|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
$ 133,825 |
$ 13,601 |
$ (8,200) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
|
| Depreciation and amortization |
14,953 |
16,426 |
18,653 |
| Deferred income taxes |
(134,975) |
6,477 |
4,565 |
| Amortization of debt issuance costs |
1,647 |
2,284 |
2,207 |
| Amortization of syndication contracts |
587 |
707 |
1,482 |
| Payments on syndication contracts |
(1,258) |
(1,698) |
(1,976) |
| Non-cash stock-based compensation |
4,771 |
2,651 |
2,343 |
| Other (income) loss |
|
|
(687) |
| (Gain) loss on debt extinguishment |
29,675 |
3,743 |
423 |
| Changes in assets and liabilities, net of effect of acquisitions and dispositions: |
|
|
|
| (Increase) decrease in restricted cash |
|
|
809 |
| (Increase) decrease in accounts receivable |
(8,706) |
(3,740) |
(574) |
| (Increase) decrease in prepaid expenses and other assets |
(509) |
321 |
336 |
| Increase (decrease) in accounts payable, accrued expenses and other liabilities |
(7,255) |
(740) |
(1,770) |
| Net cash provided by (used in) operating activities |
32,755 |
40,032 |
17,611 |
| Cash flows from investing activities: |
|
|
|
| Purchases of property and equipment and intangibles |
(10,174) |
(9,856) |
(8,524) |
| Purchase of a business |
|
|
(598) |
| Net cash provided by (used in) investing activities |
(10,174) |
(9,856) |
(9,122) |
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of common stock |
2,806 |
23 |
42 |
| Payments on long-term debt |
(375,984) |
(61,800) |
(17,071) |
| Dividends paid |
(11,014) |
(10,313) |
(5,102) |
| Proceeds from borrowings on long-term debt |
375,000 |
20,000 |
|
| Payments of capitalized debt offering and issuance costs |
(5,697) |
(675) |
(29) |
| Net cash provided by (used in) financing activities |
(14,889) |
(52,765) |
(22,160) |
| Net increase (decrease) in cash and cash equivalents |
7,692 |
(22,589) |
(13,671) |
| Cash and cash equivalents: |
|
|
|
| Beginning |
36,130 |
58,719 |
72,390 |
| Ending |
43,822 |
36,130 |
58,719 |
| Cash payments for: |
|
|
|
| Interest |
32,586 |
35,422 |
36,428 |
| Income taxes |
$ 838 |
$ (365) |
$ 1,225 |