| Schedule of Error Corrections and Prior Period Adjustments |
The effects of the corrections to each of the individual affected line items in our Consolidated Statements of Income were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2019 | | Year Ended December 31, 2018 | | (In thousands, except per share data) | | As Previously Reported | | Correction | | As Corrected | | As Previously Reported | | Correction | | As Corrected | | Revenue | | $ | 1,382,642 | | | $ | (117) | | | $ | 1,382,525 | | | $ | 1,279,304 | | | $ | (268) | | | $ | 1,279,036 | | | Cost of revenue | | 1,252,711 | | | 1,849 | | | 1,254,560 | | | 1,164,609 | | | — | | | 1,164,609 | | | Operating income | | 51,615 | | | (1,966) | | | 49,649 | | | 48,323 | | | (268) | | | 48,055 | | | Income from operations before income taxes | | 45,145 | | | (1,966) | | | 43,179 | | | 43,252 | | | (268) | | | 42,984 | | | Income tax expense | | 10,429 | | | (426) | | | 10,003 | | | 7,956 | | | (58) | | | 7,898 | | | Net income | | $ | 34,716 | | | $ | (1,540) | | | $ | 33,176 | | | $ | 35,296 | | | $ | (210) | | | $ | 35,086 | | | | | | | | | | | | | | | | Earnings per share | | | | | | | | | | | | | | Basic | | $ | 3.03 | | | $ | (0.13) | | | $ | 2.90 | | | $ | 3.14 | | | $ | (0.01) | | | $ | 3.13 | | | Diluted | | $ | 2.99 | | | $ | (0.13) | | | $ | 2.86 | | | $ | 3.10 | | | $ | (0.02) | | | $ | 3.08 | |
The effects of the corrections to each of the individual affected line items on our Consolidated Statements of Comprehensive Income were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2019 | | Year Ended December 31, 2018 | | (In thousands) | | As Previously Reported | | Correction | | As Corrected | | As Previously Reported | | Correction | | As Corrected | | Net income | | $ | 34,716 | | | $ | (1,540) | | | $ | 33,176 | | | $ | 35,296 | | | $ | (210) | | | $ | 35,086 | | | Total comprehensive income | | $ | 32,792 | | | $ | (1,540) | | | $ | 31,252 | | | $ | 33,818 | | | $ | (210) | | | $ | 33,608 | |
The effects of the corrections to each of the individual affected line items on our Consolidated Balance Sheet were as follows: | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | (In thousands) | | As Previously Reported | | Correction | | As Corrected | | Receivables | | $ | 269,239 | | | $ | (95) | | | $ | 269,144 | | | Total current assets | | 320,711 | | | (95) | | | 320,616 | | | Total Assets | | 636,484 | | | (95) | | | 636,389 | | | Other accrued liabilities | | 34,587 | | | 2,822 | | | 37,409 | | | Total current liabilities | | 242,257 | | | 2,822 | | | 245,079 | | | Deferred tax liability | | 49,808 | | | (401) | | | 49,407 | | | Total non-current liabilities | | 132,846 | | | (401) | | | 132,445 | | | Total Liabilities | | 375,103 | | | 2,421 | | | 377,524 | | | Retained earnings | | 187,591 | | | (2,516) | | | 185,075 | | | Total shareholders' equity | | 261,381 | | | (2,516) | | | 258,865 | | | Total Liabilities and Shareholders' Equity | | $ | 636,484 | | | $ | (95) | | | $ | 636,389 | |
The effects of the corrections to each of the individual affected line items on our Consolidated Statements of Cash Flows were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2019 | | Year Ended December 31, 2018 | | (In thousands) | | As Previously Reported | | Correction | | As Corrected | | As Previously Reported | | Correction | | As Corrected | | Net income | | $ | 34,716 | | | $ | (1,540) | | | $ | 33,176 | | | $ | 35,296 | | | $ | (210) | | | $ | 35,086 | | | Changes in receivables | | (21,148) | | | 95 | | | (21,053) | | | (24,646) | | | — | | | (24,646) | | | Changes in deferred taxes | | (6,772) | | | (401) | | | (7,173) | | | 475 | | | — | | | 475 | | | Changes in other liabilities | | 6,087 | | | 1,846 | | | 7,933 | | | (1,681) | | | 210 | | | (1,471) | | | Net cash provided in operating activities | | $ | 27,557 | | | $ | — | | | $ | 27,557 | | | $ | 40,056 | | | $ | — | | | $ | 40,056 | |
The effects of the corrections to each of the individual affected line items on our Consolidated Statements of Changes in Shareholders' Equity were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Retained Earnings | | Total Shareholders' Equity | | (In thousands) | | As Previously Reported | | Correction | | As Corrected | | As Previously Reported | | Correction | | As Corrected | | Balance at December 31, 2017 | | $ | 117,415 | | | $ | (766) | | | $ | 116,649 | | | $ | 183,372 | | | $ | (766) | | | $ | 182,606 | | | Net Income | | 35,296 | | | (210) | | | 35,086 | | | 35,296 | | | (210) | | | 35,086 | | | Balance at December 31, 2018 | | 152,616 | | | (976) | | | 151,640 | | | 221,300 | | | (976) | | | 220,324 | | | Net Income | | 34,716 | | | (1,540) | | | 33,176 | | | 34,716 | | | (1,540) | | | 33,176 | | | Balance at December 31, 2019 | | $ | 187,591 | | | $ | (2,516) | | | $ | 185,075 | | | $ | 261,381 | | | $ | (2,516) | | | $ | 258,865 | |
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| Schedule of Useful Lives |
Depreciation and amortization are generally computed using either an accelerated or straight-line method and is based on estimated useful lives or lease terms as follows: | | | | | | | | | | | Years | | Buildings and improvements | | 3 – 10 | | Machinery, equipment and vehicles | | 3 – 12 | | Office furniture and equipment, computers and software | | 3 – 7 |
Property, plant and equipment, net consisted of the following at December 31: | | | | | | | | | | | | | | | | (In thousands) | | 2020 | | 2019 | | Buildings and improvements | | $ | 2,143 | | | $ | 1,830 | | | Machinery, equipment and vehicles | | 17,774 | | | 15,052 | | | Office furniture and equipment, computers and software | | 17,346 | | | 12,998 | | | Property, plant and equipment, gross | | 37,263 | | | 29,880 | | | Less: accumulated depreciation and amortization | | (14,690) | | | (11,036) | | | Property, plant and equipment, net | | $ | 22,573 | | | $ | 18,844 | |
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