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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 29,970 $ 22,727
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,541 8,725
Amortization of debt issuance cost 474 474
Share-based compensation 7,658 6,975
Gain on sale of equity securities 0 (2,272)
Unrealized loss on investments 5,485 13,659
Income from equity method investments (5,207) (2,945)
Unrealized loss (gain) on interest rate swaps 49 (2,830)
Deferred tax (3,746) 3,361
Changes in operating assets and liabilities, net of business combinations:    
Receivables, net (17,296) (56,202)
Receivables, net – related parties (17,673) (12,151)
Other receivables 1,229 (3,580)
Prepaid expenses and other current assets (2,277) 4,109
Right-of-use assets 3,240 2,290
Other assets (21) 1,790
Accounts payable and accrued expenses (2,864) 14,181
Fiduciary accounts payable 538 (4,464)
Medical liabilities 13,335 55,106
Income taxes payable/receivable 15,396 (14,010)
Operating lease liabilities (3,309) (2,254)
Other long-term liabilities 0 370
Net cash provided by operating activities 33,522 33,059
Cash flows from investing activities    
Payments for business and asset acquisitions, net of cash acquired 350 (858)
Proceeds from repayment of loans receivable – related parties 2,143 4,030
Purchase of marketable securities (2,022) (1,750)
Purchase of investments - privately held (2,000) 0
Purchase of investments - equity method (325) 0
Purchases of property and equipment (17,367) (18,845)
Proceeds from sale of marketable securities 0 6,480
Distribution from investment - equity method 0 400
Contribution to investment - equity method 0 (1,685)
Net cash used in investing activities (19,221) (12,228)
Cash flows from financing activities    
Dividends paid (842) (12,556)
Repayment of long-term debt (312) (200)
Payment of finance lease obligations (303) (283)
Proceeds from the exercise of stock options and warrants 1,250 1,738
Repurchase of shares (9,539) (9,480)
Proceeds from sale of non-controlling interest 0 38
Purchase of non-controlling interest (50) (199)
Borrowings on loans 1,734 1,237
Net cash used in financing activities (8,062) (19,705)
Net increase in cash and cash equivalents 6,239 1,126
Cash and cash equivalents beginning of period 288,027 233,097
Cash and cash equivalents end of period 294,266 234,223
Supplementary disclosures of cash flow information    
Cash paid for income taxes 7,881 22,311
Cash paid for interest 6,264 2,231
Supplemental disclosures of non-cash investing and financing activities    
Right-of-use assets obtained in exchange for operating lease liabilities 701 0
Fixed asset obtained in exchange for finance lease liabilities 0 398
Common stock issued in business combination 0 1,000
Mortgage loan 0 16,275
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 293,921 234,223
Restricted cash – current 345 0
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 294,266 $ 234,223