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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 83,988 $ 8,214
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 9,330 8,872
Amortization of debt issuance costs 658 0
Provision for doubtful accounts 0 (1,363)
Share-based compensation 1,910 676
Unrealized loss (gain) from investment in equity securities 25 (15)
(Income) loss from equity method investments (2,888) 892
Gain on sale of equity method investments (99,647) 0
Deferred tax (4,473) (549)
Changes in operating assets and liabilities, net of business combinations:    
Receivables, net (6,284) 588
Receivables, net – related parties (11,191) (12,665)
Other receivables 966 (11,897)
Prepaid expenses and other current assets (873) (2,740)
Right-of-use assets 1,680 1,098
Other assets (5,095) (243)
Accounts payable and accrued expenses (3,043) 3,340
Fiduciary accounts payable (174) 260
Medical liabilities 11,252 (3,819)
Income taxes payable 37,681 (11,622)
Operating lease liabilities (1,247) (1,044)
Net cash provided by (used in) operating activities 12,575 (22,017)
Cash flows from investing activities    
Payments for business acquisition, net of cash acquired 0 (41,518)
Proceeds from repayment of loans receivable – related parties 16,500 0
Advances on loans receivable 0 (6,425)
Purchases of marketable securities (1,142) (8)
Purchases of investment – equity method (500) (2,158)
Proceeds from sale of equity method investment 52,743 0
Purchases of property and equipment (451) (378)
Dividend received 0 240
Net cash provided by (used in) investing activities 67,150 (50,247)
Cash flows from financing activities    
Repayment of bank loan and lines of credit 0 (8,040)
Dividends paid (30,187) (10,942)
Repayment of term loan (2,375) 0
Payment of finance lease obligations (61) (50)
Proceeds from the exercise of stock options and warrants 2,863 898
Repurchase of shares (788) (40)
Borrowings on line of credit 0 39,600
Proceeds from common stock offering 0 205
Net cash (used in) provided by financing activities (30,548) 21,631
Net increase (decrease) in cash, cash equivalents and restricted cash 49,177 (50,633)
Cash, cash equivalents and restricted cash, beginning of period 104,010 107,637
Cash, cash equivalents and restricted cash, end of period 153,187 57,004
Supplementary disclosures of cash flow information:    
Cash paid for income taxes 0 16,700
Cash paid for interest 2,623 439
Supplemental disclosures of non-cash investing and financing activities    
Deferred tax liability adjustment to goodwill 0 8,355
Preferred shares received from sale of equity method investment 36,179 0
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 152,441 52,726
Restricted cash – non-current 746 4,278
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 153,187 $ 57,004