v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
|
|
|
Operating activities |
|
|
|
Net income |
$ 88,205
|
$ 93,077
|
$ 82,406
|
Adjustments to reconcile net income to cash provided by operating activities: |
|
|
|
Depreciation and amortization |
33,862
|
31,846
|
28,527
|
Amortization of discounts, fees and deferred financing costs |
2,595
|
2,888
|
2,822
|
Noncash loss on early extinguishment of debt |
4,708
|
|
|
Stock-based compensation |
40,285
|
1,400
|
1,017
|
Excess tax benefits from stock option exercises |
|
(4,147)
|
|
Deferred taxes |
(14,018)
|
5,003
|
10,017
|
Income tax receivable agreement income |
(1,286)
|
|
|
Non-cash charge related to interest rate swap |
473
|
86
|
(300)
|
Non-cash rent charges |
2,191
|
917
|
3,033
|
Loss on disposal of assets |
857
|
|
|
Change in operating assets and liabilities, net of acquisitions: |
|
|
|
Accounts receivable |
(4,208)
|
(5,987)
|
(1,690)
|
Inventories |
(385)
|
538
|
(376)
|
Prepaid expenses and other current assets |
(7,226)
|
(843)
|
(5,389)
|
Other assets |
(219)
|
(966)
|
(796)
|
Accounts payable |
8,556
|
519
|
(5,326)
|
Accrued compensation and benefits |
6,599
|
4,032
|
1,368
|
Accrued expenses and other liabilities |
11,222
|
5,232
|
2,946
|
Cash provided by operating activities |
172,211
|
133,595
|
118,259
|
Investing activities |
|
|
|
Purchases of property and equipment |
(61,432)
|
(46,273)
|
(39,849)
|
Cash paid for acquisitions |
(4,507)
|
(2,642)
|
(5,086)
|
Cash used in investing activities |
(65,939)
|
(48,915)
|
(44,935)
|
Financing activities |
|
|
|
Proceeds from issuance of common stock sold in initial public offering, net of underwriting discounts and offering expense |
175,254
|
|
|
Proceeds from issuance of long-term debt |
60,000
|
|
|
Cash paid for debt issuance and other financing costs |
(1,350)
|
|
|
Proceeds from term loans, net of deferred financing costs |
70,590
|
44,163
|
33,538
|
Payments on long-term debt |
(275,243)
|
(24,891)
|
(21,245)
|
Payments on capital lease obligations |
|
(5)
|
(57)
|
Dividends and dividend equivalents paid |
(30,241)
|
|
|
Proceeds from exercise of stock options |
170
|
124
|
|
Proceeds from issuance of common stock |
|
727
|
4,669
|
Common stock repurchases for tax withholdings of net settlement equity awards |
(356)
|
(193)
|
(48)
|
Excess tax benefit from stock option exercises |
|
4,147
|
|
Payments of deferred offering costs |
|
(5,026)
|
|
Distributions to noncontrolling interests |
(94,468)
|
(79,125)
|
(68,235)
|
Contributions from noncontrolling interests |
7,470
|
7,235
|
5,933
|
Purchases of noncontrolling interests |
(8,397)
|
(4,159)
|
(583)
|
Proceeds from sales of additional noncontrolling interests |
227
|
1,836
|
1,309
|
Cash used in financing activities |
(96,344)
|
(55,167)
|
(44,719)
|
Increase in cash |
9,928
|
29,513
|
28,605
|
Cash at beginning of year |
90,988
|
61,475
|
32,870
|
Cash at end of year |
100,916
|
90,988
|
61,475
|
Supplemental Disclosure of Cash Flow Information |
|
|
|
Cash paid for income taxes |
16,095
|
6,915
|
3,238
|
Cash paid for interest |
32,499
|
42,339
|
41,320
|
Supplemental Disclosure of Non-Cash Flow Financing Activities |
|
|
|
Tax Receivable Agreement |
23,400
|
|
|
Non-Cash Dividend |
26,232
|
|
|
Liability for accrued dividend equivalent payments |
6,688
|
|
|
Contributions from noncontrolling interests in the form of a receivable |
$ 544
|
529
|
$ 657
|
Deferred offering costs |
|
$ 509
|
|
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