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RESTATEMENT OF PREVIOUSLY ISSUED QUARTERLY FINANCIAL STATEMENTS (UNAUDITED) - Unaudited Condensed Combined/Consolidated Statements of Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities            
Net income $ (31,876) $ 34,819 $ 2,943 $ 55,344 $ 112,882 $ 150,496
Adjustments to reconcile net income to net cash provided by operating activities            
Depreciation and amortization   8,116 17,370 40,809 25,632 22,311
Amortization and write-off of deferred financing fees   775 1,551 3,115 6,068 1,205
Stock-based compensation     90,936 115,544 0 0
Loss on disposition of property and equipment   343 343      
Loss on investment in partnership   (120) 4,288 4,565 391 346
Gain on other investments     (476) (1,258) 0 0
Deferred taxes   3,950 (34,653) (44,484) (9,923) (1,921)
Noncash lease expense   6,863 14,603 34,647 22,727 14,464
Change in operating assets and liabilities            
Accounts receivable, net   (63,992) (32,330) (93,968) (176,883) (114,416)
Other receivables   (13,755) 1,863 (22,487) (3,059) (202)
Prepaid expenses and other current assets   (5,009) (11,747) (17,210) (18,765) (6,371)
Other assets   (1,802) (1,021) (13,338) (3,338) (39,341)
Escrow funds   (5,807) (3,882) (9,473) 568 (4,526)
Operating lease liabilities   (8,234) (10,194) (20,784) (2,011) (92)
Accounts payable   13,938 (17,203) 33,398 33,371 32,808
Accrued payroll and benefits   51,577 7,137 52,041 6,325 (5,564)
Accrued self-insurance liabilities   10,399 29,660 67,242 35,576 67,636
Refund liability   3,947 30,586 145,795 0 0
Other accrued expenses   1,304 5,480 73,210 (55,501) (24,390)
Other liabilities   21,439 (1,731) (36,210) 89,056 168
NET CASH PROVIDED BY OPERATING ACTIVITIES   58,751 93,523 367,341 63,697 92,615
Cash flows from investing activities            
Investment in partnerships   (5,081) (5,081) (32,891) (2,597) 0
Non-operating distributions from investment in partnership   673 1,190 3,521 1,862 2,905
Purchase of investments   (25,000) (35,000) (90,874) 0 0
Acquisition of facilities   (78,500) (174,650) (283,344) (127,024) (55,374)
Purchase of property and equipment   (10,761) (26,093) (66,465) (45,782) (22,862)
Proceeds from the sale of assets     0 1,500 750 10
NET CASH USED IN INVESTING ACTIVITIES   (118,669) (239,634) (442,679) (172,791) (75,321)
Cash flows from financing activities            
Borrowing on lines of credit, net of deferred financing fees   117,000 288,000 676,000 855,704 154,528
Payments on lines of credit   (100,000) (560,000) (1,054,000) (497,986) (119,149)
Dividends on common stock   (17,474) (33,721) (33,721) (80,394) (60,280)
Contributions from noncontrolling interest     502 502 587 3,246
Borrowings of long-term debt, net of deferred financing fees   39,786 39,757      
Payments on long-term debt   (4,823) (9,836) (19,455) (559,632) (53,901)
Proceeds from initial public offering, net of issuance costs     414,157 414,157 0 0
Taxes paid related to net share settlement of stock-based compensation awards     (33,598) (33,597) 0 0
NET CASH PROVIDED BY FINANCING ACTIVITIES   34,489 105,261 117,476 129,592 12,350
Net change in cash   (25,429) (40,850) 42,138 20,498 29,644
Cash, cash equivalents, and restricted cash - beginning of year 93,275 118,704 118,704 118,704 98,206 68,562
Cash, cash equivalents, and restricted cash - end of year 77,854 93,275 77,854 160,842 118,704 98,206
Supplemental disclosures of cash flow information            
Interest   16,343 26,983 48,248 50,558 25,911
Income taxes   0 43,455 107,831 60,009 42,554
Non-cash financing and investing activity            
Accrued capital expenditures   4,112 5,154 3,716 3,000 $ 717
Assets acquired in operation expansions in exchange for notes payable            
Non-cash financing and investing activity            
Assets acquired in operation expansions   0 0      
Assets acquired in operation expansions through settlement of notes receivable            
Non-cash financing and investing activity            
Assets acquired in operation expansions   500 500      
As Previously Reported            
Cash flows from operating activities            
Net income (10,908) 49,140 38,232      
Adjustments to reconcile net income to net cash provided by operating activities            
Depreciation and amortization   7,902 16,678      
Amortization and write-off of deferred financing fees   775 1,551      
Stock-based compensation     90,936      
Loss on disposition of property and equipment   343 343      
Loss on investment in partnership   (120) 4,288      
Gain on other investments     (476)      
Deferred taxes   4,985 (15,969)      
Noncash lease expense   7,262 15,185      
Change in operating assets and liabilities            
Accounts receivable, net   (74,930) (62,770)      
Other receivables   (13,755) 1,863      
Prepaid expenses and other current assets   (5,009) (18,286)      
Other assets   (1,802) (1,021)      
Escrow funds   (5,807) (3,882)      
Operating lease liabilities   (8,572) (9,859)      
Accounts payable   13,938 (17,203)      
Accrued payroll and benefits   51,577 14,843      
Accrued self-insurance liabilities   10,399 29,660      
Refund liability   0 0      
Other accrued expenses   1,340 5,492      
Other liabilities   21,121 3,995      
NET CASH PROVIDED BY OPERATING ACTIVITIES   58,787 93,600      
Cash flows from investing activities            
Investment in partnerships   (5,081) (5,081)      
Non-operating distributions from investment in partnership   673 1,190      
Purchase of investments   (25,000) (35,000)      
Acquisition of facilities   (78,500) (174,650)      
Purchase of property and equipment   (10,761) (26,093)      
Proceeds from the sale of assets     0      
NET CASH USED IN INVESTING ACTIVITIES   (118,669) (239,634)      
Cash flows from financing activities            
Borrowing on lines of credit, net of deferred financing fees   117,000 288,000      
Payments on lines of credit   (100,000) (560,000)      
Dividends on common stock   (17,474) (33,721)      
Contributions from noncontrolling interest     502      
Borrowings of long-term debt, net of deferred financing fees   39,786 39,757      
Payments on long-term debt   (4,859) (9,913)      
Proceeds from initial public offering, net of issuance costs     414,157      
Taxes paid related to net share settlement of stock-based compensation awards     (33,598)      
NET CASH PROVIDED BY FINANCING ACTIVITIES   34,453 105,184      
Net change in cash   (25,429) (40,850)      
Cash, cash equivalents, and restricted cash - beginning of year 93,275 118,704 118,704 118,704    
Cash, cash equivalents, and restricted cash - end of year 77,854 93,275 77,854   118,704  
Supplemental disclosures of cash flow information            
Interest   15,638 25,550      
Income taxes   0 43,455      
Non-cash financing and investing activity            
Accrued capital expenditures   4,112 5,154      
As Previously Reported | Assets acquired in operation expansions in exchange for notes payable            
Non-cash financing and investing activity            
Assets acquired in operation expansions   0 0      
As Previously Reported | Assets acquired in operation expansions through settlement of notes receivable            
Non-cash financing and investing activity            
Assets acquired in operation expansions   500 500      
Restatement Adjustments            
Cash flows from operating activities            
Net income (20,968) (14,321) (35,289)      
Adjustments to reconcile net income to net cash provided by operating activities            
Depreciation and amortization   214 692      
Amortization and write-off of deferred financing fees   0 0      
Stock-based compensation     0      
Loss on disposition of property and equipment   0 0      
Loss on investment in partnership   0 0      
Gain on other investments     0      
Deferred taxes   (1,035) (18,684)      
Noncash lease expense   (399) (582)      
Change in operating assets and liabilities            
Accounts receivable, net   10,938 30,440      
Other receivables   0 0      
Prepaid expenses and other current assets   0 6,539      
Other assets   0 0      
Escrow funds   0 0      
Operating lease liabilities   338 (335)      
Accounts payable   0 0      
Accrued payroll and benefits   0 (7,706)      
Accrued self-insurance liabilities   0 0      
Refund liability   3,947 30,586      
Other accrued expenses   (36) (12)      
Other liabilities   318 (5,726)      
NET CASH PROVIDED BY OPERATING ACTIVITIES   (36) (77)      
Cash flows from investing activities            
Investment in partnerships   0 0      
Non-operating distributions from investment in partnership   0 0      
Purchase of investments   0 0      
Acquisition of facilities   0 0      
Purchase of property and equipment   0 0      
Proceeds from the sale of assets     0      
NET CASH USED IN INVESTING ACTIVITIES   0 0      
Cash flows from financing activities            
Borrowing on lines of credit, net of deferred financing fees   0 0      
Payments on lines of credit   0 0      
Dividends on common stock   0 0      
Contributions from noncontrolling interest     0      
Borrowings of long-term debt, net of deferred financing fees   0 0      
Payments on long-term debt   36 77      
Proceeds from initial public offering, net of issuance costs     0      
Taxes paid related to net share settlement of stock-based compensation awards     0      
NET CASH PROVIDED BY FINANCING ACTIVITIES   36 77      
Net change in cash   0 0      
Cash, cash equivalents, and restricted cash - beginning of year 0 0 0 $ 0    
Cash, cash equivalents, and restricted cash - end of year $ 0 0 0   $ 0  
Supplemental disclosures of cash flow information            
Interest   705 1,433      
Income taxes   0 0      
Non-cash financing and investing activity            
Accrued capital expenditures   0 0      
Restatement Adjustments | Assets acquired in operation expansions in exchange for notes payable            
Non-cash financing and investing activity            
Assets acquired in operation expansions   0 0      
Restatement Adjustments | Assets acquired in operation expansions through settlement of notes receivable            
Non-cash financing and investing activity            
Assets acquired in operation expansions   $ 0 $ 0