Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 20,405
|
$ 25,625
|
$ 27,122
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
15,342
|
15,989
|
14,663
|
| Impairment charge |
|
|
735
|
| Deferred income taxes |
12,528
|
15,664
|
17,585
|
| Amortization of debt issuance costs |
776
|
797
|
820
|
| Amortization of syndication contracts |
398
|
360
|
440
|
| Payments on syndication contracts |
(388)
|
(510)
|
(578)
|
| Non-cash stock-based compensation |
5,035
|
5,240
|
4,351
|
| (Gain) loss on debt extinguishment |
161
|
204
|
246
|
| Changes in assets and liabilities: |
|
|
|
| (Increase) decrease in trade receivables |
1,397
|
871
|
(6,128)
|
| (Increase) decrease in prepaid expenses and other current assets |
439
|
(499)
|
(1,183)
|
| Increase (decrease) in accounts payable, accrued expenses and other liabilities |
1,203
|
(1,458)
|
(3,661)
|
| Net cash provided by operating activities |
57,296
|
62,283
|
54,412
|
| Cash flows from investing activities: |
|
|
|
| Purchases of property and equipment and intangibles |
(9,053)
|
(13,696)
|
(8,609)
|
| Purchase of a business, net of cash acquired |
|
|
(15,048)
|
| Purchases of short term investments: CDs |
(30,000)
|
|
|
| Proceeds from short term investments: CDs |
30,000
|
|
|
| Purchases of investments |
(500)
|
|
|
| Net cash used in investing activities |
(9,553)
|
(13,696)
|
(23,657)
|
| Cash flows from financing activities: |
|
|
|
| Payments on long-term debt |
(23,750)
|
(23,750)
|
(23,750)
|
| Dividends paid |
(11,177)
|
(9,350)
|
(8,865)
|
| Repurchase of Class A common stock |
|
|
(12,543)
|
| Payment of contingent consideration |
|
(1,000)
|
|
| Net cash used in financing activities |
(34,147)
|
(31,923)
|
(43,317)
|
| Proceeds from stock option exercises, net |
780
|
2,177
|
1,841
|
| Net increase (decrease) in cash and cash equivalents |
13,596
|
16,664
|
(12,562)
|
| Cash and cash equivalents: |
|
|
|
| Beginning |
47,924
|
31,260
|
43,822
|
| Ending |
61,520
|
47,924
|
31,260
|
| Cash payments for: |
|
|
|
| Interest |
14,693
|
12,249
|
15,265
|
| Income taxes |
593
|
750
|
859
|
| Supplemental disclosures of non-cash investing and financing activities: |
|
|
|
| Capital expenditures financed through accounts payable, accrued expenses and other liabilities |
$ 1,068
|
$ 813
|
$ 960
|