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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 19,422 $ 31,716
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including patient equipment depreciation 184,038 193,109
Goodwill impairment 13,078 0
Equity-based compensation 9,751 12,763
Change in fair value of warrant liability 443 (22,726)
Reduction in the carrying amount of operating lease right-of-use assets 17,770 16,794
Reduction in the carrying amount of finance lease right-of-use assets 4,793 3,007
Deferred income tax expense 12,103 1,413
Change in fair value of interest rate swaps, net of reclassification adjustment (367) (987)
Amortization of deferred financing costs 2,729 2,617
Payment of contingent consideration from an acquisition (1,850) 0
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable (48,166) (5,011)
Inventory (10,254) 13,808
Prepaid and other assets 16,225 10,199
Operating lease obligations (17,887) (16,662)
Operating liabilities 45,191 (13,473)
Net cash provided by operating activities 247,019 226,567
Cash flows from investing activities:    
Purchases of equipment and other fixed assets (169,163) (171,730)
Payments for business acquisitions, net of cash acquired 0 (17,905)
Payments for cost method investments 0 (128)
Net cash used in investing activities (169,163) (189,763)
Cash flows from financing activities:    
Proceeds from borrowings on lines of credit 75,000 50,000
Repayments on long-term debt and lines of credit (145,000) (65,000)
Repayments of finance lease obligations (4,890) (3,679)
Payments for shares purchased under share repurchase program 0 (9,224)
Proceeds from the exercise of stock options 545 0
Proceeds received in connection with employee stock purchase plan 607 1,021
Payments relating to the Tax Receivable Agreement (1,432) (3,202)
Distributions to noncontrolling interest (3,500) (2,500)
Payments for tax withholdings from restricted stock vesting and stock option exercises (1,399) (4,366)
Payments of contingent consideration and deferred purchase price from acquisitions (5,087) (1,000)
Net cash used in financing activities (85,156) (37,950)
Net decrease in cash (7,300) (1,146)
Cash at beginning of period 77,132 46,272
Cash at end of period 69,832 45,126
Supplemental disclosures:    
Cash paid for interest 63,276 62,782
Cash paid for income taxes, net of refunds 12,098 5,567
Noncash investing and financing activities:    
Unpaid equipment and other fixed asset purchases at end of period 40,639 32,942
Assets subject to operating lease obligations 15,967 5,112
Operating lease obligations (15,967) (5,112)
Write-off of assets subject to operating lease obligations (1,845) 0
Write-off of operating lease obligations 1,845 0
Assets subject to finance lease obligations 10,895 12,203
Finance lease obligations (10,895) (12,203)
Deferred purchase price in connection with acquisitions $ 0 $ 50