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American Renal Associates Holdings, Inc. – ‘10-K’ for 12/31/18 – ‘R63’

On:  Wednesday, 9/4/19, at 6:51pm ET   ·   As of:  9/5/19   ·   For:  12/31/18   ·   Accession #:  1498068-19-60   ·   File #:  1-37751

Previous ‘10-K’:  ‘10-K’ on 3/6/18 for 12/31/17   ·   Next & Latest:  ‘10-K’ on 3/16/20 for 12/31/19

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  As Of               Filer                 Filing    For·On·As Docs:Size

 9/05/19  American Renal Assocs Holdin… Inc 10-K       12/31/18  129:43M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.58M 
 2: EX-4.1      Instrument Defining the Rights of Security Holders  HTML     80K 
 5: EX-10.11    Material Contract                                   HTML     46K 
 6: EX-10.12    Material Contract                                   HTML     55K 
 3: EX-10.6     Material Contract                                   HTML     46K 
 4: EX-10.7     Material Contract                                   HTML     55K 
 7: EX-21.1     Subsidiaries List                                   HTML    100K 
 8: EX-23.1     Consent of Experts or Counsel                       HTML     34K 
 9: EX-31.1     Certification -- §302 - SOA'02                      HTML     41K 
10: EX-31.2     Certification -- §302 - SOA'02                      HTML     41K 
11: EX-32.1     Certification -- §906 - SOA'02                      HTML     36K 
12: EX-32.2     Certification -- §906 - SOA'02                      HTML     36K 
98: R1          Document and Entity Information                     HTML     69K 
23: R2          Consolidated Balance Sheets                         HTML    156K 
65: R3          Consolidated Balance Sheets (Parenthetical)         HTML     55K 
110: R4          Consolidated Statements of Operations               HTML    117K  
100: R5          Consolidated Statements of Comprehensive (Loss)     HTML     60K  
                Income                                                           
25: R6          Consolidated Statements of Changes in Equity        HTML    194K 
67: R7          Consolidated Statements of Changes in Equity        HTML     38K 
                (Parenthetical)                                                  
112: R8          Consolidated Statements of Cash Flows               HTML    165K  
96: R9          Basis of Presentation and Organization              HTML     41K 
84: R10         Summary of Significant Accounting Policies          HTML    131K 
128: R11         Restatement of Consolidated Financial Statements    HTML    626K  
55: R12         Initial Public Offering                             HTML     62K 
41: R13         Cash                                                HTML     49K 
85: R14         Prepaid Expenses and Other Current Assets           HTML     45K 
129: R15         Acquisitions and Divestitures                       HTML     64K  
56: R16         Fair Value Measurements                             HTML    147K 
42: R17         Property and Equipment                              HTML     60K 
86: R18         Intangible Assets and Goodwill                      HTML     69K 
127: R19         Accrued Expenses and Other Current Liabilities      HTML     61K  
61: R20         Variable Interest Entities                          HTML     42K 
20: R21         Noncontrolling Interests Subject to Put Provisions  HTML     79K 
87: R22         Changes in Ownership Interest in Consolidated       HTML     53K 
                Subsidiaries                                                     
101: R23         Debt                                                HTML    114K  
62: R24         Leases                                              HTML     74K 
21: R25         Income Taxes                                        HTML    138K 
88: R26         Loss Per Share                                      HTML     59K 
102: R27         Stock-Based Compensation                            HTML    119K  
60: R28         Related Party Transactions                          HTML     46K 
22: R29         Commitments and Contingencies                       HTML     42K 
45: R30         Certain Legal Matters and Other Matters             HTML     63K 
58: R31         Employee Benefit Plan                               HTML     37K 
126: R32         Concentrations                                      HTML     38K  
83: R33         Subsequent Events                                   HTML     56K 
44: R34         Selected Quarterly Financial Data (Unaudited)       HTML   3.06M 
57: R35         Schedule Ii - Valuation and Qualifying Accounts     HTML     52K 
125: R36         Summary of Significant Accounting Policies          HTML    152K  
                (Policies)                                                       
82: R37         Summary of Significant Accounting Policies          HTML     53K 
                (Tables)                                                         
43: R38         Restatement of Consolidated Financial Statements    HTML   3.58M 
                (Tables)                                                         
59: R39         Cash (Tables)                                       HTML     47K 
27: R40         Prepaid Expenses and Other Current Assets (Tables)  HTML     46K 
64: R41         Acquisitions and Divestitures (Tables)              HTML     47K 
113: R42         Fair Value Measurements (Tables)                    HTML    119K  
97: R43         Property and Equipment (Tables)                     HTML     56K 
26: R44         Intangible Assets and Goodwill (Tables)             HTML     73K 
63: R45         Accrued Expenses and Other Current Liabilities      HTML     62K 
                (Tables)                                                         
111: R46         Noncontrolling Interests Subject to Put Provisions  HTML     73K  
                (Tables)                                                         
95: R47         Changes in Ownership Interest in Consolidated       HTML     54K 
                Subsidiaries (Tables)                                            
24: R48         Debt (Tables)                                       HTML     78K 
66: R49         Leases (Tables)                                     HTML     68K 
49: R50         Income Taxes (Tables)                               HTML    139K 
32: R51         Loss Per Share (Tables)                             HTML     58K 
80: R52         Stock-Based Compensation (Tables)                   HTML    105K 
120: R53         Subsequent Events (Tables)                          HTML     45K  
50: R54         Selected Quarterly Financial Data (Unaudited)       HTML   3.64M 
                (Tables)                                                         
33: R55         Basis of Presentation and Organization (Details)    HTML     56K 
81: R56         Summary of Significant Accounting Policies          HTML    168K 
                (Details)                                                        
122: R57         Summary of Significant Accounting Policies          HTML     48K  
                Schedule of Revenue (Details)                                    
47: R58         Restatement of Consolidated Financial Statements -  HTML    216K 
                Restated Consolidated Balance Sheets (Details)                   
36: R59         Restatement of Consolidated Financial Statements -  HTML     57K 
                Restated Consolidated Balance Sheet                              
                (Parenthetical) (Details)                                        
89: R60         Restatement of Consolidated Financial Statements -  HTML    192K 
                Restated Consolidated Statements of Operations                   
                (Details)                                                        
106: R61         Restatement of Consolidated Financial Statements -  HTML     77K  
                Restated Consolidated Statements of Comprehensive                
                Income (Details)                                                 
68: R62         Restatement of Consolidated Financial Statements -  HTML    264K 
                Restated Consolidated Statements of Cash Flows                   
                (Details)                                                        
28: R63         Initial Public Offering (Details)                   HTML    172K 
92: R64         Cash (Details)                                      HTML     48K 
109: R65         Prepaid Expenses and Other Current Assets           HTML     46K  
                (Details)                                                        
71: R66         Acquisitions and Divestitures - Acquisitions        HTML     80K 
                (Details)                                                        
31: R67         Acquisitions and Divestitures - Divestitures        HTML     63K 
                (Details)                                                        
93: R68         Fair Value Measurements - Narrative (Details)       HTML     44K 
104: R69         Fair Value Measurements - Schedule of fair value    HTML     94K  
                (Details)                                                        
117: R70         Fair Value Measurements - Fair value rollforward    HTML     44K  
                of tax receivable agreement liability (Details)                  
77: R71         Property and Equipment (Details)                    HTML     82K 
40: R72         Intangible Assets and Goodwill - Schedule of        HTML     60K 
                intangible assets (Details)                                      
54: R73         Intangible Assets and Goodwill - Estimated annual   HTML     52K 
                amortization expense (Details)                                   
114: R74         Intangible Assets and Goodwill - Changes in the     HTML     45K  
                value of goodwill (Details)                                      
74: R75         Accrued Expenses and Other Current Liabilities      HTML     64K 
                (Details)                                                        
37: R76         Variable Interest Entities (Details)                HTML     38K 
51: R77         Noncontrolling Interests Subject to Put Provisions  HTML     69K 
                (Details)                                                        
119: R78         Changes in Ownership Interest in Consolidated       HTML     56K  
                Subsidiaries (Details)                                           
73: R79         Debt - Schedule of long term-term debt (Details)    HTML     94K 
116: R80         Debt Debt - Scheduled maturities of long-term debt  HTML     55K  
                (Details)                                                        
76: R81         Debt - Narrative (Details)                          HTML    226K 
39: R82         Leases - Narrative (Details)                        HTML     57K 
53: R83         Leases - Schedule of Future Minimum Lease Payments  HTML    121K 
                (Details)                                                        
115: R84         Income Taxes - Provision (Benefit) for Income       HTML     64K  
                Taxes (Details)                                                  
75: R85         Income Taxes - Significant components of deferred   HTML     84K 
                tax assets and liabilities (Details)                             
38: R86         Income Taxes Income Taxes - Narrative (Details)     HTML     59K 
52: R87         Income Taxes - Reconciliation of the federal        HTML     56K 
                statutory rate (Details)                                         
118: R88         Income Taxes - Gross amounts of unrecognized tax    HTML     43K  
                benefits (Details)                                               
72: R89         Loss Per Share (Details)                            HTML     64K 
90: R90         Stock-Based Compensation - Narrative (Details)      HTML    100K 
107: R91         Stock-Based Compensation - Equity Grants,           HTML     42K  
                Assumptions and Activity (Details)                               
69: R92         Stock-Based Compensation - Assumptions used for     HTML     55K 
                options granted (Details)                                        
29: R93         Stock-Based Compensation - Stock option activity    HTML    103K 
                (Details)                                                        
91: R94         Stock-Based Compensation - Restricted stock         HTML     60K 
                activity (Details)                                               
108: R95         Related Party Transactions (Details)                HTML     75K  
70: R96         Commitments and Contingencies (Details)             HTML     46K 
30: R97         Certain Legal Matters and Other Matters (Details)   HTML     79K 
94: R98         Employee Benefit Plan (Details)                     HTML     36K 
105: R99         Concentrations (Details)                            HTML     35K  
123: R100        Subsequent Events - Acquisitions (Details)          HTML     77K  
78: R101        Subsequent Events - Narrative (Details)             HTML     95K 
34: R102        Selected Quarterly Financial Data (Unaudited)       HTML     73K 
                (Details)                                                        
46: R103        Selected Quarterly Financial Data (Unaudited) -     HTML    216K 
                Condensed Consolidated Balance Sheets (Details)                  
124: R104        Selected Quarterly Financial Data (Unaudited) -     HTML     57K  
                Condensed Consolidated Balance Sheets                            
                (Parenthetical) (Details)                                        
79: R105        Selected Quarterly Financial Data (Unaudited) -     HTML    198K 
                Condensed Consolidated Statements of Operations                  
                (Details)                                                        
35: R106        Selected Quarterly Financial Data (Unaudited) -     HTML     77K 
                Consolidated Statements of Comprehensive Income                  
                (Loss) (Details)                                                 
48: R107        Selected Quarterly Financial Data (Unaudited) -     HTML    264K 
                Condensed Consolidated Statements of Cash Flows                  
                (Details)                                                        
121: R108        Schedule Ii - Valuation and Qualifying Accounts     HTML     43K  
                (Details)                                                        
99: XML         IDEA XML File -- Filing Summary                      XML    226K 
19: EXCEL       IDEA Workbook of Financial Reports                  XLSX    222K 
13: EX-101.INS  XBRL Instance -- ara-20181231                        XML  14.05M 
15: EX-101.CAL  XBRL Calculations -- ara-20181231_cal                XML    394K 
16: EX-101.DEF  XBRL Definitions -- ara-20181231_def                 XML   1.30M 
17: EX-101.LAB  XBRL Labels -- ara-20181231_lab                      XML   2.61M 
18: EX-101.PRE  XBRL Presentations -- ara-20181231_pre               XML   1.92M 
14: EX-101.SCH  XBRL Schema -- ara-20181231                          XSD    266K 
103: ZIP         XBRL Zipped Folder -- 0001498068-19-000060-xbrl      Zip    711K  


‘R63’   —   Initial Public Offering (Details)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.19.2
Initial Public Offering (Details) - USD ($)
6 Months Ended 9 Months Ended 12 Months Ended
Initial Public Offering                                  
Proceeds from issuance of common stock sold in initial public offering, net of underwriting discounts and offering expense       $ 175,378,000   $ 175,254,000 $ 0 $ 0 $ 175,254,000                
Amendment of Certificate of Incorporation                                  
Common stock, shares authorized (in shares)     300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000   300,000,000 300,000,000  
Common stock, par value (in USD per share)     $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01   $ 0.01 $ 0.01  
Stock split ratio 2.29                                
Clinic Loan Assignment and Term Loan Holdings LLC Distribution                                  
Assigned clinic loans             $ 5,078,000 $ 11,082,000 $ 19,768,000                
Period of weighted average maturity, clinic loans             11 months                    
Weighted average interest rate, clinic loans             5.12%                    
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Proceeds from term loans, net of deferred financing costs     $ 3,914,000 $ 1,350,000 $ 3,914,000 $ 1,350,000 $ 0 3,914,000 1,350,000                
Write-off of deferred financing fees $ 4,708,000                                
Percentage tax savings payable to pre-IPO stockholders 85.00%                                
Estimated liability based on fair value of tax receivable agreement   $ 23,400,000         4,952,000                    
Financial instrument fair value             3,700,000 7,500,000 21,200,000         $ 23,400,000     $ 0
Accrued but unpaid obligations under tax receivable agreement             1,252,000                    
Payments on tax receivable agreement             6,376,000 878,000                  
Cash dividend (in dollars per share) $ 1.3                                
Cash dividends declared per share (in USD per share) $ 28,886,000                                
Unrecognized non-cash compensation costs $ 38,877,000                                
Compensation costs recognition period, after plan modifications 12 months                                
Stock compensation expense             5,721,000 15,872,000 40,298,000                
Second Lien Credit Agreement                                  
Initial Public Offering                                  
Proceeds from issuance of common stock sold in initial public offering, net of underwriting discounts and offering expense $ 165,635,000                                
First Lien Credit Agreement                                  
Initial Public Offering                                  
Transaction costs 1,350,000                                
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Increase in borrowing capacity 50,000,000                                
Aggregate amount of borrowing capacity $ 100,000,000                                
Interest rate margin increase 0.25%                                
Proceeds from term loans, net of deferred financing costs $ 2,700,000           1,350,000                    
Term loans                                  
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Increase in borrowing capacity $ 60,000,000                                
Guaranteed Clinic Loan                                  
Clinic Loan Assignment and Term Loan Holdings LLC Distribution                                  
Clinic loan guarantee             2,813,000 5,854,000 10,473,000                
IPO                                  
Initial Public Offering                                  
Number of shares sold in public offering (in shares) 8,625,000                                
Share price (in USD per share) $ 22                                
Proceeds from issuance of common stock sold in initial public offering, net of underwriting discounts and offering expense $ 176,942,000                                
Transaction costs               2,239,000                  
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Stock compensation due to modification               $ 11,749,000 36,368,000                
Stock compensation expense                 $ 586,000                
Vested Option Stockholders                                  
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Equivalent adjustments in the form of cash dividend equivalent payments (in dollars per share) $ 1.3                                
Equitable adjustments in the form of cash dividend equivalent payments             5,341,000                    
Vested Option Stockholders | Term Loan Holdings LLC                                  
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Equitable adjustments in the form of cash dividend equivalent payments             $ 2,524,000                    
Unvested Option Stockholders                                  
Amendments to and Repayment of Credit Facilities, Income Tax Receivable Agreement and Special Dividends and Stock Option Modification                                  
Equitable adjustments in the form of cash dividend equivalent payments $ 1,385,000                                
Minimum                                  
Clinic Loan Assignment and Term Loan Holdings LLC Distribution                                  
Interest rate             4.25%                    
Minimum | Term loans                                  
Clinic Loan Assignment and Term Loan Holdings LLC Distribution                                  
Interest rate             3.31%                    
Maximum                                  
Clinic Loan Assignment and Term Loan Holdings LLC Distribution                                  
Interest rate             8.08%                    
Maximum | Term loans                                  
Clinic Loan Assignment and Term Loan Holdings LLC Distribution                                  
Interest rate             7.98%                    

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed as of:9/5/1910-Q,  8-K
Filed on:9/4/1910-Q
For Period end:12/31/18NT 10-K
9/30/1810-Q
6/30/1810-Q
3/31/1810-Q
12/31/1710-K
9/30/1710-Q
6/30/1710-Q
3/31/1710-Q
12/31/1610-K
9/30/1610-Q
6/30/1610-Q
4/30/16
4/26/164,  8-K
4/20/168-K,  CORRESP,  EFFECT,  S-1/A
4/7/16
3/31/1610-Q
1/1/16
 List all Filings 
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Filing Submission 0001498068-19-000060   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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