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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 50,531 $ 49,294 $ 122,320
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,543 17,517 18,350
Amortization of debt issuance cost 939 1,078 1,347
Share-based compensation 16,101 6,745 3,383
Gain on sale of investments (2,272) (2,193) (99,839)
Loss (gain) on consolidation of equity method investment 901 (2,752) 0
Gain on contingent equity securities 0 (4,270) 0
Unrealized loss on investments 25,506 10,845 11
Gain from investment in warrants 0 (1,145) 0
Loss (income) from equity method investments, net (5,622) 4,306 (3,694)
Impairment of beneficial interest 0 15,723 0
Unrealized (gain) loss on interest rate swaps (4,235) 1,071 0
Loss of disposal of property and equipment 0 0 91
Deferred tax (7,681) (5,952) (6,620)
Other 189 0
Changes in operating assets and liabilities, net of acquisition amounts:      
Receivable, net (41,192) (1,518) 4,134
Receivable, net – related parties 4,229 (20,116) (1,123)
Other receivable 8,196 (5,351) 12,589
Prepaid expenses and other current assets 818 2,708 (6,432)
Right-of-use assets 3,759 3,133 3,325
Other assets (243) (1,529) (5,530)
Accounts payable and accrued expenses (49) 3,217 8,204
Fiduciary accounts payable (2,470) 892 7,615
Medical liabilities 25,784 5,279 (8,691)
Income taxes payable (4,470) (3,621) (304)
Operating lease liabilities (3,945) (3,215) (2,973)
Net cash provided by operating activities 82,128 70,335 46,163
Cash flows from investing activities      
Payments for business acquisition, net of cash acquired (16,352) (2,585) (11,354)
Proceeds from repayment of loans receivable - related parties 4,067 56 16,500
Advances on loans receivable 0 0 (145)
Purchases of marketable securities (1,854) (28,000) (1,793)
Purchases of investments – equity method 0 (13,622) (9,969)
Proceeds from sale of equity method investment 0 6,375 52,743
Purchases of property and equipment (22,940) (19,223) (1,164)
Proceeds from sale of fixed assets 0 0 50
Proceeds from sale of marketable securities 31,671 67,612 50,625
Cash recorded from consolidation of VIE 0 5,927 0
Distribution from investment - equity method 400 0 0
Contribution to investment - equity method (2,105) 0 0
Net cash (used in) provided by investing activities (7,113) 16,540 95,493
Cash flows from financing activities      
Dividends paid (14,030) (31,089) (51,319)
Repayments on long-term debt (3,865) (238,326) (9,500)
Payment of finance lease obligations (561) (208) (105)
Proceeds from exercise of stock options and warrants 8,633 9,061 10,802
Repurchase of common stock (9,250) (5,739) (537)
Proceeds from sale of common stock 0 40,134 0
Purchase of non-controlling interest (5,046) (1,471) (1,037)
Proceeds from sale of noncontrolling interest 436 48 0
Borrowings on loans 3,598 180,569 0
Cost of debt and equity issuances 0 (727) 0
Net cash used in financing activities (20,085) (47,748) (51,696)
Net increase in cash, cash equivalents, and restricted cash 54,930 39,127 89,960
Cash, cash equivalents, and restricted cash, beginning of year 233,097 193,970 104,010
Cash, cash equivalents and restricted cash, end of year 288,027 233,097 193,970
Supplemental disclosures of cash flow information      
Cash paid for income taxes 47,311 37,201 62,002
Cash paid for interest 6,672 4,158 8,510
Supplemental disclosures of non-cash investing and financing activities      
Dividend declared included in dividend payable 0 71 485
Issuance of financing obligation for business combinations 0 12,706 0
Cashless exercise of warrants 694 0 599
Fixed asset obtained in exchange for finance lease liabilities 971 0 0
Common stock issued in business combination 1,000 0 0
Mortgage loan 16,275 0 0
Cancellation of Restricted Stock Awards 0 334 0
Deferred tax liability adjustment related to warrant exercises 0 0 690
Preferred shares received from sale of equity method investment 0 0 36,179
Beneficial interest acquired from sale of equity method investment 0 0 15,723
Reconciliation of cash, cash equivalents, and restricted cash      
Cash and cash equivalents 288,027 233,097 193,470
Restricted cash – long-term - letters of credit 0 0 500
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 288,027 $ 233,097 $ 193,970