AMN HEALTHCARE SERVICES, INC. AMN Cash Flow

Amn healthcare services, inc. (AMN)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent
12,965	27,482	23,515	28,869	34,122	35,613	27,918	35,529	42,681	41,167	28,128	31,255	32,008	26,351	27,296	26,322	25,869	20,165	33,647	15,870	12,209	9,895	8,499	7,193	7,630	8,356	8,615	8,399	7,563	7,083	5,858	-81	4,276	-2,435	-26,899	813	2,256
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
20,234	17,007	17,085	12,718	11,710	11,449	11,296	10,606	7,886	8,520	8,132	7,959	7,668	7,732	7,789	7,334	6,765	5,322	5,304	5,232	5,095	4,077	4,086	4,010	3,820	-	3,317	3,240	3,290	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,552	3,695	-	-	-	4,465
Non-cash interest expense and other
1,911	-3,800	682	591	543	4,250	-686	677	600	-3,949	597	542	579	1,236	455	149	576	489	454	534	457	288	428	381	295	286	374	381	295	575	801	393	1,152	958	967	926	936
Change in fair value of contingent consideration
200	4,895	4,441	-1,458	-700	-1,093	-1,326	19	0	118	20	23	23	64	-302	115	99	-30	-300	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in allowance for credit losses and sales credits
4,735	-	-	-	2,608	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in allowances for doubtful accounts and sales credits
-	-	-	-	-	2,766	1,431	2,552	2,257	1,327	1,272	2,332	5,408	5,262	1,294	2,765	2,687	1,369	1,240	1,883	2,192	1,478	762	1,710	443	1,949	1,031	546	1,102	1,484	1,849	1,447	2,006	1,447	935	945	1,084
Provision for deferred income taxes
733	4,613	6,628	-1,292	-9,036	1,717	4,789	-2,060	-5,113	15,119	-488	-4,124	-4,900	-6,215	-2,790	782	-1,201	-5,006	11,454	870	5,359	10,011	2,842	-2,959	1,885	1,080	1,089	-161	1,023	2,504	3,120	-1,733	3,060	-1,100	-1,230	-803	1,338
Share-based Payment Arrangement, Noncash Expense
4,927	4,528	2,825	3,702	5,186	2,861	1,809	3,281	2,864	2,517	2,477	2,562	2,681	2,604	2,704	2,710	3,381	3,733	2,021	2,153	2,377	1,796	1,791	1,751	1,819	-	1,487	1,478	1,702	-	-	-	-	-	1,697	1,723	1,989
Share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,646	1,569	1,577	1,432	-	-	-	-
Excess tax benefit from equity awards vested and exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	587	0	442	2,322	180	458	1,782	5,029	39	64	170	1,546	-8	98	727	704	32	1	5	6	1	14	93	1
Gain on sale of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,187	0	0	0	0
Loss on disposal or sale of fixed assets
-3,266	-35	-410	-35	-4	-77	-1	-34	-5	-97	-87	22	-65	-24	-22	-23	0	-1	-3	-2	2	-10	-46	-3	-1	-1	-5	0	-8	-16	-2	-14	0	-8	-27	-28	-45
Write-off of fees on credit facilities
-	-	-	-	-	0	0	0	-574	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on investments
50	22	47	109	120	124	16	47	15	15	70	42	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on deferred compensation balances
240	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash lease expense
179	-6	-105	14	92	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable
5,786	-3,132	-12,719	-13,927	1,500	2,196	13,087	-4,676	-9,154	8,227	10,271	2,147	-1,787	16,106	1,160	26,215	15,219	28,921	19,393	10,896	16,443	22,442	13,335	2,375	3,806	3,542	-3,834	-6,406	15,342	2,113	7,195	-3,633	-3,033	4,163	5,919	2,265	11,254
Accounts receivable, subcontractor
3,224	9,961	12,694	-5,549	5,465	5,252	10,234	-4,370	-1,985	3,812	569	-12,207	-395	7,139	-4,233	-3,532	-916	1,287	12,612	2,718	5,748	6,874	-943	3,832	409	-598	3,141	-3,604	865	-1,219	-2,310	-1,344	843	5,056	1,739	-2,638	1,258
Income taxes receivable
-5,984	1,063	1,728	2,472	-799	-2,102	989	-4,105	-9,881	13,683	1,029	1,186	-361	-309	-712	558	-6,006	-6,859	4,195	-32	-5,171	-284	1,595	1,035	-3,114	-	-	-	-	-	-	-	-	1,162	196	-1,257	-489
Prepaid expenses
7,663	344	-2,641	-3,864	5,387	-2,131	-4,346	-363	2,375	673	-1,321	-2,345	5,309	260	-1,818	-456	2,469	702	-484	-45	2,742	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other current assets
-3,463	-1,515	-749	-2,366	1,783	1,705	-1,059	3,438	-2,825	1,799	-4,744	-1,090	-266	-4,447	2,719	5,913	1,477	-702	487	5,303	321	-2,653	-2,348	-987	4,068	1,322	-1,720	-5,897	2,436	5,828	-164	-2,247	5,267	445	-898	-1,447	2,725
Other assets
-2,409	3,961	27	2,561	6,202	-6,258	1,575	-645	89	202	-559	2,624	3,139	-733	253	1,571	2,471	1,331	761	543	2,150	80	134	-552	606	9,385	159	1,194	1,127	-567	1,247	-520	1,377	115	-271	251	152
Accounts payable and accrued expenses
15,836	16,202	15,194	-32,420	2,949	9,843	16,265	-1,138	-7,816	12,580	-1,927	-16,916	-1,599	18,496	-13,356	22,794	-10,229	3,803	11,746	10,441	3,621	10,427	1,844	44	-6,190	4,671	1,246	-3,775	4,102	5,542	-7,147	-683	1,608	2,657	4,250	-3,752	505
Accrued compensation and benefits
-2,031	12,971	8,013	11,444	330	-762	5,546	9,475	-4,007	9,439	4,701	7,641	-8,351	8,381	-2,887	3,873	9,775	-4,819	11,367	4,344	996	2,890	8,529	-912	1,008	1,589	7,350	-2,522	-50	11,391	-6,223	558	68	595	-2,412	152	7,700
Other liabilities
-6,894	1,183	-1,421	-15,482	9,630	1,443	-3,835	-5,090	-1,498	-3,330	-5,637	-16,300	16,825	2,411	4,117	-12,460	14,079	2,262	-13,163	4,416	4,382	-9,150	3,538	755	369	9,746	1,497	2,665	-779	-3,704	-1,771	4,543	-2,097	1,453	-907	-2,014	-2,369
Deferred revenue
748	232	-13	-607	-1,418	-743	-511	1,625	-52	-1,226	-38	800	-84	476	2,299	-2,329	286	173	-674	2,346	-532	-77	-60	43	-20	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash, cash equivalents and investments balance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,926	205	-36	3,081	3,082	2,875	1,076	1,075	2,150	0	-	-	-	-	-	-	-	-
Restricted investments balance
-21	21	-6	-57	-36	6	93	-19	12	8	-44	36	0	-870	-268	1,314	-176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
51,365	78,657	80,914	29,077	36,214	58,947	42,108	66,203	59,735	58,422	32,053	25,359	44,684	49,089	29,540	20,053	35,227	676	21,950	25,000	8,687	5,185	15,452	6,177	864	15,820	27,092	19,475	-2,218	16,318	11,512	20,997	9,553	6,513	4,881	2,354	5,564
Cash flows from investing activities:
Purchase and development of fixed assets
13,571	10,442	9,244	8,144	7,388	11,284	7,465	10,754	5,703	9,361	5,427	6,243	5,498	4,251	4,811	6,276	6,618	5,888	6,518	8,234	6,370	4,847	4,411	4,033	5,843	2,600	1,099	3,133	2,215	1,719	1,543	1,209	1,001	1,098	1,099	764	1,687
Purchase of investments
4,479	9,550	3,478	5,919	7,362	6,639	20,443	4,656	2,086	4,075	3,770	2,447	4,804	13,152	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturity of investments
9,600	3,500	5,965	10,970	11,700	14,600	2,200	5,300	2,900	3,101	9,000	6,200	2,000	2,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash, cash equivalents and investments balance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-1,409	-2,675	-4,117	-4,349	1	3	9	-60	-56	582	94	-3	-6	8	-2,719	0
Equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,000	1,000	2,000	0	0	0	0	-	-	-	-	-	-	-	-
Loan to Pipeline Health Holdings LLC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	333	667	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments to fund deferred compensation plan
5,471	1,143	6,085	1,696	3,583	2,117	3,076	0	4,724	481	3,232	1,826	4,998	1,246	2,603	207	2,855	754	98	949	1,203	0	775	184	1,215	47	516	254	481	-	-	-	-	-	-	-	-
Purchase of convertible promissory note
490	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Gross
476,392	-	-	-	29,525	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for other intangibles
1,400	120	0	1,030	90	0	0	1,180	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash received for working capital adjustments for prior year acquisitions
66	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for Previous Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	825	0	0	165	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	406	22	272	8,350	0	0	0	0
Net cash used in investing activities
-492,137	-38,218	-12,915	-204,443	-36,248	-7,689	-32,698	-229,337	-9,613	-11,316	-4,429	-6,316	-13,300	-17,090	-8,117	-58,451	-174,703	-10,451	-10,768	-9,516	-85,350	-17,908	-4,511	-1,100	-4,709	-42,148	-1,018	-3,396	-2,636	-2,640	-2,103	-1,031	7,352	-1,142	-1,107	1,955	-1,687
Cash flows from financing activities:
Capital lease repayments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4	57	159	157	156	202	161	160	158	158	162	162	168	170	169	168	166
Payments on term loans
-	-	-	-	-	-	-	-	-	0	18,125	25,000	938	159,375	2,813	2,812	2,813	1,875	1,875	1,875	1,875	1,875	1,875	151,495	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term loans
250,000	0	0	150,000	0	-	-	-	-	-	-	-	-	0	0	0	75,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of Lines of Credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,000	10,000	10,000	7,000	0	6,500	32,000	1,000	15,000	1,000	0	0	6,000	0	0	-3,000	-5,300	-11,600	0	0
Proceeds from prior revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,000	-	0	0	0	-	-	-	-
Proceeds from revolving credit facility
225,000	0	0	71,000	30,000	0	0	195,000	0	-	-	-	-	0	0	39,000	85,000	5,000	0	0	84,500	18,000	0	28,500	1,000	-	-	-	-	-	-	-	-	-	-	-	2,300
Repurchase of common stock
0	0	0	775	17,930	14,263	31,859	20,891	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of financing costs
3,899	4,348	98	777	0	0	0	0	2,331	0	0	0	0	6,113	0	0	448	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earn-out payments for prior acquisitions
10,622	0	0	5,700	0	0	0	0	1,713	0	0	0	3,677	0	0	0	900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of prior notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	196,685	9,815	4,625	4,625	2,312	2,313
Proceeds from exercise of equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	310	154	3,199	0	1,734	0	58	3	407	56	711	530	0	0	0	-	-	-	-
Cash paid for shares withheld for taxes
4,353	431	1,809	1,253	10,280	0	24	482	10,926	302	58	1,701	7,313	227	0	360	5,194	395	195	2,624	8,694	87	118	338	3,905	8	125	1,134	1,403	203	29	187	656	12	41	1,271	734
Excess tax benefit from equity awards vested and exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	587	0	442	2,322	180	458	1,782	5,029	39	64	170	1,546	-8	98	727	704	32	1	5	6	1	14	93	1
Change in bank overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-75	-25	165	-	3,201	-895	-2,290	-1,264	589	640	-913
Net cash provided by financing activities
456,126	159	-52,845	187,495	1,790	-44,263	-36,883	133,627	-14,970	-13,369	-24,951	-26,945	-11,928	-36,128	-26,817	36,268	152,967	4,910	-11,302	-12,563	75,155	16,020	-6,854	-8,808	-2,457	10,291	-4,856	-7,471	1,019	-11,815	-21,029	-9,402	-15,923	-6,070	-7,087	-318	-1,825
Effect of exchange rate changes on cash
-47	59	132	-89	-101	58	133	91	-19	13	-73	-42	4	102	40	86	39	33	54	-80	68	113	75	-37	-9	-36	-84	-28	93	-5	-55	33	-43	18	32	-1	-1
Net increase in cash, cash equivalents and restricted cash
15,307	40,657	15,286	12,040	1,655	7,053	-27,340	-29,416	35,133	33,750	2,600	-7,944	19,460	-4,027	-5,354	-2,044	13,530	-4,832	-66	2,841	-1,440	3,410	4,162	-3,768	-6,311	-16,073	21,134	8,580	-3,742	1,858	-11,675	10,597	939	-681	-3,281	3,990	2,051
Supplemental disclosures of cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities
4,734	4,523	4,600	4,356	4,338	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest (net of $159 and $102 capitalized for the three months ended March 31, 2020 and 2019, respectively)
1,898	8,742	3,274	10,190	1,524	9,762	1,354	9,966	201	8,541	266	8,584	545	951	2,428	2,383	2,295	1,472	1,598	1,406	1,330	912	927	1,172	1,588	3,152	20	1,834	2,399	2,706	2,925	3,547	4,520	4,156	6,378	4,507	4,626
Cash paid for income taxes
45	5,290	5,088	23,177	4,192	9,370	6,818	11,674	2,731	7,748	20,834	42,352	2,812	20,682	18,574	31,692	2,418	12,477	13,273	6,909	473	5,148	3,562	8,947	223	4,157	5,363	4,469	4,876	1,497	49	198	116	-1,118	335	835	336
Business Combinations [Abstract]
Acquisitions:
Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received
37,240	1,118	868	26,633	1,041	-1	450	23,577	0	-	-	-	-	-86	613	5,470	12,706	431	728	-15	25,627	1,631	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
255,974	8,941	-1,846	123,447	26,494	207	-835	98,538	0	-	-	-	-	-420	-653	35,643	101,531	3,336	4,118	71	42,702	9,750	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets
252,000	9,000	2,400	89,300	6,880	-1	1	122,110	0	-	-	-	-	0	-20	19,240	69,844	645	3,373	0	30,219	9,960	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities assumed
68,822	-3,725	1,349	30,134	3,390	206	302	16,078	0	-	-	-	-	-447	29	8,753	13,139	428	867	56	21,603	3,821	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Holdback provision
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-292	0	2,122	1,000	500	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earn-out liabilities
0	3,100	0	10,622	1,500	0	0	10,100	0	-	-	-	-	0	0	480	3,590	0	2,700	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash paid for acquisitions
476,392	19,684	73	198,624	29,525	-1	-686	218,047	0	-	-	-	-	-59	203	51,120	165,230	2,984	4,152	0	76,945	14,470	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures of non-cash investing and financing activities:
Purchase of fixed assets recorded in accounts payable and accrued expenses
1,786	159	-210	-214	2,566	-2,798	2,704	-1,060	2,860	-194	917	-201	2,440	764	-350	-769	2,489	1,131	-400	-1,001	3,607	867	597	87	3,067	-	-	-	-	-	-	-	-	-	-	-	-