XML 20 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities:    
Net income $ 80,960 $ 48,438
Adjustments to reconcile net income to net cash provided by continuing operating activities:    
Depreciation and amortization 64,727 28,030
Amortization of debt issuance costs 4,956 3,218
Equity-based compensation expense 13,844 9,249
Deferred income tax expense 16,821 24,682
Income from discontinued operations, net of taxes   (3)
(Gain) loss on foreign currency derivatives (508) 908
Other 704 692
Change in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable, net (18,982) (10,442)
Other current assets (7,256) (13,048)
Other assets 1,582 (1,218)
Accounts payable and other accrued liabilities 29,101 (4,313)
Accrued salaries and benefits (3,846) (225)
Other liabilities 3,728 4,619
Net cash provided by continuing operating activities 185,831 90,587
Net cash (used in) provided by discontinued operating activities (2,973) 554
Net cash provided by operating activities 182,858 91,141
Investing activities:    
Cash paid for acquisitions, net of cash acquired (683,285) (286,734)
Cash paid for capital expenditures (177,718) (122,035)
Cash paid for real estate acquisitions (28,439) (3,428)
Settlement of foreign currency derivatives 508 (908)
Other (1,084) (481)
Net cash used in investing activities (890,018) (413,586)
Financing activities:    
Borrowings on long-term debt 1,480,000 875,000
Borrowings on revolving credit facility 158,000 180,000
Principal payments revolving credit facility (166,000) (180,000)
Principal payments on long-term debt (29,869) (15,875)
Repayment of assumed debt (1,348,389) (904,467)
Payment of debt issuance costs (35,511) (22,775)
Issuance of common stock, net 685,097 331,530
Common stock withheld for minimum statutory taxes, net (7,365) (7,826)
Excess tax benefit from equity awards   6,327
Other (823) (150)
Net cash provided by financing activities 735,140 261,764
Effect of exchange rate changes on cash (8,479) 1,213
Net increase (decrease) in cash and cash equivalents 19,501 (59,468)
Cash and cash equivalents at beginning of the period 11,215 94,040
Cash and cash equivalents at end of the period 30,716 34,572
Effect of acquisitions:    
Assets acquired, excluding cash 2,504,223 1,636,164
Liabilities assumed (1,604,056) (1,009,944)
Issuance of common stock in connection with acquisition (216,882) (380,210)
Deposits paid for acquisitions   40,724
Cash paid for acquisitions, net of cash acquired $ 683,285 $ 286,734