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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 49,294 $ 122,320 $ 17,673
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,517 18,350 18,280
Amortization of debt issuance cost 1,078 1,347 473
Other 189 0 0
Loss of disposal of property and equipment 0 91 0
Impairment of goodwill and intangible assets 0 0 1,994
Provision for doubtful accounts 0 0 (1,363)
Share-based compensation 6,745 3,383 1,547
Gain on sale of equity method investment (2,193) (99,839) 0
Gain on consolidation of equity method investment (2,752) 0 0
Gain on contingent equity securities (4,270) 0 0
Gain on loan assumption 0 0 (2,250)
Unrealized loss (gain) from investment in equity securities 10,845 11 (9)
Gain from investment in warrants (1,145) 0
Loss in interest rate swaps 1,071 0 0
Impairment of beneficial interest 15,723 0 0
Loss (income) from equity method investments, net 4,306 (3,694) 6,901
Deferred tax (5,952) (6,620) (6,801)
Changes in operating assets and liabilities, net of acquisition amounts:      
Receivable, net (1,518) 4,134 10,714
Receivable, net – related parties (20,116) (1,123) (1,435)
Other receivable (5,351) 12,589 (15,079)
Prepaid expenses and other current assets 2,708 (6,432) (2,756)
Right-of-use assets 3,133 3,325 2,480
Other assets (1,529) (5,530) (572)
Accounts payable and accrued expenses 3,217 8,204 (4,883)
Fiduciary accounts payable 892 7,615 488
Medical liabilities 5,279 (8,691) (2,392)
Income taxes payable (3,621) (304) (7,093)
Operating lease liabilities (3,215) (2,973) (2,244)
Net cash provided by operating activities 70,335 46,163 13,673
Cash flows from investing activities      
Purchases of marketable securities (28,000) (1,793) (115,402)
Proceeds from sale of marketable securities 67,612 50,625 0
Proceeds from repayment of loans receivable - related parties 56 16,500 0
Advances on loans receivable 0 (145) (11,425)
Dividends received from equity method investments 0 0 240
Proceeds from sale of fixed assets 0 50 0
Payments for business acquisition, net of cash acquired (2,585) (11,354) (49,403)
Purchases of investments in privately held entities 0 0 (491)
Proceeds from sale of equity method investment 6,375 52,743 0
Purchases of investments – equity method (13,622) (9,969) (3,108)
Purchases of property and equipment (19,223) (1,164) (1,042)
Cash recorded from consolidation of VIE 5,927 0 0
Net cash provided by (used in) investing activities 16,540 95,493 (180,631)
Cash flows from financing activities      
Dividends paid (31,089) (51,319) (61,717)
Repayment of term loan 0 (9,500) 0
Change in non-controlling interest capital 48 0 28
Borrowings on long-term debt 569 0 250,000
Borrowings on line of credit 180,000 0 39,600
Repayments on long-term debt (201) 0 (2,375)
Repayments on bank loan and lines of credit (238,125) 0 (52,640)
Payment of capital lease obligations (208) (105) (102)
Proceeds from exercise of stock options and warrants 9,061 10,802 3,123
Proceeds from sale of shares 40,134 0 0
Proceeds from common stock offering 0 0 755
Repurchase of common shares (5,739) (537) (7,570)
Distribution to non-controlling interest (1,471) (1,037) 0
Cost of debt and equity issuances (727) 0 (5,771)
Net cash (used in) provided by financing activities (47,748) (51,696) 163,331
Net increase (decrease) in cash, cash equivalents, and restricted cash 39,127 89,960 (3,627)
Cash, cash equivalents, and restricted cash, beginning of year 193,970 104,010 107,637
Cash, cash equivalents and restricted cash, end of year 233,097 193,970 104,010
Supplemental disclosures of cash flow information      
Cash paid for income taxes 37,201 62,002 20,200
Cash paid for interest 4,158 8,510 4,258
Supplemental disclosures of non-cash investing and financing activities      
Issuance of financing obligation for business combinations 12,706 0 0
Cashless exercise of warrants 0 599 0
Cancellation of Restricted Stock Awards 334 0 0
Dividend declared included in dividend payable 71 485 271
Reclassification of liability for equity shares 0 0 1,185
Deferred tax liability adjustment related to warrant exercises 0 690 0
Preferred shares received from sale of equity method investment 0 36,179 0
Beneficial interest acquired from sale of equity method investment 0 15,723 0
Reconciliation of cash, cash equivalents, and restricted cash      
Cash and cash equivalents 233,097 193,470 103,189
Restricted cash – long-term - letters of credit 0 500 746
Restricted cash – short-term 0 0 75
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 233,097 193,970 104,010
Affiliated Entity | APC      
Supplemental disclosures of non-cash investing and financing activities      
APC stock issued in exchange for AMG $ 0 $ 0 $ 414