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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 16,675 $ 42,230
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including patient equipment depreciation 93,813 77,030
Equity-based compensation 5,916 5,502
Change in fair value of warrant liability (21,914) (26,717)
Reduction in the carrying amount of operating lease right-of-use assets 8,486 7,484
Reduction in the carrying amount of finance lease right-of-use assets 427 0
Deferred income tax (benefit) expense (2,327) 4,303
Change in fair value of interest rate swaps, net of reclassification adjustment (579) (726)
Amortization of deferred financing costs 1,309 1,309
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable 5,920 (9,481)
Inventory (8,149) 21,331
Prepaid and other assets (4,503) 12,237
Operating lease obligations (9,451) (7,420)
Operating liabilities 54,625 (60,631)
Net cash provided by operating activities 140,248 66,451
Cash flows from investing activities:    
Purchases of equipment and other fixed assets (89,120) (77,166)
Payments for business acquisitions, net of cash acquired (447) (2,932)
Net cash used in investing activities (89,567) (80,098)
Cash flows from financing activities:    
Proceeds from borrowings on long-term debt 50,000 0
Repayments on long-term debt (30,000) (5,000)
Repayments of finance lease obligations (981) (8,156)
Payments for shares purchased under share repurchase program (9,224) 0
Proceeds from the exercise of stock options 0 723
Proceeds received in connection with employee stock purchase plan 1,021 753
Payments relating to the Tax Receivable Agreement (3,202) 0
Payments for tax withholdings from restricted stock vesting and stock option exercises (2,492) (1,269)
Payments of contingent consideration and deferred purchase price from acquisitions (674) (3,603)
Net cash provided by (used in) financing activities 4,448 (16,552)
Net increase (decrease) in cash 55,129 (30,199)
Cash at beginning of period 46,272 149,627
Cash at end of period 101,401 119,428
Supplemental disclosures:    
Cash paid for interest 50,051 43,931
Cash paid for income taxes 384 11
Noncash investing and financing activities:    
Equipment acquired under finance lease obligations 0 1,335
Unpaid equipment and other fixed asset purchases at end of period 34,940 26,194
Assets subject to operating lease obligations 3,847 2,627
Operating lease obligations (3,847) (2,627)
Assets subject to finance lease obligations 2,407 0
Finance lease obligations (2,407) 0
Deferred purchase price in connection with acquisitions $ 50 $ 308