and preneed receivables |
(2,594)
|
(3,945)
|
| Inventories and other current assets |
2,356
|
682
|
| Intangible and other non-current assets |
340
|
386
|
| Preneed funeral and cemetery trust investments |
(5,114)
|
(4,828)
|
| Accounts payable |
(3,510)
|
(2,149)
|
| Accrued and other liabilities |
(2,790)
|
292
|
| Deferred preneed funeral and cemetery revenue |
2,098
|
742
|
| Deferred preneed funeral and cemetery receipts held in trust |
4,132
|
4,541
|
| Net cash provided by operating activities |
30,825
|
34,840
|
| Cash flows from investing activities: |
|
|
| Acquisitions and land for new construction |
(723)
|
(15,056)
|
| Purchase of land and buildings previously leased |
0
|
(6,258)
|
| Net proceeds from the sale of other assets |
405
|
955
|
| Capital expenditures |
(13,129)
|
(12,039)
|
| Net cash used in investing activities |
(13,447)
|
(32,398)
|
| Cash flows from financing activities: |
|
|
| Borrowings from the revolving credit facility |
75,100
|
45,500
|
| Payments against the revolving credit facility |
(67,300)
|
(74,800)
|
| Payments against the revolving credit facility |
0
|
39,063
|
| Payments against the term loan |
(8,438)
|
(8,438)
|
| Payments on other long-term debt and obligations under capital leases |
(1,084)
|
(987)
|
| Payments on contingent consideration recorded at acquisition date |
(101)
|
0
|
| Proceeds from the exercise of stock options and employee stock purchase plan contributions |
1,296
|
686
|
| Taxes paid on restricted stock vestings and exercise of non-qualified options |
(509)
|
(560)
|
| Dividends paid on common stock |
(2,503)
|
(1,662)
|
| Purchase of treasury stock |
(16,366)
|
0
|
| Payment of loan origination costs related to the credit facility |
0
|
(717)
|
| Excess tax deficiency of equity compensation |
0
|
(207)
|
| Net cash used in financing activities |
(19,905)
|
(2,122)
|
| Net increase (decrease) in cash and cash equivalents |
(2,527)
|
320
|
| Cash and cash equivalents at beginning of period |
3,286
|
535
|
| Cash and cash equivalents at end of period |
$ 759
|
$ 855
|