American renal associates holdings, inc. (ARA)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Operating activities
Net loss

-2,328

9,123

17,027

5,140

-5,145

11,174

12,512

-8,383

7,164

2,171

26,672

16,391

12,902

30,021

36,046

13,042

22,557

27,720

23,596

23,181

18,580

Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization and impairment

8,527

-

-

-

10,066

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation, amortization and impairment

-

-

-

-

-

10,342

10,023

9,814

9,623

9,740

9,438

9,382

9,074

9,246

8,687

8,252

7,677

9,004

7,670

7,431

7,741

Amortization of discounts, fees and deferred financing costs

810

747

873

719

486

597

395

492

497

497

469

535

530

163

625

1,010

797

737

719

717

715

Stock-based compensation

2,723

1,515

979

850

1,401

1,547

1,247

1,663

1,264

1,110

1,031

3,643

10,088

17,047

12,673

10,179

386

391

437

289

283

Premium paid for interest rate cap agreements

-

-

-

-

-

-

-

-

-

0

0

0

1,186

0

0

0

0

-

-

-

-

Deferred taxes

1,650

-5,371

5,630

-352

214

8,234

-147

-5,168

-569

10,569

1

56

673

-10,062

-739

-7,836

67

1,904

1,129

155

1,815

Income Tax Receivable, Changes In Fair Value, Gain (Loss)

1,699

-1,127

-30

-304

1,682

5,438

-3,480

1,736

-1,021

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash rent charges

-

-

-

-

-

-

239

-6

167

-

-

-

-

-

-

-

-

-

-

-

-

Cash received on derivative settlement

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash rent charges

-

-

-

-

-

-

-

-

-

-

157

142

289

427

844

408

512

173

390

287

67

Loss (gain) on disposal of assets

-427

-1,210

286

0

395

1

-99

6

12

-

-

-

-57

-857

0

0

0

-

-

-

-

Income Tax Receivable Agreement Income

-

-

-

-

-

-

-

-

-

-

-

-2,641

4,517

-3,444

12,565

-7,835

0

-

-

-

-

Other non-cash charges, net

-116

-

-1,193

1,021

168

-

-13

-4

-1

-

0

0

-173

16

361

-227

-623

746

-338

-94

-400

Change in operating assets and liabilities, net of acquisitions:
Accounts receivable

-311

-1,208

-4,189

8,227

-206

847

-6,212

-5,440

-2,313

-17,675

3,393

346

-3,632

20,887

349

1,073

-1,088

270

1,738

-1,264

5,243

Inventories

-174

-126

487

482

-4,502

5,083

-154

406

1,464

-7

-288

312

-28

208

-322

-725

1,224

-431

-114

145

-138

Prepaid expenses and other current assets

6,165

-2,285

-2,908

4,232

-1,111

9,601

-923

-6,504

166

4,928

-8,212

5,767

3,870

3,597

2,476

-1,457

152

4,585

-5,606

3,952

-2,088

Other assets

2,908

10,009

-5,907

1,078

197

-1,579

-1,442

4,420

4,313

767

6

489

63

263

648

-710

18

1,066

-1,337

328

909

Right-of-use assets and operating lease liabilities

111

-

-

-

-1,801

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

7,714

-8,515

406

11,233

-12,667

5,059

1,174

11,964

7,464

-442

5,679

3,579

-6,522

7,850

-238

-342

1,286

-377

1,580

318

-1,002

Accrued compensation and benefits

-4,346

-446

2,815

4,650

-4,410

-71

3,777

3,721

-1,825

-2,782

3,113

2,562

-3,011

11

3,623

3,973

-1,008

-4,999

3,805

2,564

2,662

Accrued expenses and other liabilities

8,561

-3,128

-22,993

-499

-1,514

5,341

-16,151

17,993

-156

-707

-2,497

3,162

-1,755

-3,730

7,230

9,378

3,985

4,906

-2,282

2,350

258

Cash provided by (used in) operating activities

13,678

3,718

27,355

17,741

-9,993

22,533

25,392

37,470

21,009

31,176

45,012

35,838

16,522

30,303

52,674

52,653

36,576

29,076

42,701

34,225

27,593

Investing activities
Purchases of property, equipment and intangible assets

5,772

5,217

3,736

5,669

8,500

15,886

10,656

8,567

9,851

11,293

10,727

7,647

6,406

14,773

12,438

17,825

16,396

8,376

10,005

16,895

10,997

Proceeds from sale of clinics

0

-

3,000

0

3,300

-

2

0

2,500

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from asset sales

-

-

-

-

-

-

-

-

-

-

1,075

0

0

-

-

-

-

-

-

-

-

Cash paid for acquisitions

0

0

0

0

6,590

388

0

0

0

-

-

-

-

-

-

-

-

2,042

0

0

600

Cash used in investing activities

-5,772

-2,117

-736

-5,669

-11,790

-16,274

-10,654

-8,567

-7,351

-11,598

-9,652

-7,647

-6,406

-14,813

-16,105

-18,625

-16,396

-10,418

-10,005

-16,895

-11,597

Financing activities
Proceeds from revolving credit facility and term loans, net of discounts and fees

41,606

-

-

-

46,857

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds on term loans, net of discounts and fees

-

-

-

-

-

29,813

23,630

18,440

10,506

15,179

22,751

7,110

4,881

15,884

14,942

27,482

12,282

4,919

4,759

28,590

5,895

Payments on long-term debt

12,137

13,086

17,914

10,408

12,661

30,525

26,705

20,138

13,060

14,531

26,275

276,836

9,689

9,203

10,234

248,344

7,462

5,844

5,636

9,236

4,175

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5

Dividends and dividend equivalents paid

5

6

19

14

11

12

42

21

257

14

35

8,409

271

18

47

30,176

0

-

-

-

-

Proceeds from exercise of stock options

154

-43

-14

-3

70

241

761

60

336

1,697

147

506

30

170

0

0

0

-

-

-

-

Common stock repurchases for tax withholdings of net settlement of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Repurchase of vested restricted stock awards withheld on net share settlement

427

6

24

0

338

0

54

0

367

-

-

-

-

-

-

-

-

-

-

-

-

Payments of deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

467

-

-

-

-

Common stock repurchases for tax withholdings of net settlement equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30

52

Distributions to noncontrolling interests

10,748

22,738

18,620

16,879

4,750

15,829

20,942

17,471

16,718

18,969

21,967

19,498

19,044

27,483

23,012

22,533

21,440

19,477

18,716

22,775

18,157

Contributions from noncontrolling interests

1,536

-4,684

749

1,525

2,410

-3,416

1,125

790

1,730

-3,781

960

1,177

1,710

-6,349

2,135

2,557

1,884

-2,042

1,462

1,066

1,350

Purchases of equity of noncontrolling interests

0

-5

509

7,772

223

337

128

5,443

3,158

1,686

18,347

4,961

4,546

0

8,120

277

0

833

0

852

2,474

Sales of additional noncontrolling interests

-

-

-

-

-

-

86

0

92

-

66

0

0

-

-

-

-

-

166

79

250

Cash provided by financing activities

19,979

-27,297

-36,515

-6,857

31,354

-12,921

-22,269

-23,783

-20,896

-15,649

-42,700

-37,261

-26,929

-19,728

-24,688

-36,725

-15,203

-17,518

-17,279

-3,002

-17,368

(Decrease) increase in cash and restricted cash

27,885

-25,696

-9,896

5,215

9,571

-6,662

-7,531

5,120

-7,238

3,929

-7,340

-9,070

-16,813

-4,238

11,881

-2,697

4,977

1,140

15,417

14,328

-1,372

Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes

100

1,154

832

76

97

483

627

1,804

-279

314

251

1,193

127

4,239

6,480

5,183

193

1,402

1,251

3,869

393

Cash paid for interest

8,583

8,732

10,128

8,967

6,325

8,283

9,556

5,669

6,996

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

6,603

6,832

-

7,121

8,019

10,581

10,891

10,690

10,483

10,275

Supplemental Disclosure of Non-Cash Financing Activities
Contributions from noncontrolling interests in the form of a receivable

-

-

-

-

-

-

-

-38

157

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash equity impacts of the sale or closure of clinics

479

-

-

-

-4,866

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash equity contributions

1,037

-

-

-

4,684

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued offering expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-366

680

-

-

-

-

Change in liability accrued for dividend equivalent payments

7

7

11

12

15

16

23

25

-542

-

-

-

-

-

-

-

-

-

-

-

-

Liability for accrued dividend equivalent payments, net

-

-

-

-

-

-

-

-

-

-

167

981

1,563

-

2,278

1,540

0

-

-

-

-