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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 104,541 $ 74,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Distributions from unconsolidated subsidiaries 7,830 10,933
Depreciation and amortization 98,495 80,872
Provision for bad debts 102 745
Equity in earnings of unconsolidated subsidiaries (9,482) (11,187)
Loss on extinguishment of debt 484 6,527
Gain on sale of assets and businesses (6,980) (9,523)
Stock compensation expense 10,911 9,270
Amortization of debt discount, premium and issuance costs 6,486 5,974
Deferred income taxes (1,691) (1,474)
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable (5,774) (140,949)
Other current assets (3,011) (5,557)
Other assets 6,684 4,621
Accounts payable (5,462) 759
Accrued expenses 1,207 (4,833)
Income taxes 12,610 19,399
Net cash provided by (used in) operating activities 216,950 40,340
Investing activities    
Business combinations, net of cash acquired (517,704) (18,508)
Purchases of property and equipment (81,648) (105,302)
Investment in businesses (3,291) (9,874)
Proceeds from sale of assets and businesses 6,672 34,552
Net cash provided by (used in) investing activities (595,971) (99,132)
Financing activities    
Borrowings on revolving facilities 265,000 630,000
Payments on revolving facilities (345,000) (550,000)
Proceeds from term loans 779,904 1,139,487
Payments on term loans (5,750) (1,173,692)
Revolving facility debt issuance costs (1,333) (4,392)
Borrowings of other debt 19,928 9,444
Principal payments on other debt (11,521) (10,437)
Repurchase of common stock (889) (600)
Dividends paid to Holdings 0 0
Proceeds from exercise of stock options 1,620 963
Equity investment by Holdings 0 0
Decrease in overdrafts (6,171) (5,228)
Proceeds from issuance of non-controlling interests 2,926 3,553
Distributions to non-controlling interests (301,213) (5,536)
Net cash provided by (used in) financing activities 397,501 33,562
Net increase (decrease) in cash and cash equivalents 18,480 (25,230)
Cash and cash equivalents at beginning of period 122,549 99,029
Cash and cash equivalents at end of period 141,029 73,799
Supplemental Information    
Cash paid for interest 97,338 76,650
Cash paid for taxes 22,480 27,626
Non-cash equity exchange for acquisition of U.S. HealthWorks 238,000 0
Select Medical Corporation    
Operating activities    
Net income 104,541 74,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Distributions from unconsolidated subsidiaries 7,830 10,933
Depreciation and amortization 98,495 80,872
Provision for bad debts 102 745
Equity in earnings of unconsolidated subsidiaries (9,482) (11,187)
Loss on extinguishment of debt 484 6,527
Gain on sale of assets and businesses (6,980) (9,523)
Stock compensation expense 10,911 9,270
Amortization of debt discount, premium and issuance costs 6,486 5,974
Deferred income taxes (1,691) (1,474)
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable (5,774) (140,949)
Other current assets (3,011) (5,557)
Other assets 6,684 4,621
Accounts payable (5,462) 759
Accrued expenses 1,207 (4,833)
Income taxes 12,610 19,399
Net cash provided by (used in) operating activities 216,950 40,340
Investing activities    
Business combinations, net of cash acquired (517,704) (18,508)
Purchases of property and equipment (81,648) (105,302)
Investment in businesses (3,291) (9,874)
Proceeds from sale of assets and businesses 6,672 34,552
Net cash provided by (used in) investing activities (595,971) (99,132)
Financing activities    
Borrowings on revolving facilities 265,000 630,000
Payments on revolving facilities (345,000) (550,000)
Proceeds from term loans 779,904 1,139,487
Payments on term loans (5,750) (1,173,692)
Revolving facility debt issuance costs (1,333) (4,392)
Borrowings of other debt 19,928 9,444
Principal payments on other debt (11,521) (10,437)
Repurchase of common stock 0 0
Dividends paid to Holdings (889) (600)
Proceeds from exercise of stock options 0 0
Equity investment by Holdings 1,620 963
Decrease in overdrafts (6,171) (5,228)
Proceeds from issuance of non-controlling interests 2,926 3,553
Distributions to non-controlling interests (301,213) (5,536)
Net cash provided by (used in) financing activities 397,501 33,562
Net increase (decrease) in cash and cash equivalents 18,480 (25,230)
Cash and cash equivalents at beginning of period 122,549 99,029
Cash and cash equivalents at end of period 141,029 73,799
Supplemental Information    
Cash paid for interest 97,338 76,650
Cash paid for taxes 22,480 27,626
Non-cash equity exchange for acquisition of U.S. HealthWorks $ 238,000 $ 0