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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 122,320 $ 17,673 $ 60,267
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,350 18,280 19,303
Amortization of debt issuance cost 1,347 473 0
Loss on disposal of property and equipment 91 0 42
Impairment of goodwill and intangible assets 0 1,994 3,799
Provision for doubtful accounts 0 (1,363) 3,888
Share-based compensation 3,383 1,547 1,441
Gain on sale of equity method investment (99,839) 0 0
Gain on loan assumption 0 (2,250) 0
Unrealized loss (gain) from investment in equity securities 11 (9) 25
(Income) loss from equity method investments (3,694) 6,901 8,125
Deferred tax (6,620) (6,801) (8,345)
Changes in operating assets and liabilities, net of acquisition amounts:      
Receivables, net 4,134 10,714 (263)
Receivables, net – related parties (1,123) (1,435) (28,363)
Other receivables 12,589 (15,079) 0
Prepaid expenses and other current assets (6,432) (2,756) (2,814)
Right-of-use assets 3,325 2,480 0
Other assets (5,530) (572) 2
Accounts payable and accrued expenses 8,204 (4,883) (22,669)
Fiduciary accounts payable 7,615 488 0
Capitation incentives payable 0 0 (21,500)
Medical liabilities (8,691) (2,392) 4,134
Income taxes payable (304) (7,093) 8,424
Operating lease liabilities (2,973) (2,244) 0
Net cash provided by operating activities 46,163 13,673 25,496
Cash flows from investing activities      
Purchases of marketable securities (1,793) (115,402) (9)
Proceeds from sale of marketable securities 50,625 0 0
Proceeds from repayment of loans receivable - related parties 16,500 0 0
Advances on loans receivable (145) (11,425) (7,500)
Dividends received from equity method investments 0 240 607
Proceeds from sale of fixed assets 50 0 0
Payments for business acquisitions, net of cash acquired (11,354) (49,403) 0
Purchases of investments in privately held entities 0 (491) (405)
Proceeds from sale of equity method investment 52,743 0 0
Purchases of investments – equity method (9,969) (3,108) (16,706)
Purchases of property and equipment (1,164) (1,042) (1,170)
Net cash provided by (used in) investing activities 95,493 (180,631) (25,183)
Cash flows from financing activities      
Dividends paid (51,319) (61,717) (17,759)
Repayments of debt 0 (2,375) 0
Change in noncontrolling interest capital 0 28 27
Borrowings on long-term debt 0 250,000 8,000
Borrowings on line of credit 0 39,600 0
Repayments on bank loan and lines of credit 0 (52,640) (495)
Payment of capital lease obligations (105) (102) (99)
Proceeds from exercise of stock options and warrants 10,802 3,123 3,997
Proceeds from common stock offering 0 755 200
Repurchase of common shares (537) (7,570) (5,047)
Distribution to noncontrolling interest (1,037) 0 0
Cost of debt and equity issuances 0 (5,771) 0
Net cash (used in) provided by financing activities (51,696) 163,331 (11,176)
Net increase (decrease) in cash, cash equivalents and restricted cash 89,960 (3,627) (10,863)
Cash, cash equivalents and restricted cash, beginning of year 104,010 107,637 118,500
Cash, cash equivalents and restricted cash, end of year 193,970 104,010 107,637
Supplemental disclosures of cash flow information      
Cash paid for income taxes 62,002 20,200 23,643
Cash paid for interest 8,510 4,258 462
Supplemental disclosures of non-cash investing and financing activities      
Cashless exercise of warrants 599 0 0
Deferred tax liability adjusted to goodwill 0 6,334 1,110
Reclassification of liability for equity shares 0 1,185 0
Purchase price adjustment for acceleration of vested stock options 0 0 868
Conversion of loan receivable to investment in Accountable Health Care, IPA 0 0 5,000
Reclassification of dividends related to share repurchase 0 0 4,216
Reclassification of APS noncontrolling interest to equity related to purchase of additional shares 0 0 2,832
Deferred tax liability adjustment related to warrant exercises 690 0 0
Preferred shares received from sale of equity method investment 36,179 0 0
Beneficial interest acquired from sale of equity method investment 15,723 0 0
Reconciliation of cash, cash equivalents, and restricted cash      
Cash and cash equivalents 193,470 103,189 106,892
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 193,970 107,637 118,500
Affiliated Entity | APC      
Supplemental disclosures of non-cash investing and financing activities      
APC stock issued in exchange for AMG 0 414 0
Term Loan      
Cash flows from financing activities      
Repayments of debt $ (9,500) $ 0 $ 0